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Yacht Crew to Get $1.6 Million
- By Yachting Staff
- Updated: December 13, 2013
136 Izar Fortuna
Back in June, we told you about a dispute in Spain over the 136-foot Izar Fortuna . She was built in 2000 for King Juan Carlo of Spain, and he was trying to give her back because it didn’t look very good to have him owning a yacht with the nation’s unemployment rate inching toward 30 percent.
Now, the king has renounced the yacht as a gesture of frugality — but the move is going to end up costing taxpayers a pretty euro. A court has ruled that Fortuna ‘s crew were illegally dismissed, and that they are owed back pay and damages of about $1.6 million.
Court proceedings revealed that the captain had a salary of €138,000, almost double that of the prime minister, even though he took the boat out only once during all of 2012, according to The Guardian . He will receive a payout equal to nearly a year’s salary, while each of seven crew members will get more than €100,000 apiece.
That’s some nice government work if you can get it.
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The King Of Spain Is Giving Up His Yacht As The Recession Continues
Spain's King Juan Carlos is giving up a 21-million-euro ($27 million) yacht named Fortuna, officials say, as his subjects weather a biting recession and record unemployment.
The 41.5-metre (136-foot) yacht was donated in 2000 by a business group but left the king open to criticism during hard times in Spain. Each refuelling of the yacht costs more than 20,000 euros, according to the Spanish press.
The group, the Tourism and Cultural Foundation of the Balearic Islands, had said it hoped the king's presence in the Mediterranean archipelago would draw holidaymakers.
Like other assets including the royal palaces, the luxury yacht is owned by the state and managed by the National Heritage for the use of the 75-year-old king and his family.
But the king has taken sail with the yacht less frequently in recent years, making his last outing in August last year.
"The king has taken the decision to ask the National Heritage to proceed with the release of the asset," a spokesman for the institution said late Thursday.
The National Heritage board must now approve the yacht's transfer to the government, which could decide to keep it or sell it.
Juan Carlos won wide respect in Spain for helping guide it through a political transition after the death of dictator Francisco Franco in 1975.
But polls show public confidence in the royal family slumping as people smart from severe cuts to welfare, a double-dip recession and an unemployment rate of more than 27 percent.
The king's son-in-law, former Olympic handball player Inaki Urdangarin is engulfed in a corruption probe over a non-profit institution he ran from 2004-2006 and his wife -- the king's younger daughter Cristina -- is at risk of being dragged into the affair.
The king provoked outrage among Spaniards in April last year when he took a luxury elephant-hunting safari in Botswana in the midst of the economic crisis. The holiday was only discovered when the king broke his hip and had to return to Spain for treatment, leading the monarch to issue an unprecedented apology.
Copyright (2013) AFP. All rights reserved.
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Everything must go: Abdicating King of Spain knocks £2m off his bulletproof yacht that played host to Diana and Queen-to-be-Letizia
- Fortuna, a 136ft luxury yacht, was given to King Juan Carlos by a group of businesses in Majorca to promote tourism
- But he was forced to give it up after coming under fire for enjoying an elephant safari while Spaniards fought austerity
- Now the motor boat's asking price has been dropped from £8.1m to £6.6m - a drop of nearly 20% - by the agents
- The boat counts Princess Diana, Prince William and the Spanish queen-in-waiting Princess Letizia among its guests
By Steph Cockroft
Published: 07:00 EDT, 11 June 2014 | Updated: 12:59 EDT, 11 June 2014
View comments
It was put on the market as a sign of solidarity by the king, to show his appreciation for the harsh austerity measures and rising unemployment rates facing his fellow Spaniards.
But it seems times are so austere that those selling King Juan Carlos's luxury royal yacht have had to slash its asking price - by nearly 20 per cent.
Fortuna, a 136ft motor boat used exclusively by the Spanish Royal Family and their guests - which has in the past included Princess Diana and Prince Charles - has had its price dropped from £8.1m to £6.6m.
Reduced: Fortuna, the luxury royal yacht used exclusively by the Spanish Royal Family, is on the market for £6.6m (€8.25) after King Juan Carlos decided to give it up in a show of solidarity as Spain battled high levels of unemployment and austerity
Famous faces: The boat has played host to several famous faces, including Princess Diana, Prince Charles and Prince William, pictured here with King Juan Carlos in 1990
The boat, which remains moored off the island of Majorca, where the royal family has a palace and goes on holiday each summer, was gifted to the state by around 30 executives with links to Majorca and other Balearic Islands in a bid to promote the islands.
