Royal Borrows Money

[Ocean Boy]

13 minutes ago, Polly1922 said:

We have no concerns about getting on the ship.

Lots of people on the P&O UK site got emails at 8am this morning offering cancellations with a mix of money back and FCC.

Lots of people expressed a desire not to cancel with the OBC offer.

Without the OBC offer would they have cancelled? If so then I don't understand how the offer lessened their concern. If they would not have cancelled then the cruise line didn't do itself any favor by giving away the money.

[tcfc424]

Increasing the availability of credit is something all companies with the ability should be doing at the moment.  The cost is low, and balance sheets and income statements still look rosy.  In a month, or two or three they may not look as good and/or they may not be in as enviable of a borrowing position.  It's not just hospitality companies doing so...it's the broad majority of them, and it certainly doesn't effectively point to insolvency.

[Polly1922]

11 hours ago, Ocean Boy said:

Without the OBC offer would they have cancelled? If so then I don't understand how the offer lessened their concern. If they would not have cancelled then the cruise line didn't do itself any favor by giving away the money.

Reading the P&O UK site this morning it seems most of the regular posters are cancelling still.

We are fully booked for the next 12 months to coincide with my work holidays so we couldn't change if we wanted to.

I suspect our ship will not be full.

 

[grapau27]

11 hours ago, Ocean Boy said:

Without the OBC offer would they have cancelled? If so then I don't understand how the offer lessened their concern. If they would not have cancelled then the cruise line didn't do itself any favor by giving away the money.

A lot of P&O customers book when the cruises are launched sometimes almost 2 years in advance at very favourable prices.

Cancelling now with FCC similar cruises later this year have almost doubled in price hence the reluctance to cancel.

Until yesterday we were all unsure when P&O would follow other Carnival brands cancellation policy because until then our option was to go or lose most of our money by cancelling.

[gatour]

12 hours ago, Ocean Boy said:

Without the OBC offer would they have cancelled? If so then I don't understand how the offer lessened their concern. If they would not have cancelled then the cruise line didn't do itself any favor by giving away the money.

I doesn't lessen their concern, just offers them a financial incentive to overcome their concern.

[Ocean Boy]

26 minutes ago, gatour said:

I doesn't lessen their concern, just offers them a financial incentive to overcome their concern.

If I had TRUE concern about an issue that could impact my health, some OBC on a cruise ship would hardly mitigate or help me "overcome" that concern.

[grapau27]

6 hours ago, Ocean Boy said:

If I had TRUE concern about an issue that could impact my health, some OBC on a cruise ship would hardly mitigate or help me "overcome" that concern.

The British government has effectively banned over 70s and anyone with a chronic health issue from cruising.

[Garyjames220]

I have a 2600 FCC is people saying this is at risk to losing the lot ?

[Ocean Boy]

1 hour ago, Garyjames220 said:

I have a 2600 FCC is people saying this is at risk to losing the lot ?

I think the risk is if the cruise line declares bankruptcy protection to get through the hard times. If that were to happen then FCC, stock, etc., could become worthless depending on the restructuring.

[Garyjames220]

1 hour ago, Ocean Boy said:

I think the risk is if the cruise line declares bankruptcy protection to get through the hard times. If that were to happen then FCC, stock, etc., could become worthless depending on the restructuring.

I just called my credit card company and they said my money would be refunded by them as part of some credit act for not receiving goods/service

 

thank goodness for that if they did happen 

[Polly1922]

On 3/12/2020 at 11:01 PM, Garyjames220 said:

I just called my credit card company and they said my money would be refunded by them as part of some credit act for not receiving goods/service

 

thank goodness for that if they did happen 

Section 75 in the UK covers anything over £100 even if you only put £1 of your bill on your credit card.

I would expect it to be the same elsewhere.

[gatour]

On 3/12/2020 at 8:49 AM, Ocean Boy said:

If I had TRUE concern about an issue that could impact my health, some OBC on a cruise ship would hardly mitigate or help me "overcome" that concern.

There are different levels of TRUE concern.  While your level may be lower than others and OBC won't help you overcome that concern.  For other people with a higher tolerance level of risk to their health, may be willing to accept obc to get over the "hump".

 

It is like when you are dealing with a financial adviser.  They ask their clients to answer questions to help them determine how comfortable with risk vs rewards.

 

Some people are risk adverse are so willing to accept lower potential rewards.  I.E. a return on investment of 2% with very little risk to the initial investment capital.

 

While others are not risk adverse and are willing risk losing a greater percentage of their initial investment capital vs gaining a return on investment of 10%

 

In regards to your health, sounds like you are the former, while others are more like the latter who are willing to risk their health for some OBC.

 

Different strokes for different folks.

[Ocean Boy]

48 minutes ago, gatour said:

There are different levels of TRUE concern.  While your level may be lower than others and OBC won't help you overcome that concern.  For other people with a higher tolerance level of risk to their health, may be willing to accept obc to get over the "hump".

 

It is like when you are dealing with a financial adviser.  They ask their clients to answer questions to help them determine how comfortable with risk vs rewards.

 

Some people are risk adverse are so willing to accept lower potential rewards.  I.E. a return on investment of 2% with very little risk to the initial investment capital.

 

While others are not risk adverse and are willing risk losing a greater percentage of their initial investment capital vs gaining a return on investment of 10%

 

In regards to your health, sounds like you are the former, while others are more like the latter who are willing to risk their health for some OBC.

 

Different strokes for different folks.

What a lot of nonsense.