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Article: Euro Disney stumbles to meet debt payments amid tourism industry woes
- Article from:
- AP Worldstream
- Article date:
- August 1, 2003
- Author:
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Dateline: PARIS
Mickey Mouse is smiling a lot less in Europe these days.
Persistent debt, lagging tourism revenues, a morose economic picture
and French strikes have cast a pall over Mickey's masters at Euro
Disney SCA, the operator of two theme parks outside Paris.
At this time of year, Disneyland Paris should be teeming with European
visitors. But thin tourist traffic and an inability to meet bank agreements
are making this a summer of discontent for the company.
Because of unexpectedly low park attendance and hotel occupancy, Euro
Disney said Thursday that it doesn't expect to meet bank covenants
in fiscal 2003 and 2004 _ even though its parent, The Walt Disney ...