To Whom It May Concern:
We received this information from the trades and thought it would be of
interest to this newsgroup as well.
Happy sailing,
John Sisker, SHIP-TO-SHORE CRUISE AGENCY®
(714) 536-3850 or toll free at (800) 724-6644 & (Agency No. 714.536.3850)
www.shiptoshorecruise.com
NEWPORT BEACH, Calif., Nov. 20
Ambassadors International, Inc. (the "Company") announced today that its
subsidiaries have selected V.Ships Leisure to manage the vessel operations
of Majestic America Line. Under the agreement, V.Ships Leisure will provide
services which include deck, engine and hotel crew management, procurement
and technical and hotel operations. The agreement is subject to United
States Maritime Administration ("MARAD") approval and both companies are in
the process of working with MARAD toward that goal.
The Company also announced that it is anticipating the 2007 operating losses
in Majestic America Line to continue into the fourth quarter, with the
fourth quarter pre-tax loss for the line being in excess of $6 million prior
to any potential benefit received from insurance recoveries related to 2006
and 2007 incidents. In addition, the Company announced that due to the
V.Ships management agreement, the Company will change its operations
accordingly. The Company anticipates recording certain charges during the
fourth quarter of 2007 which could have a significant effect on the
quarterly results. The Company is currently in the process of finalizing its
plans and estimating the full impact on the fourth quarter of 2007.
Joe Ueberroth, Chairman and CEO of the Company, stated, "We are looking
forward to utilizing the services and resources of V.Ships Leisure to
support our efforts to deliver the premier river and coastal cruising
experience of Majestic America Line. V.Ships Leisure brings an exemplary
record of safety, excellence and operating efficiencies that is aligned with
the Company's goals for a profitable Majestic America Line."
Lorenzo Malvarosa, CEO of V.Ships Leisure, stated, "We are delighted to
expand our services to the highly regarded Ambassadors group for whom we
already provide services for Windstar Cruises."
Roberto Giorgi, President of V.Ships added, "V.Ships is pleased to increase
its presence in American flagged operations with American crew. Through the
management of the fleet of Majestic America Line, V.Ships is also further
developing its expertise in providing outsourcing services to U.S. publicly
listed companies."
About Majestic America Line
Majestic America Line is the premier river and coastal cruising company in
the United States, offering uniquely American cruise itineraries that
provide an extraordinary travel experience. With a fleet of seven
U.S.-flagged and built ships, Majestic America Line travels America's great
rivers and coastal waterways from Alaska and the Pacific Northwest to the
Heartland and the Lower Mississippi. The company's specially designed ships
deliver an unequalled boutique cruise experience that combines an unmatched
attention to quality with deluxe comfort and warm, attentive service from an
American crew.
About Ambassadors International, Inc.
Ambassadors International, Inc. is a cruise, marine, and travel and event
company. The Company operates Windstar Cruises, an international, luxury
cruise line and Majestic America Line, a North American river and coastal
cruising company. The Company is also a global provider of construction and
consulting services to marina owners. In addition, the Company provides
travel and event services. The Company is headquartered in Newport Beach,
California. In this press release, any reference to "Company,"
"Ambassadors," "management," "we," "us" and "our" refers to Ambassadors
International, Inc. and its management team.
About V.Ships Leisure
V.Ships Leisure is the passenger ship management arm of V.Ships
(http://www.vships.com), the largest business unit within V.Group. V.Ships
is the world's largest provider of ship management services to a fleet of
over 900 vessels encompassing most ship types. It is an international
company with 70 offices located in 26 countries employing 1,500 office and
24,000 sea-going staff. V.Ships Leisure is the leading provider of third
party management services to the cruise, ferry and yacht industries. The
current ownership structure of V.Group is a 50/50 Exponent Private Equity
and more than 160 of its directors and senior managers.
Forward-Looking Statements
This press release contains forward-looking statements that involve various
risks and uncertainties. The forward-looking statements contained in this
release are based on our current expectations and entail various risks and
uncertainties that could cause our actual results to differ materially from
those suggested in our forward-looking statements. We believe that such
risks and uncertainties include, among others, our ability to successfully
integrate the operations of companies or businesses we acquire and realize
the expected benefits of our acquisitions; the ability of V.Ships to
successfully manage the Majestic America Line vessels; our ability to
successfully and efficiently operate the businesses that we acquire; our
ability to compete effectively in the U.S. and international cruise markets;
our ability to effectively and efficiently manage our rapid growth; our
ability to continue to identify attractive acquisition targets and
consummate future acquisitions on favorable terms; our ability to service
our debt and other factors discussed more specifically in our annual,
quarterly and periodic filings with the Securities and Exchange Commission
on Form 10-K, 10-Q and 8-K. We are providing this information as of the date
of this release and do not undertake any obligation to update any
forward-looking statements contained in this document as a result of new
information, future events or otherwise.
(949) 759-5900 or
http://www.ambassadors.com &
http://www.vships.com
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