Which cruise line is going out of business?

As of 2026, no major cruise line is going out of business, and the cruise industry is actually experiencing record demand and expansion after recovering from the COVID-19 pandemic shutdown in 2020 to 2021. During the pandemic, several small cruise lines did go out of business or filed for bankruptcy, including Jalesh Cruises in India, Cruise & Maritime Voyages (CMV) in the UK, Pullmantur Cruises owned by Royal Caribbean Group, and FTI Cruises. In 2022, Crystal Cruises temporarily shut down and filed for bankruptcy before being purchased and revived by A&K Travel Group in 2023. In 2023 and 2024, smaller luxury and expedition lines like Noble Caledonia faced financial restructuring. However, the big four cruise corporations Carnival Corporation, Royal Caribbean Group, Norwegian Cruise Line Holdings, and MSC Cruises, which control about 85 percent of the global market, are all financially stable and building new ships costing $1 to $2 billion each. Carnival, Royal Caribbean, Norwegian, MSC, Princess, Holland America, Celebrity, and others all reported record bookings in 2024 and 2025. Rumors about cruise lines going out of business often circulate on social media but are usually false. If you are concerned about a specific cruise line, check its parent company's financial reports, which are public, and know that US law requires cruise lines to have financial protection for passenger deposits. So no major cruise line is currently going out of business.