But King Juan Carlos - who announced last week that he plans to abdicate to make way for his son Prince Felipe - was forced to renounce the use of the yacht, after coming under fire for going on an elephant safari in Bostwana in 2012, while the Spanish economy plunged further into crisis.
The holiday came just weeks after the monarch - who won wide respect in Spain for helping guide it through a political transition after the death of dictator Francisco Franco in 1975 - claimed to be 'kept awake at night by the plight of the Spain's youth unemployed'.
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But after the king announced he would hand over his prized possession, the group who bestowed the yacht, the Foundation of Balearic Culture and Tourism, said they wanted it back.
In a letter explaining their claim, they stressed that the gift had been given with the understanding that the yacht be used exclusively by the royal family.
Now the 140-tonne vessel, which was originally put on the market for the equivalent of €10m, has been reduced to €8.25m.
Spotted: Diana was seen on board the boat, which was bestowed to the king by the Foundation of Balearic Culture and Tourism in a bid to encourage tourism in the islands. When he announced he was giving up the boat, the state returned it to the foundation which put it up for sale
Smiles: King Constantine II of Greece, Princess Theodora of Greece, Princess Diana and King Juan Carlos enjoyed a summer holiday on the yacht in 1990 in Majorca, Spain
Happy families: King Juan Carlos and Queen Sofia, Prince Felipe - who is due to take over from his father imminently - and wife Princess Letizia, plus all the Spanish Royal family members were often seen boating on the yacht. In this picture, they enjoyed a trip around the Balearic Islands
The queens: Queen-in-waiting Princess Letizia, left, and Queen Sofia of Spain, right, were pictured on board the royal yacht in 2006 with Princess Leonor as they attended the Copa del Rey sailing trophy
Arrival Yachts, the agency managing the sale, said the price had been dropped as part of its strategy to indicate the seller's wish to negotiate and not because there was a lack of interest. It said all serious offers would now be considered.
The boat, which is said to be more like an aircraft in design, was named as the fastest in the world of its type in 2000 when it reached 68 knots.
As well as a plush interior and a lavish deck which boasts 360 degree views out to sea, anyone buying the boat will also be able to count themselves in good company.
Inside: The 140-tonne vessel was named as the fastest in the world of its type in 2000 - when it reached 68 knots. It is said to be more like an aircraft in its design and represents 'the pinnacle' of this type of yacht, which includes a lavish interior
The master bedroom on the yacht, which is one of four cabins equipped with an en-suite, is large and benefits from good sound-proofing. There is also a large, flat-screen television, a music system and a host of other mod-cons inside the royal yacht
The boat, which is stored in a special dock shed in Palma, was also built with a bullet-proof structure and was deemed to be the most advanced of its type in the world when it was made
The spacious boat has been managed by a highly-specialised crew, personalised for the king, who have kept the boat up to date with all the latest and best equipment
It has been at the centre of several glamorous photo opportunities over the years - perhaps most memorably of a windswept Princess Diana and Prince Charles sunning themselves alongside the Spanish king.
Glamorous Princess Letizia, the queen-in-waiting, and the rest of the royal family are also regularly spotted on the yacht during the summer months.
The boat includes an interior which was created by Milan-based designer Celeste Della Anna, which includes panelled wood with stitched tan leather, a beige carpet with Japanese accents and cream-coloured ceilings.
Nigel Evans from Arrival Yachts, which is marketing the yacht, which includes this kitchen, said it had been specially-designed to minimise noise and vibration from its 20,000 horsepower engine
It also has four cabins which sleep eight people, all equipped with luxury en-suites, as well as a spacious flybridge, protected by a wraparound windscreen.
There is also a large, flat screen television, a music system and other mod-cons such as an ice maker and a dough mixing machine for bread.
The boat, which is stored in a special dock shed in Palma, also benefits from a bullet-proof structure and was deemed to be the most advanced of its type in the world when it was made.
The 136ft royal yacht, which has welcomed several famous guests over the years, is moored off the island of Majorca where the royal family has a palace and goes on holiday each summer
The moment he gave it all up: The Spanish king, pictured right, was forced to renounce the boat after he came under fire for enjoying an elephant safari in Botswana in April 2012 as his country fought some of the highest unemployment levels in its history
FEATURES OF THE ROYAL YACHT
Bulletproof exterior
Measures 136ft
Weighs 140 tonnes
20,000 horsepower engine
Three turbines
Nigel Wales from the company said it was also managed by a highly-specialised crew who have kept the boat up to date with all the latest and top-of-the-range equipment.
