Spanish Royal Yacht to be Sold

Started by cinrit, July 29, 2014, 12:24:48 PM

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cinrit

QuoteA luxury yacht given to Spain's former king Juan Carlos, who abdicated last month, will be sold for 2.2 million euros ($3.0 million) to a shipping company, in a move to cut costs, officials said Monday.

The 41.5-metre (136-foot) yacht Fortuna was donated to the monarch in 2000 by a business group in the Balearic Islands which hoped the royals presence in the Mediterranean archipelago would draw holidaymakers.

But in May 2013 the royal household announced that the king was giving up the yacht which reportedly cost 21 million euros in what was seen as a cost-cutting move when Spain was in the grip of a severe economic downturn that has left one in four people out of work.

More: Spanish royal yacht to be sold < Spanish news | Expatica Spain

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