Virgin Cruises to spend $1.7bn on two ships

First two ships should be completed within five years
Virgin Group chief Sir Richard Branson has revealed that the first two new Virgin Cruises ships should be completed within five years at a cost of $1.7 billion.
He originally announced the launch of the cruise operator in December, when he said two ships would be purpose-built as part of its business plan. He told the newspaper The Telegraph that the ships would be built in either a German or Italian shipyard and take between four and five years to be completed.
“We’re in the final throes of those negotiations,” he said.
Virgin Cruises is being backed by private equity firm Bain Capital and the company will be led by Tom McAlpine, part of the management team that founded the Disney Cruise Line in 1996. It comes as Branson also launches Virgin Hotels, while Virgin Trains has taken control of the UK’s East Coast rail franchise.
TTG Digital / The Telegraph
[image courtesy Virgin Vacations]