Why do bailouts at all instead of letting them go bankrupt? Bankruptcy doesn't mean that people lose their jobs, it means that investors / lenders lose money.
bankruptcy does mean the people who worked there would lose their jobs. They will have to be re-employed, if the new buyer of the assets sold to cover the debts, decides to continue running a cruise liner. This certainly takes some time, and in the interim, all the employees will be fired (or at least, not paid).
If the gov't bails out the cruise liners, they may be able to force them to continue paying the employees in the intrim, and so "save" them from being unemployed and "save" welfare. The gov't can also end up owning equity in the business (which is not a bad thing - it's basically extra income for the state/treasury in the future).
If the gov't bails out the cruise liners, they may be able to force them to continue paying the employees in the intrim, and so "save" them from being unemployed and "save" welfare. The gov't can also end up owning equity in the business (which is not a bad thing - it's basically extra income for the state/treasury in the future).