Asia cruise giant Genting secures $227m in German aid

Hong Kong operator overcomes opposition to win interim help for shipyards

20201006  MV Werften

MV Werften in Rostock. Owner Genting Hong Kong is receiving aid from Germany's government to tide the yard through a downturn due to the coronavirus pandemic. © AP

JENS KASTNER, Contributing writer

HAMBURG, Germany -- Genting Hong Kong, Asia's biggest cruise operator, is to get 193 million euros ($227 million) from Germany's government for its struggling shipyards in the country, despite reservations over state handouts to foreign investors.

The payment to the operator of the Star Cruises, Dream Cruises and Crystal Cruises lines will allow work at its shipyards in northeastern Germany, grouped under MV Werften, to carry on at least until March.

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