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HAL NEEDS MONEY

mcrcruiser

By mcrcruiser,
in Holland America Line

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mcrcruiser

mcrcruiser

Posted
Posted

Just got a e-mail from HAL asking that if we paid for our cruise in full they give us a discount of 10% or  even lower payment toward the balance still get 10@ off . Seems to me that CCL corp is trying to raise cash with out issuing more stock again or special financing with a much lowered credit rating 

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srpilo

srpilo

Posted
Posted (edited)
8 minutes ago, CruiserBruce said:

This has been going on for a while. It has also been widely reported that CCL estimates they have enough cash to last into the 4th quarter of 2021.

 

What tourist business doesn't need cash now?

 Exactly ...

 

 

Old News

Srpilo 

Edited by srpilo
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ScottC4746

ScottC4746

Posted
Posted
1 hour ago, mcrcruiser said:

Just got a e-mail from HAL asking that if we paid for our cruise in full they give us a discount of 10% or  even lower payment toward the balance still get 10@ off . Seems to me that CCL corp is trying to raise cash with out issuing more stock again or special financing with a much lowered credit rating 

So I got off the phone with HAL asking about the details.  In my case if I paid off I would only save $440.  It is based on the cruise fare only and not the taxes and fees.  My $100 OBC would go to $250 OBC.

Now the big question is refunds if I need to cancel or if we end up with another summer like this year.  Bard at HAL said even if I pay it off in full now, it would be 100% refundable up to the date that cancelation fees start applying even if I don't have cruise insurance purchased.  He did say to wait and buy cruise insurance the day before cancelation fees apply and that way if we have to cancel or it gets canceled, 100% less the insurance is refundable back to the same method you paid.

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mcrcruiser

mcrcruiser

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5 minutes ago, CruiserBruce said:

This has been going on for a while. It has also been widely reported that CCL estimates they have enough cash to last into the 4th quarter of 2021.

 

What tourist business doesn't need cash now?

Yes they all need money ;however ,Mr Donald CEO of Carnival corp has stated that the corporation had sufficient cash to carry it through the summer of 2921

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mcrcruiser

mcrcruiser

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8 minutes ago, ScottC4746 said:

So I got off the phone with HAL asking about the details.  In my case if I paid off I would only save $440.  It is based on the cruise fare only and not the taxes and fees.  My $100 OBC would go to $250 OBC.

Now the big question is refunds if I need to cancel or if we end up with another summer like this year.  Bard at HAL said even if I pay it off in full now, it would be 100% refundable up to the date that cancelation fees start applying even if I don't have cruise insurance purchased.  He did say to wait and buy cruise insurance the day before cancelation fees apply and that way if we have to cancel or it gets canceled, 100% less the insurance is refundable back to the same method you paid.

If you had the Chase Sapphire Preferred Credit card & booked with that CC you can get up to $20000 per person free trip cancellation ,free trip interruption  insurance with full refund based on illness only not if the cruise line files to go BK  .The CC also cover baggage up to $1000 per person . & no foreign transaction fees  &  free waiver for rental car damages plus other benefits

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mcrcruiser

mcrcruiser

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12 minutes ago, ScottC4746 said:

So I got off the phone with HAL asking about the details.  In my case if I paid off I would only save $440.  It is based on the cruise fare only and not the taxes and fees.  My $100 OBC would go to $250 OBC.

Now the big question is refunds if I need to cancel or if we end up with another summer like this year.  Bard at HAL said even if I pay it off in full now, it would be 100% refundable up to the date that cancelation fees start applying even if I don't have cruise insurance purchased.  He did say to wait and buy cruise insurance the day before cancelation fees apply and that way if we have to cancel or it gets canceled, 100% less the insurance is refundable back to the same method you paid.

The catch us the refundable part .If the cruise line went into BK or worse where would your funds be then ? imo ,I would not place my trust in any cruise line at this point in time 

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Hlitner "Live from...." Rare

Hlitner

Posted
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1 hour ago, mcrcruiser said:

Yes they all need money ;however ,Mr Donald CEO of Carnival corp has stated that the corporation had sufficient cash to carry it through the summer of 2921

And of course there is no reason to distrust the CEO or any Corporation when they make positive statements about their company :).

 

Hank

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Mary229 "Live from...." Rare

Mary229

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HAL needs money says the headline.  Me too, I need money.  

 

I am confident that some of the cruise industry will rebound, I think the subsidiaries of the Carnival Corp will rebound, reinvented and likely much leaner with higher fares but they will rebound.  There are many smaller lines which will not be here a year from today.

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foodsvcmgr Great Review Rare

foodsvcmgr

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If it was a travel agency making an offer like this it would be seen as on obvious and dangerous red flag being waved. Highly suspect to say the least.

I don’t think Carnival Corp. will go out of business especially in view of vaccines coming out, but I find a ploy this blatant to be distasteful.

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Roz Great Review Rare

Roz

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25 minutes ago, foodsvcmgr said:

If it was a travel agency making an offer like this it would be seen as on obvious and dangerous red flag being waved. Highly suspect to say the least.

I don’t think Carnival Corp. will go out of business especially in view of vaccines coming out, but I find a ploy this blatant to be distasteful.

 

River cruise companies do this on a regular basis, most notably Viking.  This was going on pre-Covid.  They also won't take a credit card.  It has to be an e-check.  I think I'll take a pass.

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BobbiSox

BobbiSox

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10 hours ago, iancal said:

The Consolidated Statement of Cash Flows will be telling.

I have no experience with big finance, but it would seem common sense that after having a hit like the cruise lines have had, it would be risky to do business with them right now. What company profits from lack of revenue? I will wait until everything pans out before I consider booking with any line. 

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msmayor

msmayor

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I booked an 11-night on Nieuw Statendam for March 2022 a few weeks ago, but used two already - owned FCC's (at just $100 each) for the deposit.  Have it All promo, so drinks, gratuities, speciality dining, internet credit...plus the on board credit attached to our FCC's.  Oh...and casino rate too, so a really nice deal in and of itself.

 

Got this email yesterday, and while having another $250 of OBC is nothing to frown at I am not biting.  

 

The only reason this cruise got booked is that it didn't require any more money out of my pocket than the FCC I bought two years ago.  Unless/until I see that the ships are moving again, with paying passengers, and that things are on the upswing...money stays in my pocket.  Final payment is about a year away, and I'll have a much better idea then where things stand.

 

Thanks for the offer HAL...but I'll pass.

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CruiserBruce

CruiserBruce

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1 hour ago, BobbiSox said:

I have no experience with big finance, but it would seem common sense that after having a hit like the cruise lines have had, it would be risky to do business with them right now. What company profits from lack of revenue? I will wait until everything pans out before I consider booking with any line. 

But they have raised money...sold ships, sold shares of stock, to the tune of around 10 billion for Carnival Corp. Is it enough...well, yes, for the short term. That is the point of the statements that Carnival Corp has enough cash to last to later in 2021.

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