SINGAPORE, 23 December 2020: Royal Caribbean Group will hand out cash loans to loyal travel advisors to keep them afloat in 2021.
The programme delivers a USD40 million fund that qualifying travel advisors can tap for loans. They can apply for three-year, interest-free loans of up to USD250,000 to save their businesses the cruise line promised in its media statement released just ahead of the Christmas holiday.
Announced from the group’s Miami headquarters, the lifeline loans may not apply to travel advisors outside of North America. The cruise line has a strong network of travel advisors across the Asia-Pacific who desperately need a financial rescue, but RCL needs to clarify on the geographical scope of the offer.
Royal Caribbean Group’s “Pay It Forward,” is the
second phase of a RCL CARES programme that supports travel advisors as they
look to rebuild their businesses and focus on a return to growth.
“We know our travel advisor friends are suffering, too, and we will get through this tough period together, just as we always have,” said Royal Caribbean Group’s chairman and CEO Richard Fain. “Our travel partners have stood strong beside us for more than 50 years, and we are determined to be there for them now. We’re going to get to the other side of this challenging time together.”
The company said details about the application process would
be shared directly with travel advisors in January.
RCL is a global operator with thousands of travel advisors worldwide who channel clients to cruises series that have been docked since March and are unlikely to resume any time soon.
However, it is not clear if the interest-free loan lifesaver
would apply to travel advisors who are resident outside of North America.