Ambassadors International, Inc. today announced that the U.S. Bankruptcy Court for the District of Delaware has granted an order approving the sale of substantially all of Ambassadors’ assets, including its principal operating unit, Windstar Cruises, to TAC Cruise LLC, an affiliate of Xanterra Holding Corporation.

Windstar Cruises, with headquarters based in Seattle, Wash., will sail all published 2011 and 2012 voyages, maintain its customer programs and policies and honor Windstar fares and reservations, including charter contracts.

Ambassadors International has filed for Chapter 11 bankruptcy protection in the United States as it seeks to reorganise its finances. Simultaneously the company had signed with private investment firm Whippoorwill Associates to begin the sale of its assets – including Windstar Cruises.

Windstar Cruises, which operates a three-ship fleet of luxury yachts that explore hidden harbors and secluded coves of the world’s most treasured destinations, offers guests exceptional opportunities to experience the mythical beauty, rich history and ancient wonders of the Greek Isles on 7-day voyages between Athens, Greece and Istanbul, Turkey.

Windstar Cruises, which operates a three-ship fleet of luxury yachts that explore hidden harbors and secluded coves of the world’s most treasured destinations, offers guests exceptional opportunities to experience the mythical beauty of the Greek Isles aboard 7-day voyages on Wind Surf in 2011.

Windstar Cruises, which operates a three-ship fleet of luxury yachts that explore hidden harbors and secluded coves of the world’s most treasured destinations, offers new Mediterranean shore excursions for 2010.