Crystal has taken a major step forward in its fleet expansion, securing funding for two brand-new luxury cruise ships through an export credit facility supported by Italy’s SACE.
This type of financing, backed by the Italian Export Credit Agency, is often used to promote international deals involving Italian-made goods or services—in this case, shipbuilding.
Each vessel will accommodate around 650 guests and weigh in at 61,800 gross tons, with Crystal saying the ships will set new standards in luxury travel.
Construction is already underway at Fincantieri shipyards and is progressing on schedule. The first ship is on track for completion in May 2028, with the second following shortly after.
Manfredi Lefebvre d’Ovidio, Executive Chairman of A&K Travel Group, Crystal’s parent company, called the financing a pivotal achievement. “Securing this financing represents a decisive step forward in Crystal’s expansion and demonstrates the strong market confidence in our strategy,” he said.
He also praised the role of financial partners in making the deal happen. “We are grateful for the trust placed in us by our banking partners, led by Citibank , 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.”
Meanwhile, Cristina Levis, CEO of A&K Travel Group, acknowledged the critical role played by Italian financial institutions and the export agency itself. “The SACE-backed ECA financing was made possible through the dedicated support of key Italian financial institutions,” she said.
“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.”
