Up to 90% cancellations for yacht charters in Greece

4 May 2020
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The professionals in the commercial charter yachting sector in Greece are seeking ways to mitigate the catastrophic effects of the coronavirus pandemic.

Cancellations have reached 90% and the year is considered all but lost for some, while others in the industry still hope the months from July till September, under certain circumstances, could hold up the industry as they believe the Europeans will travel, given that the Americans, who are their main clientele are expected to not travel abroad this season.

But if the trend of “taking a vacation to our homeland” prevails in European countries, then they fear the impact would be catastrophic.

Many small and medium-sized companies are under even more pressure as they are faced with covering loan instalments with no revenue.

Antonis Stelliatos, president of the Hellenic Professional Yacht Owners Association drew attention to four main points:

-Cancellations for yacht charters has in some cases reached 100%,

-The lack of liquidity has caused great concern in all maritime tourism companies, shipowners, charterers, agent companies, etc.
-Unemployment of sailors. Forced redundancies.
-The crisis in shipbuilding and all business associated to related industries, which are in the hundreds

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