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 ...
In this case, bankruptcy. Failure to open this nation up is going to lead to a lot more of this. It is either open up right away, or we go into a great depression. Mark this post.
Even if we open the country as rapidly as possible, I think cruise lines are in for a year of tough sledding. That petri dish reputation is hard to shake after the Diamond Princess quarantine, and several others like it.
We (non FluBros) expected this. Regardless of what governments do, as long as those ships continue to recirculate air, people will get sick, and the media will report just that.
So modifications are required to assure fresh air, but will take several years to get through their fleet, so they never had a chance.
(and considering they wouldn’t refund my Feb 6 trip in Asia, which I wisely aborted, I can’t say NCL’s bk bothers me)
Yes, it could be. Refusing to open the country back up with some precautions like checking peoples' temperature, etc. is going to cause some VERY bad problems.
Problem is the line in the report ‘ lack of advance bookings’. This as opposed to Carnival that is booking like crazy.
I agree.
I felt if we started to open up on Easter, as was suggested by Pres. Trump, we make it back economically rather quickly.
But we are not opened up right now ,and it looks like some States will keep the shutdowns going, and that is enough for me to see a much longer recovery period, maybe years, and more bankruptcies and thousands of jobs lost. -Tom
Time for Blue states to follow.
Trump should have gone with his instincts Easter weekend but Deborah and Fauci stormed the office with their BS charts and talked him out of it. That was the moment which may cost him his re-election and doom the country.
I fear you are correct - Mississippi is opening up restaurants (with capacity restrictions) this Thursday...the Blue States will drag their feet until they are actually bankrupt and then demand everyone else pay for their malfeasance and for the mismanagement of decades under Dem rule...hope they get what they’re asking for and not what they demand...(might want to read it a few times before anyone claims I want them bailed out...).
Norwegian is making a business decision. It is there choice as to how to deal with the customer base. I get emails from them just about every other day on take this trip or that, but none really sound that appealing until cruising becomes safe.
It said if it’s not able to maintain enough liquidity, “our business and financial condition could be adversely affected and it may be necessary for us to reorganize our company in its entirety, including through bankruptcy proceedings, and our shareholders may lose their investment in our ordinary shares.”
The blue states are milking this for all it is worth. They care less if they actually die as a state as their citizens die. It is all about getting Trump and the blue states will simply blame him as they demand BILLIONS to bail out not the economy but their pension plans. Taxes will be raised in the name of this and that and the sheep will obey. The blue staters know the vote stupids are a lock to oppose Trump in the election such as my worthless state of NJ.
Another casualty will be the economies of the Caribbean islands that depend immensely on the cruise industry. When I was in St. Maarten some years ago, there were 6 ships in port on the same day with a total of about 20,000 passengers (and thousands of crew, some of whom get shore-leave at each port of call). St. Maarten has only about 40,000 people. They hit around 2 million cruise passenger visits during their season. If the industry doesn’t rebound before the 2021 cruise season, there will be a massive depression in these small places.
Shoulda bought a squirrel!
I’ve got a cruise booked for October/November on NCL for my anniversary. *Fingers crossed.* My biggest concern is it departs from New York... probably the last place in the country that would be amenable to such a thing...
” I agree. I felt if we started to open up on Easter, as was suggested by Pres. Trump, we make it back economically rather quickly.”
That may work in many cases, but not for cruise ships - for them, if they don’t figure out how to keep people from infecting each other, the media will continue to report on their ‘cruises from hell’, until they invest the money needed to fix the problem (in their HVAC systems).
...and don’t see a way they can fix it, without financial help.
Should’ve taken the Swedish approach!
The decline of the cruise industry will affect plenty of people with collateral damage, including us Americans.
Think of all the workers at our American ports dealing directly with cruise ships.
The travel agencies that book trips, the airlines that transport cruisers, the hotels and restaurants that accommodate cruise passengers before and after cruise trips. The cities that collect large dockage fees, etc.
Plenty of jobs to be lost there. -Tom
States which are shuttered longer are MOSTLY BLUE states.
I am in Florida, which will open sooner than NY & CA.
What will make me very angry is bailout of mis-managed states like IL & CA by other states.
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