He said: 'The recent reduction in price is part of our strategy to first locate the vessel in the market, then indicate to potential buyers the seller’s wish to negotiate.Hence the reduction from €10m to €8.25m.
'The quality of construction the yacht is similar to that of an aircraft, as you would imagine when the hull is designed to handle over 20,000 horsepower with all three turbines at full power.
'The yacht represented the pinnacle of design for this type of vessel, in terms of performance whilst minimising noise and vibration, for the client’s enjoyment.
'As a qualified naval architect I am proud to be representing ‘Foners’, which obviously helps when talking to potential clients and brokers.'
Share or comment on this article: King Juan Carlos of Spain knocks £2m off his bulletproof yacht
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THE KING OF SPAIN GIVES UP HIS PALMA-BASED ROYAL YACHT FORTUNA
King juan carlos last night announced that he is giving up his palma-based royal yacht and handing it over to the state..
Palma.The 75-year-old king has had a spectacular fall from grace recently as scandals undermine public approval and his health weakens and last night the royal household announced that the crew of the Fortuna, which is based inside the Porto Pi naval base, has been told to stand down and that the king has no intention of it being used again by the royal family.
It will be handed over to the state. This is the third Spanish royal yacht and was built 12 years ago at a cost of 3'000 million pesetas, 18 million euros, by a group of 30 leading local and national businessmen and women who donated the yacht to the Balearic Tourism and Culture Foundation and part of the country's National Heritage.
It replaced the second Fortuna which had been a present from the Saudi Arabian King Fahd in 1979 to replace the original royal yacht of the same name which came into service in 1976 in Majorca where the Spanish royal family have traditionally spent their Easter and Summer holidays.
When the Fortuna was launched 12 years ago, it was one of the fastest yachts of its category but, due to the high running and maintenance costs, King Juan Carlos has used the yacht less and less over recent years.
The 41.5 metre yacht has a maximum speed of 65 knots and a highly sophisticated propulsion system with three Rolls Royce engines. Construction first began in 1997 at the Bazan shipyard in Cadiz and she took three years to complete. Inside she boasts a lounge, dining room, kitchen, four double bedrooms for eight guests and quarters for the eight-strong crew. For many years, the captain of the royal yacht was British and during the royal yacht's 12 years numerous members of royalty have been aboard including the First Lady of the United States, Michelle Obama and her youngest daughter Sasha as guests of the king and queen in 2010.
The last time the king went sailing aboard the Fortuna was on August 13 last year when he headed out alone with just the crew and moored up off Formentor, although other members of the royal family have used it more often. Sources familiar with palace thinking say the royal family is concerned about the decline in its popularity and is eager to avoid adding more uncertainty to the climate of crisis for ordinary Spaniards. The palace is monitoring public opinion extremely closely via social media and its own polls.
The king's image started to deteriorate with the investigation into his son-in-law's alleged embezzlement at the head of the not-for-profit Noos Foundation in 2011.
It plummeted in 2012 when it emerged that Juan Carlos had gone on an elephant-hunting trip to Africa just as the full force of Spain's economic crisis hit home. With one in four Spaniards living in poverty, the palace was exposed as hopelessly out of touch. The king made an unprecedented apology.
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A Recession Casualty – King Juan Carlos of Spain Giving Up Luxury Yacht “Fortuna”
Published May 22, 2013 · Updated November 26, 2014
Sometimes even kings are not immune to the recession and economic hardship. One of the surprising cutbacks is that King Juan Carlos of Spain is relinquishing his approximately, 21 million-euro ($27 million) yacht – tiled “ Fortuna .”
As the European country of Spain continues to battle the never-ending recession and record unemployment, hard choices must continue to be made.
The Fortuna yacht is similar to other assets such as the royal palaces, which are owned by the state and managed by the National Heritage for the use of the 75-year-old king and his family.
Fortuna is 41.5-metre (136-foot) in length and was donated back in 2000 by a business group. It’s costly to maintain in addition to taking it out on the Mediterranean. According to the Spanish press, each sailing costs more than 20,000 euros for each refuelling.
Last week, a spokesman for the institution was quoted “The king has taken the decision to ask the National Heritage to proceed with the release of the asset,” said late Thursday.
The next step is the National Heritage board needs to approve the King Juan Carlos yacht’s transfer back to the government. The next choice would be to keep the luxury yacht or to sell Fortuna .
