Costa Crociere Group News

In 2010, Costa Crociere S.p.A. generated an impact of over $3.2 billion on the Italian economy. This is one of the findings of a study carried out by MIP, the Milan Polytechnic Business School. Costa Crociere S.p.A. is an Italian company headquartered in Genoa, which comprises 3 brands (the Costa Cruises brand, Aida Cruises for the German market, and Iberocruceros, which operates mainly for the Spanish- and Portuguese-speaking markets). It is one of Italy’s top 10 most profitable companies and ranks 49th in terms of turnover in Mediobanca’s 2010 survey of over 3,700 Italian enterprises that recorded revenue of at least $73 million the previous fiscal year.

The Spanish Antitrust Authority has granted official approval to the acquisition of sole control by Costa Crociere S.p.A. of Iberocruceros, a brand operating in the Spanish market. The operation was first announced on May 29 this year following the signing of an agreement between Costa Crociere S.p.A. and the leading Spanish tour operator Orizonia. Now, following the go-ahead from the antitrust authority, the deal is to be completed during July 2009. Iberocruceros was established in 2007 as a joint venture between the Costa Crociere Group, which owned 75% of the company, and Orizonia, which had a 25% stake. Through its acquisition of the remaining 25% of the capital, Costa Crociere S.p.A. now is the only shareholder of Iberocruceros.

Louis Cruise Lines reportedly acquired its seventh cruise vessel, boosting the total capacity of its fleet to 5,803 passengers. The vessel, the M/S Mermoz, was bought from Prestige Cruises NV, a member of the Costa Crociere group. The Mermoz has a tonnage of 14,173 and can accommodate 739 passengers in 300 cabins. The vessel will reportedly replace the Ausonia, which is under charter to Britain's First Choice.

Louis Cruise Lines has acquired its seventh cruise vessel, boosting the total capacity of its fleet to 5,803 passengers. The vessel, M/S Mermoz, was bought from Prestige Cruises NV, a member of the Costa Crociere group. The cost of the acquisition was not disclosed. The vessel will come under LCL's ownership in November, a company spokesman said. The Mermoz is now operated by Costa, and its last cruise under the Paquet brand is scheduled for October, the spokesman added. The Mermoz has a tonnage of 14,173 and accommodates 739 passengers in 300 cabins. The ship will replace the Ausonia, which is under charter to Britain's First Choice. LCL owns seven cruise boats, and an eighth is under management.