Jump to content

Norwegian in financial trouble - link to NCL thread


Recommended Posts

Active thread on the NCL forum. Looks like NCL is in worse financial shape than possibly thought. This hit CNBC. 
 

https://www.cnbc.com/2020/05/05/norwegian-cruise-line-says-theres-substantial-doubt-about-its-ability-to-continue-as-a-going-concern.html


some of this might be journalistic sensationalism, but this might not be far off base. 

 

********** There is a very active thread on Norwegian board if you want to discuss this!

 

 

Edited by Host Carolyn
Link to post
Share on other sites

Saw this on news this a.m.  DH thinks that if they do "go out" another line will buy them up.  With our economics being in such turmoil right now who knows what will happen in the next few months.  No sailings = no business = no income.  Don't know how deep the cruise line pockets are to keep up the expenses of running cruise ships without any passengers, paying dock fees, salaries of those still working, etc. 

Link to post
Share on other sites
14 hours ago, Shynook11 said:

This is exactly why I filed a credit dispute for a refund.

 

I can't imagine why NCL is in trouble.

 

Forced to halt all operations. Scapegoat of all problems. Customers whos cash flow is more important.

Link to post
Share on other sites
14 hours ago, Trueblueky said:

Would it be a surprise if a cruise corporation went out of business?  Or if CCL reduced the number of ships or brands?

 

I wouldn't be surprised by any of it.

 

1 hour ago, pe4all said:

Saw this on news this a.m.  DH thinks that if they do "go out" another line will buy them up.  With our economics being in such turmoil right now who knows what will happen in the next few months.  No sailings = no business = no income.  Don't know how deep the cruise line pockets are to keep up the expenses of running cruise ships without any passengers, paying dock fees, salaries of those still working, etc. 

 

The big three publicly held cruise lines (NCLH, RCL, CCL) are suspected to be holding enough cash to be able to survive for about a year with very limited revenue.  They're all still looking for the green stuff.  I think they'll all be OK until the end of this year; if they still can't cruise by New Year's Day, then all bets are off.

Link to post
Share on other sites

Hmm. Weird that NCL would sound the alarms about future viability, only to secure financing the next day or so.  Wonder if it was a "shake the tree" false alarm to get someone to finally budge.

 

I had been contemplating whether CCL Corp might try to scoop up NCL if there was an opportunity to do so.

 

Moot point now, perhaps.

Link to post
Share on other sites

"Norwegian also announcing a series of financial transactions that if completed would provide enough liquidity to fund operations even if its cruises remain suspended for over 12 months."

 

We should just stop playing the 'what if' games and see where they are 12 months from now. Not my cruise line of choice anyway. 

Link to post
Share on other sites

When you pay your money the cruise line as airlines used that money that week.  Knowing that money will always be coming in.   With no sailing, no one is buying cruises.   So no money is coming in.  I love cruising but I will have to see How the first cruises go before I will be committing to go cruising.

what Entertainment being offered, how food is being handled.   Can’t wear a mask in a pool   Ect.ect.  

Edited by jakeT
Link to post
Share on other sites

If you go to the NCL board you can read that this morning it was announced that they secured an additional huge amount of cash that they say will carry them through 12 months at least.


76 past cruises
Upcoming:
CCL Dream 8/22/2020. Western Caribbean
NCL Breakaway 1/10/2021 Western Caribbean
CCL Dream 5/16/2021 Western Caribbean
NCL Star 6/27/2021 - Scotland, Norway & Iceland

Link to post
Share on other sites

While chapter 11 bankruptcy may happen, I do not see one of the 3 major lines going out of business (it is just a matter of weathering the storm)

 

If the pause in sailings continues long term, the cruise lines will probably look to diversify into cargo transport or other marine markets as necessary to generate revenue 

Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Forum Jump
    • Categories
      • Forum Assistance
      • Cruise Critic's State of the Industry Report - Trends & Future Outlook
      • Q&A: Cruise Insurance with Steve Dasseos of TripInsuranceStore.com
      • New Cruisers
      • Cruise Lines “A – O”
      • Cruise Lines “P – Z”
      • River Cruising
      • ROLL CALLS
      • Digital Photography & Cruise Technology
      • Special Interest Cruising
      • Cruise Discussion Topics
      • UK Cruising
      • Australia & New Zealand Cruisers
      • North American Homeports
      • Ports of Call
      • Cruise Conversations
×
×
  • Create New...