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.
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)
Problem is the line in the report ‘ lack of advance bookings’. This as opposed to Carnival that is booking like crazy.
Time for Blue states to follow.
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.”
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...
Should’ve taken the Swedish approach!
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.