P&O Plans To Tackle German Cruise Market
Wednesday, September 29, 1999
British shipping group P&O plans to start taking Germans on cruise holidays, citing that market as underdeveloped and with huge growth potential. The company is investing an initial $80.6 million and taking a 51 percent stake in a joint venture cruise company to be formed with privately owned German group Arkona Touristik.
The new company, Aida Cruises, will order two new ships to complement the 1,200 berth Aida. P&O has an option to take full control of the venture once the ships are delivered.