MAJURO, Marshall Islands (29 May 2008) — Troubled Bikini Atoll Divers will shut down in two weeks. Plagued by bad management, increasing fuel costs and unreliable air passenger service, Bikini Atoll Divers went bankrupt after piling up unprecedented losses. The struggling company was subsidized by the Bikinians' U.S.-invested resettlement trust fund, but recently its value has plummeted forcing local leaders to pull the plug and sink Bikini Atoll Divers. Officials said it is unlikely the company would be reopened given the difficulty of making its scuba diving and fishing business profitable. Although the company officially reopened in 2008, only two groups actually made it to the atoll this year including billionaire Paul Allen who arrived in his mega-yacht Octopus and spent a week at Bikini last February. For 13 years, Bikini Atoll has been known as a niche travel destination for well-heeled divers and sport fishing tourists. Unable to develop adequate tourism infrastructure to promote Bikini Atoll as more of a mainstream tourism destination capable of attracting a more diverse demographic, the remote islet struggled to sustain a tiny niche-market business aimed solely at the limited wreck diver and sport fishing market. | | Plagued by bad management, increasing fuel costs and unreliable air service, troubled Bikini Atoll Divers will shut down in two weeks after sustaining unprecedented losses. Despite rave reviews from the relatively few wreck divers and sport fishers who visited Bikini Atoll over the years, the trickle of tourist arrivals was inadequate to support a sustainable business model. © CDNN - CYBER DIVER NEWS NETWORKSCUBA FORUMDISCUSS THIS TOPIC - Dive in and have your say at Scuba Forum |