Source: AFP
Tags: Corporate Concierge King Juan Carlos Lifestyle Concierge Lifestyle Management Luxury Concierge Spain VIP Concierge yacht
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Price drop on ex-royal superyacht Foners at Arrival Yachts
Nigel Wales at Arrival Yachts tells me of a €1.75 million price drop on his listing for sale, the 41.5m motor yacht Foners .
Previously known as Fortuna , she was built by Spain’s Astilleros Bazan yard to DNV class and launched in 2000 as the King of Spain's royal yacht. Her interior is in gloss sycamore wood throughout with stitched tan leather detailing. The main saloon is large and has settees, occasional chairs and tables, a 46 inch television/entertainment centre and a formal dining area.
Eight guests are accommodated in a four stateroom layout including a lavish master suite, VIP stateroom and two twins. All staterooms have en suite bathroom facilities. A noteworthy fact is that the superstructure is lined with Aramid fibre for the express purpose of making it bullet proof.
Above all else, Foners was built for speed. Her machinery space is divided into three compartments separated by two water tight bulkheads and contains two 1,280hp MAN engines and three Rolls Royce 6,700hp gas turbines driving three KaMeWa water jets. Her top speed is a blistering 68 knots, and she has a range of 1,800 nautical miles at 12 knots.
Lying in Mallorca, Foners is down from €10 million to €8.25 million.
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KT APPDOWNLOAD Spain’s king gives up luxury yacht ‘Fortuna’Spain’s king juan carlos is giving up a 21-million-euro ($27 million) yacht named fortuna, officials say, as his subjects weather a biting recession and record unemployment..
 Published: Fri 17 May 2013, 1:50 PM Last updated: Tue 7 Apr 2015, 4:18 PM The 41.5-metre (136-foot) yacht was donated in 2000 by a business group but left the king open to criticism during hard times in Spain. Each refuelling of the yacht costs more than 20,000 euros, according to the Spanish press. The group, the Tourism and Cultural Foundation of the Balearic Islands, had said it hoped the king’s presence in the Mediterranean archipelago would draw holidaymakers. Like other assets including the royal palaces, the luxury yacht is owned by the state and managed by the National Heritage for the use of the 75-year-old king and his family. But the king has taken sail with the yacht less frequently in recent years, making his last outing in August last year. ‘The king has taken the decision to ask the National Heritage to proceed with the release of the asset,’ a spokesman for the institution said late Thursday. The National Heritage board must now approve the yacht’s transfer to the government, which could decide to keep it or sell it. Juan Carlos won wide respect in Spain for helping guide it through a political transition after the death of dictator Francisco Franco in 1975. But polls show public confidence in the royal family slumping as people smart from severe cuts to welfare, a double-dip recession and an unemployment rate of more than 27 percent. The king’s son-in-law, former Olympic handball player Inaki Urdangarin is engulfed in a corruption probe over a non-profit institution he ran from 2004-2006 and his wife — the king’s younger daughter Cristina — is at risk of being dragged into the affair. The king provoked outrage among Spaniards in April last year when he took a luxury elephant-hunting safari in Botswana in the midst of the economic crisis. The holiday was only discovered when the king broke his hip and had to return to Spain for treatment, leading the monarch to issue an unprecedented apology. More news from1.1 million young arabs complete course to prepare for better careers. Course offers training in English language, interviewing skills, resume writing, and job search tips business 2 hours ago --> UAE: 3 major attractions announce opening dates as summer heat endsBeloved to tourists as well as residents, these spots not only fulfil your food and shopping cravings, but also provide experiences in nature uae 2 hours ago --> Where in the world is closest to becoming a '15-minute city'?It means that residents are within a quarter-hour walk or bike ride from everything they need to a lead a good life world 2 hours ago --> Watch: How UAE's Sultan Al Neyadi learnt to walk again after 6 months in spaceThe Minister of Youth shared some exercises — from walking to fitness and balance training — integral to his reconditioning programme uae 3 hours ago --> New Iran president vows to ensure morality police don't 'bother' womenPezeshkian's remarks came as the Islamic republic marked the anniversary of the September 2022 death of 22-year-old Iranian Kurd Mahsa Amini in police custody world 3 hours ago --> Suspect in Trump assassination attempt charged with gun crimesAgents opened fire on a gunman who was spotted with an assault-style rifle hiding in bushes at one of Trump's Florida golf courses americas 3 hours ago --> Taylor Swift fans raise over $40,000 in wake of Trump's post hating on starThe superfans stumping for Kamala Harris are not formally affiliated with the artist who unites them world 4 hours ago --> UAE issues tips for safe web browsingFrom choosing secure connections to avoiding risky pop-ups, here's how you can protect your privacy uae 4 hours ago --> Type your keywords |
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The Fortuna was the last in the king's line of vessels, which stretches back to 1970, and has included three yachts and a sailing boat, all of the same name. Like his forebears and his children, Juan Carlos is a passionate sailor, who represented Spain in the 1972 Olympics.
