Crystal secures financing for two newbuild ships from 2028

Crystal has finalised financing for two newbuild luxury ships, marking a “significant milestone” in the expansion of its fleet.

The financing comes from a SACE-backed ECA financing facility, a type of export financing where the Italian Export Credit Agency (SACE) provides financial support.

Both vessels will carry approximately 650 passengers and have a gross tonnage of 61,800 and aim to “represent the next generation of luxury cruising”.

Construction by Financtieri has “continued as planned” with the first ship expected to be delivered in May 2028, and the second following “the established timeline”.

Manfredi Lefebvre d’Ovidio, executive chairman of Crystal parent company A&K Travel Group, said: "Securing this financing represents a decisive step forward in Crystal’s expansion and demonstrates the strong market confidence in our strategy.

"We are grateful for the trust placed in us by our banking partners, led by Citibank [London Branch], along with Banco Santander, CaixaBank., UK Branch, Cassa Depositi e Prestiti, Credit Agricole Corporate and Investment Bank, Banca Monte Dei Paschi Di Siena, and Bper Banca.

“This consortium’s backing validates our position in the ultra-luxury cruise segment."

AKTG chief executive Cristina Levis added: "The SACE-backed ECA financing was made possible through the dedicated support of key Italian financial institutions.

“We extend our deep gratitude to the Italian Export Credit Agency SACE, under the leadership of chief executive Alessandra Ricci and team leader Mariano Di Biagio, for their strategic partnership.”