Posted on 05/05/2020 10:22:04 AM PDT by Capt. Tom
Norwegian Cruise Line Holdings Ltd., amended a filing with the Securities and Exchange Commission on Tuesday citing financial losses due to coronavirus mean there is “substantial doubt” the company can “continue as a going concern,” raising the specter of bankruptcy.SNIP
The filing notes that in addition to the suspension of cruising, there has been a decline in advance bookings, and notes it remains under a “no sail order” from the Centers for Disease Control and Prevention that could extend into late July. At present, the three lines have canceled cruises through June 30.
(Excerpt) Read more at chicagotribune.com ...
I think part of the reason Carnival is booking so well is it’s not requiring a note from a physician saying the passenger is free of health conditions such as diabetes, heart disease, etc. That’s what RCL is requiring currently. So imo their customers are flocking to Carnival.
Carnival appears not to be using all it's ships right away in the comeback.
Also Carnival has 20 more cruise ships coming in the next 5 years, that may be hard to fill.
Carnival 4--Princess 3-- Hol. Amer. 2--Costa 4-- Aida 3--Cunard 1--P&O 2--Seaborne 1 - Tom
Carnival was going to start June 27 but just cancelled those sailings and is now starting Aug 1 for that month with only 8 ships out of 3 ports Galveston, Miami, and Port Canaveral...starting Sept 1 they will only go out of US ports on the East Coast for the rest of the year...Not Alaska, Hawaii or CA...Theyre getting fully booked...
I second your post. No bailout for Illinois!
Bookmark
Makes sense by Carnival, because the crowd is mostly OLDER people, and most are obese, high blood pressure, have diabetes but just don’t know it yet. Carnival knows their customers!
if the rats get Mail voting in enough states to reach 270 EC votes Biden is a lock.
I read last week about 18 cruise ships rendezvoud in the Bahamas and exchanged crews that they would return to other countries around the world because of air flights not available and the crew contracts were up.
My travel agent here in the Boston area, might be going out of business if this continues, as it also affects airlines and hotels. -Tom
Travelers concerned about the future of Norwegian Cruise Line – and their refunds or cruise credits – can breathe a sigh of relief. A day after the cruise ship operator warned of a cash crunch that threatened its future, its parent company said Wednesday that it has lined up $2.2 billion in new financing that will tide it through the industry-wide shutdown that is devastating business. Norwegian Cruise Line Holdings said with the latest infusion, it will have $3.5 billion at the ready. It said in a statement that it "significantly strengthens the company's financial position" even if the shutdown were to drag on, perhaps as long as a full year.
As a result, its warning in a corporate filing Tuesday that it may not be able to stay in business is now off the table.
"When the transactions are completed, the additional liquidity alleviates management’s concern about the company’s ability to continue as a going concern for the next 12 months," Norwegian said in the statement.
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