Ambassadors International, Inc. Announces Its Plans to Sell Majestic America Line
Ambassadors International, Inc. (NASDAQ:AMIE) announces its plans to sell Majestic America Line.
Joe Ueberroth, Chairman and CEO of the Company, stated, "We are committed to operating the 2008 season of Majestic America Line while conducting our exit of the business in an orderly and effective manner. Several credible parties have expressed a sincere interest in acquiring some and/or all the assets of Majestic America Line and building upon the efforts and investments we have made in delivering unique cruise experiences that celebrate American history, culture and our magnificent waterways. In addition, our decision to exit Majestic America Line enables us to focus our efforts and investments on the successes of Windstar Cruises. Our dedicated American crew remain committed to providing our customers with extraordinary cruises and key vendors and business partners are working with us to ensure a smooth transition."
The Company has a conference call scheduled on Tuesday, May 6, 2008 to discuss the financial results for the first quarter of 2008 and at that time management will elaborate further on the decision to sell Majestic America Line.
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