Pandaw said the continuing impact of Covid-19 on international leisure travel had left it no option but to halt its river cruise operations due to a lack of liquidity and inability to find additional funding.
Despite "strong" forward bookings for a 2022 restart, and "great support" from the "ever-loyal" Pandaw community, the company said on Monday (25 October) it lacked the funds to keep its 17 ships laid up for another year and to pay for any essential maintenance ahead of a resumption of operations, the timing of which Pandaw said was still "highly uncertain".
In a statement, the line said it had worked tirelessly over the past year to find fresh investment or other forms of finance without success.
Pandaw founder Paul Strachan said: “This is a very sad moment for me, my family, our crews and clients. It marks the end of an era for all of us after 25 years of real adventure.
"We are truly sorry to disappoint our regular passengers who were so looking forward to making a trip after the lifting of travel restrictions.
"We are also heartbroken for our 300-plus crew members and shoreside personnel who have stood by Pandaw and were hoping to get going again next year."
The line was founded in 1995 and claims to have "pioneered" river expeditions in Vietnam, Cambodia, Laos, Myanmar and India. It said up until the onset of Covid-19, it had been financially secure with revenues growing year-on-year, supported by a loyal following of travellers and high occupancy.
The work of the Pandaw Charity, which has been supporting people through the political crisis in Myanmar, will continue under the guidance of its trustees.
