Note: Premier ceased operations on September 13th, 2000. The cruise line's banker, investment firm Donaldson, Lufkin & Jenrette (DLJ), made the decision to pull the plug after a summer of highly visible mishaps on a fleet of aging ships that were becoming more expensive to maintain each passing day as fuel prices increased. The cruise line which targeted families and first time cruisers looking for bargains faced unexpected competition from the larger cruise lines this summer who discounted prices heavily to fill rapidly expanding capacity as a flood of new ships entered service. DLJ held a first mortgage on most of the Premier fleet in exchange for a $55 million line of credit which was extended to the troubled cruise line in 1998. It is expected that the ships will be put up for sale.
Former Ships:
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