In the latter half of last year, Classic International Cruises had three ships detained as a result of non-payment of fuel costs and crew wages. The only vessel not to be arrested was the Funchal, which is currently laid up while it awaits refurbishment work. Classic International Cruises has since gone into administration.
All four cruise ships are to be sold to a Portuguese businessman. The deal to purchase the vessels Funchal, Athena, Princess Danae and Arion has the backing of the bank TSF Montepio, according to Cruise Critic.
Originally built in 1961, the Funchal has previously served as a Portuguese passenger liner and a presidential yacht.
When the company went into administration last year, it led to a gap in the market and disrupted travel plans for thousands of passengers planning journeys between Australia and the UK.
In November, it was estimated that the total value of passenger claims resulting from the cancellation of Classics Australian season would run into millions of pounds.
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