FTI's decision to end its cruise brand marks the fourth small cruise line to announce in recent weeks that they were going out of business due to the impact of the pandemic on the cruise industry. Spanish cruise operator Pullmantur filed for reorganization under Spain's insolvency laws. Cruise and Maritime Voyages, a UK-based cruise company with operations in the UK, Germany, and Australia was also placed under administration when it failed to secure new financing. Further, Birka Cruises that operated short cruises from Stockholm announced that it was also ending its operations. The major cruise lines have all sought additional capital from the financial markets to help them manage through the current period. The world's largest cruise company, Carnival Corporation recently announced that it was selling nine additional ships and expecting a total of 13 ships to be leaving its fleet as it works to align its operations and lower costs.