German cruise operator declared bankruptcy due to the crisis in Russia

German company Nicko Cruises, which specializes in cruises on European rivers, announced the initiation of bankruptcy procedure, the press department of the tour operator reported on Wednesday on April 6.

According to the official statement of Nicko Cruises, bankruptcy was the result of the crisis in Russia and Ukraine, which led to a significant drop in demand for river cruises and as a result, reduce the volume of liquidity, as well as damage from floods in Europe in 2013.

Cruises with departures on May 6 and 7 will be held, the company said. Also, the tours with departures on May 9 on the ships MS Bellevue, MS Douro Cruiser, MS Heinrich Heine, MS Maxima, and MS Primadonna will be organized. The company hopes that the rest of the planned cruises will also be held.

Chaika-Tour, the Russian tour operator who specializes on tours to Germany, explained that Russians booked the tours from German cruise operator, but the demand for them was small. Tour operated added that with Nicko Cruises collaborated with many Russian travel agencies.

Company Nicko Cruises has worked since 1992 as an organizer of travel for Russians. The operator offered more than 50 routes on 30 riverboats.