After plying Asia's rivers for 25 years, Pandaw’s iconic
traditional-styled river vessels will cease operations, as founder Paul
Strachan announced the business' closure in the wake of liquidity
problems and lack of investors to fund the company.
The company cited the continuing Covid-19 impact on international
leisure travel, the closure of its destinations in Vietnam, Cambodia,
Laos and India, and the critical political situation in Myanmar as
contributing factors.
The
announcement was made bittersweet by the fact that Pandaw still saw
strong demand in advance bookings for 2022, thanks to loyal customers.
However, the company needed urgent funds to continue layups for its
17 vessels for another year, and to start essential refurbishments for
its fleet.
Founded in 1995, Pandaw pioneered river expeditions in Vietnam,
Cambodia, Laos, Myanmar and India with its iconic boutique ships. Up
until the pandemic, Pandaw said it had enjoyed a loyal following, high
occupancy and year-on-year growing revenues, with positive financial
results.
Its river boats are unlike any other as the design stayed true to
original colonial Burmese Irrawaddy Flotilla vessels, even in its new
builds.
“This is a very sad moment for me, my family, our crews and clients,” said Strachan.
“It marks the end of an era for all of us after 25 years of real
adventure. We are truly sorry to disappoint our regular passengers who
were so looking forward to making a trip after the lifting of travel
restrictions. We are also heartbroken for our 300-plus crew members and
shoreside personnel who have stood by Pandaw and were hoping to get
going again next year.”
Source: Seatrade Cruise News