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66% of NCL's advance ticket sales are FCC?!?

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On 8/7/2020 at 10:13 AM, Trimone said:

All new booking should be suspended, until a cruise date is set in stone, they are taking hardworking customers money with no date in sight, they have no other form of income before they sail again. It’s all promises 

There is nothing wrong with selling cruises in fall/winter of 2021 or 2022. Most cruisers are educated enough by now to know the potential risk when they make their bookings. It's their call, not NCL.

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On 8/7/2020 at 12:13 PM, Trimone said:

All new booking should be suspended, until a cruise date is set in stone, they are taking hardworking customers money with no date in sight, they have no other form of income before they sail again. It’s all promises 

 

Those "hardworking customers" have a ton of information readily available to allow them to make their own decisions.   No one from NCL is coming to their home and strong arming them to hand their cash over.

 

Caveat Emptor - Let the buyer beware.

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10 hours ago, npcl said:

Nope.  The 1.2 billion is all monies received for cruises not yet taken, in whatever form received cash deposits, fcc's etc. It does include deposits.

 

It is strictly the amount the company is liable for in case those cruises are not conducted and the value must be refunded.

 

 

You are correct.

NCLH also been required by credit card processors to increase its reserve to pay back deposits for canceled cruises to 770 million dollars of which 70 million must be held in cash. The other 700 million is 2nd lien debt.

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10 hours ago, ColeThornton said:

 

Those "hardworking customers" have a ton of information readily available to allow them to make their own decisions.   No one from NCL is coming to their home and strong arming them to hand their cash over.

 

Caveat Emptor - Let the buyer beware.

Good comment  - but you have this thread  missed from the investors call the most significant things 

 

  • No capacity for any future secured borrowing wow that is some admission
  • Turnover for the last quarter $16 million - not sure what turnover, but its miniscule
  • Balance sheet is looking horrible with all capital raises 
  • FDR still wittering on about holding prices firm but then saying he would "Market to full" another word of saying deep discount. The man was reading from a script it was downbeat. They even admitted that TA were going out of business and their channel to market was going to need  to adapt. The pent up demand of course-  but what levels. We are vets of over 50 NCL cruises and will no longer cruise at this time as we feel it is unsafe and in any event Brits can not travel without Quarantine to a lot of countries.
  • Not one word about Leonardo class - other than one of them in 2022. The banks will not lend for new ships without seeing demand pick up 
  • He will have to discount as all other lines will discount.
  • The rate for  funding is 12% approx and the hedge funds are now sitting on enough debt to need a very strong stomach and will not want anymore IMHO.

NCL is like all lines in the dark now and the FCC are going to hurt them. Its correct to say they have spent that money.

 

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3 hours ago, bmwman said:

Good comment  - but you have this thread  missed from the investors call the most significant things 

 

  • No capacity for any future secured borrowing wow that is some admission
  • Turnover for the last quarter $16 million - not sure what turnover, but its miniscule
  • Balance sheet is looking horrible with all capital raises 
  • FDR still wittering on about holding prices firm but then saying he would "Market to full" another word of saying deep discount. The man was reading from a script it was downbeat. They even admitted that TA were going out of business and their channel to market was going to need  to adapt. The pent up demand of course-  but what levels. We are vets of over 50 NCL cruises and will no longer cruise at this time as we feel it is unsafe and in any event Brits can not travel without Quarantine to a lot of countries.
  • Not one word about Leonardo class - other than one of them in 2022. The banks will not lend for new ships without seeing demand pick up 
  • He will have to discount as all other lines will discount.
  • The rate for  funding is 12% approx and the hedge funds are now sitting on enough debt to need a very strong stomach and will not want anymore IMHO.

NCL is like all lines in the dark now and the FCC are going to hurt them. Its correct to say they have spent that money.

 

They have nil income in reality, they are marketing something that doesn’t exist, taking cash to survive, when cruising does return how will they fund it, it’s obvious that some of the exclusive previous suppliers will now not exist, so new relationships will have to be secured, money, quality control etc.

Well folks senior management are going to start earning their money, or are the sharks circulating? 

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The sharks are already circulating. It is a question of how hungry they are and when they will strike. In any survival situation, the strong will survive and the weak always ends up as someone's dinner.

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