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Because of greatly over-optimistic pre-opening predictions of passenger numbers, the lines failed to generate the income expected and needed to fund the interest payments on the UERL's substantial borrowings.
Similar(58)
"I expect we'll see some fairly significant borrowings from some of the major financial institutions.
The deal came at a cost of higher interest rates on some of its borrowings and substantial dilution for its stockholders.
It has $2.38bn in the bank and $350m in borrowings, giving it substantial assets.
Nevertheless, its borrowings from the neighbouring languages, especially of words and idioms, are quite substantial.
In actual practice, however, there have at times been substantial deficits in the special accounts that have had to be covered by direct government appropriations, borrowings, and transfers of funds from one account to another.
So the firm borrowed short-term money instead, and it is now refinancing those borrowings.
Net borrowings were pounds 2.5m.
It had borrowings of £4bn.
Should we resent these borrowings?
These borrowings are now overdue.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com