Norwegian Cruise Line (NCL) has already made a name for itself as the cruise line that just keeps reinventing itself. Since its founding in 1966, Norwegian has experimented with a diverse array of ships, itineraries, and programming, and has rebranded itself several times. Now, the cruise line is hoping to rebrand itself once again, as it works to find a way forward after a rough first half of the year.
Norwegian Cruise Line (NCL) is still working on a path forward for a deal to buy its rival, which was approved by a U.S. Bankruptcy Court judge in January. The company’s chief financial officer, Frank Del Rio, said that it would “be a long time” before an agreement is reached between the two cruise lines. As the deal now stands, the merger is worth a hefty $3.8 billion, but that figure could change depending on the business conditions of the companies involved. There are four different types of blog posts: Technology, Self-Help, News, and Travel. The following table is an outline of the criteria for each post type: A blog post must have at least one
Norwegian Cruise Line is taking on the Centers for Disease Control and Prevention, leading the effort to reopen the cruise industry in July. One would expect the report on the company’s first quarter results today to leave a positive impression. But this doesn’t seem to be the case.
In the earnings report, listed companies traditionally report on their financial performance in the first three months of the year and their assessment of the future development of their business.
There is a perception that Norwegian Cruise Line Holdings is not as forward-looking and optimistic as Royal Caribbean. The cruise line said it was studying the CDC’s procedures and assessing whether July would be feasible.
The announcement of the results came one day after the CDC issued conditional orders to float Phase 2B and Phase 3. The CDC did the same when Royal Caribbean announced its earnings report two weeks ago.
It’s not yet clear if this was intentional, but it’s questionable whether Frank Del Rio is referring to phase 2A or phases 2B and 3 of the conditional sailing order when he talks about resuming cruises and says NCLH needs more clarification:
Frank Del Rio, CEO of Norwegian Cruise Line Holdings:
Regarding the resumption of cruises from the United States, we are still in discussions with the U.S. Centers for Disease Control and Prevention. Our team is working on recently released and amended technical guidance that requires further clarification on how the inclusion of vaccination requirements will affect the conditional rationing order and our future actions.
While the destination, cruises to the United States at 4. Resuming in July seems unlikely at this time, NCLH is concentrating on ensuring cruisers return safely wherever they go.
As the cruise line with the longest standing guest base on its three cruise lines, it will offer only vaccinated cruises on all of its first voyages. They leave the door open for future amendments of these guidelines. The cruise line now plans to resume cruises in three different areas: Britain, the Mediterranean and the Caribbean.
Related: Two Norwegian Cruise Line ships return to service in September
Photo courtesy of the company : Norwegian Cruise Line
Norwegian Cruise Line Holdings’ president and CEO, Frank Del Rio, recently sent two much-discussed letters to the CDC. In these letters, he urged the CDC to allow the cruise line to resume its cruises on July 4.
Given the cruise line’s vaccination schedule, this wasn’t a bad idea. And while the CDC has already implemented and approved the plan, it’s not clear if Noor will be coming to the US anytime soon. Recently, the airline even cancelled most of its flights from the US, for some ships until the fall of 2021. This is also reflected in the income statement:
The Company continues to actively engage with the CDC on the recently published and amended technical guidance and the inclusion of vaccines in the OSC. With little time left to get the ship ready for use and reach an acceptable and final agreement with the CDC, any resumption of shipments from U.S. ports in mid-summer could be in jeopardy.
For now, the company has planned the following renewals, and these cruises will likely continue:
- Norwegian Jade: Sea-day cruises to the Greek islands from Athens (Piraeus), Greece, from 25… July 2021,
- Norwegian Joy: Seven-day Caribbean itineraries from Montego Bay, Jamaica, starting at 7. August 2021
- Norwegian Jewel: Seven-day Caribbean itineraries from La Romana, Dominican Republic, departing on the 15th. August 2021.
- Norwegian Epic and Norwegian Getaway: Trips to the Mediterranean from Barcelona and Rome (Civitavecchia) from September.
- Marina: Will resume sailing in August, and will continue with the originally published schedule of the 29th. August 2021 in Copenhagen.
- Seven Seas Splendor: will be available from 11. In September 2021 we will sail again from the UK.
cruise ship Photo credit: StudioPortoSabbia / Shutterstock.com
NCLH is reporting a significant number of bookings for the first half of 2022, which are even ahead of 2019 figures. Many expected this, as 2022 is considered possibly the most successful year in the history of the tourism industry.
As of 31. In March 2021, the company had total debt of $12.2 billion and cash of $3.5 billion.
Worth reading: 10 benefits and tips for evaluating Norwegian Cruise Line shares
Since the 31st. December 2020, the Company has taken a number of additional steps to improve liquidity through an equity offering, the issuance of senior notes, amendments to loan agreements and deferral of costs for the construction of new vessels. Cash burn remains at the planned level of $190 million, or $170 million if debt adjustment costs are excluded.
These include ongoing vessel operating costs, administration costs, interest costs, taxes, debt deferral costs and planned capital expenditures not related to new construction. However, the financial balance should be maintained for some time:
Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd:
As we prepare for the upcoming cruise recovery this summer, we will continue to weigh our cash needs to maximize our financial flexibility and prepare well for the long recovery period.
Norwegian appears to have changed its course slightly from the positive outlook it gave in December, when it began dropping crew members off on ships waiting for CDC approval to set sail. Something that didn’t work and would make a difference in NCLH offices.
Also read : When will cruises resume in 2021?
NCLH is now much more cautious and, unsurprisingly, happy to wait and see what lies ahead in the coming months. With a reasonably healthy cash balance, she has the time and ability to do so.
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Frequently Asked Questions
Are Norwegian Cruises Cancelled?
It’s a Norwegian cruise line headline story: Norwegian Cruise Line Holdings Ltd. announced on 9/23 that the Norwegian Sky will not be sailing this season. The reason for the cancellation, according to NCL, is that a number of crew members are still under medical care after suffering from the norovirus on the Norwegian Jade . It’s no surprise the ship was plagued with norovirus as it hadn’t even been in service for one week. It left Baltimore on 9/12 only to return on 9/17 with sick passengers and crew. It’s a good thing that you already have your tickets and travel plans in order, because Norwegian Cruise Line has announced that they have cancelled all Norwegian Sky sailings between March 20 and April 2 and all Norwegian Sun sailings between March 20 and April 2. (Norwegian Sun sailings between April 3 and April 7 are still scheduled to sail. ) The company says the cancellations are due to a shortage of crew members.
What cruise lines are currently sailing?
The cruise industry is one of the fastest growing segments in the travel industry. Because of this, there are literally hundreds of cruise lines to choose from. This means that there is something for everyone, no matter the age, budget, or destination you’re looking for. Still, certain cruise lines are better for some trips than others. For instance, if you’re looking for a tropical destination for a family vacation, you might want to consider Royal Caribbean International, which offers many Caribbean cruises in addition to others. The same goes if you and your family are looking for a trip that includes the Disney Cruise Line, which offers itineraries in the Caribbean and Mexican Riviera that include stops in Disney’s private island. ~~ Norwegian Cruise Lines and Royal Caribbean Cruises are the two largest and most popular cruise lines sailing today. They both have been in business for more than 50 years and are well known for their large ships and immersive cruise experiences. While they both have similar amenities and itineraries, there are some unique differences in their ships that sets them apart.
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