News to prick up the ears of brokers as King Juan Carlos of Spain renounces the use of his royal yacht, the 41.5m ultrafast motor yacht Fortuna. Delivered by Izar in 2000, Fortuna was crowned the world's fastest superyacht, reaching 68 knots.
Formerly called Fortuna and known the world over as the King of Spain's royal yacht, the 41.5m motor yacht Foners is now for sale with Nigel Wales at Arrival Yachts.
The businesspeople who gave the $27 million, 136-foot yacht to King Juan Carlos of Spain 13 years ago want him to return it rather than give it to the government.
The King of Spain is trying to give the 136-foot Izar Fortuna to the government, but a consortium of businesspeople say they want her instead. Not long after the 136-foot Izar Fortuna launched in 2000, she was crowned fastest yacht in the world, besting 66 knots.
Back in June, we told you about a dispute in Spain over the 136-foot Izar Fortuna. She was built in 2000 for King Juan Carlo of Spain, and he was trying to give her back because it didn't look very good to have him owning a yacht with the nation's unemployment rate inching toward 30 percent.
King of Spain seeks owner for his yacht. The yacht Fortuna, which has belonged to the Spanish royal family for more than 13 years, is looking for new owners. The vessel, which has been renamed Foners, has been refurbished and is currently located in Mallorca. This vessel is now fully prepared for the sale, which was first announced in May last ...
King Juan Carlos has renounced the use of his luxury yacht, which costs the taxpayer 25,000 euros to refuel, in the latest nod to austerity by the Spanish royal family.
Spain's King Juan Carlos is giving up a 21-million-euro ($27 million) yacht named Fortuna, officials say, as his subjects weather a biting recession and record unemployment.
Spain's King Juan Carlos is giving up a 21-million-euro ($27 million) yacht named Fortuna, officials say, as his subjects weather a biting recession and record unemployment. The 41.5-metre (136-foot) yacht was donated in 2000 by a business group but left the king open to criticism during hard times in Spain. Each refuelling of the yacht costs ...
King Juan Carlos gave up his 136ft yacht Fortuna in a show of solidarity to those who were fighting austerity - and now its asking price has been dropped by nearly 2m.
King Juan Carlos last night announced that he is giving up his Palma-based royal yacht and handing it over to the State.. Palma. The 75-year-old king has had a spectacular fall from grace recently as scandals undermine public approval and his health weakens and last night the royal household announced that the crew of the Fortuna, which is based inside the Porto Pi naval base, has been told to ...
http://www.euronews.com/ Spanish King Juan Carlos has given up his 21 million euro yacht. The move comes as Spain suffers under bitter austerity measures and...
One of the surprising cutbacks is that King Juan Carlos of Spain is relinquishing his approximately, 21 million-euro ($27 million) yacht - tiled " Fortuna .". As the European country of Spain continues to battle the never-ending recession and record unemployment, hard choices must continue to be made. The Fortuna yacht is similar to other ...
This is Fortuna, owned by His Majesty King Juan Carlos of Spain, and enjoyed by his family and royal friends. Summer visitors to the Marivent Palace in Palma de Mallorca, such as Britain's Prince Charles and Princess Diana or King Constantine and Queen Anne Marie of the Hellenes, are invariably invited onto the water, for a high-speed cruise.
Previously known as Fortuna, she was built by Spain's Astilleros Bazan yard to DNV class and launched in 2000 as the King of Spain's royal yacht. Her interior is in gloss sycamore wood throughout with stitched tan leather detailing. The main saloon is large and has settees, occasional chairs and tables, a 46 inch television/entertainment centre and a formal dining area.
About Foners Previously known as Fortuna, she was built by Spain's Astilleros Bazan yard to DNV class and launched in 2000 as the King of Spain's royal yacht.
Spain's King Juan Carlos is giving up a 21-million-euro ($27 million) yacht named Fortuna, officials say, as his subjects weather a biting recession and record unemp...
The yacht of the King of Spain, Juan Carlos, which was put up for sale a couple of months ago, has significantly lost in value. As reported by The Guardian, the luxury vessel has fallen in price by 20% - from €10 million to €8.25 million. Arrival Yachts, the agency that is selling the vessel, was forced to lower the rates as there were no buyers interested in purchasing the yacht. Some ...