What concerns me about cruise lines is they are so far in debt, that it looks to me like they are going to have to reorganize.(Chapter 11 Bankruptcy)
In spite of all the pent up demand, I believe like the author, eventually their creditors will put them into reorganizing. -Tom
These cruise lines must be getting crushed by the diesel prices.
“What concerns me about cruise lines is they are so far in debt, that it looks to me like they are going to have to reorganize.(Chapter 11 Bankruptcy)”
Agree, and I thought they’d collapse over a year ago. Surprised, though, that investors/banks are even willing to lend to them, as they’re totally at the mercy of Fauchi.
Let them keep talking about more booster shots required to travel, and see who’s willing to book
( not me)
The unsecured bonds aren’t trading at levels indicating a high probability of Chapter 11. While that could change, they did raise a lot of capital during the pandemic. Bonds were refinanced and billions in stock were issued. My guess is a lot of window dressing took place - to remove losers from portfolios before quarter end mutual fund reporting, when holdings have to be disclosed.
I worked as an AB and third officer for American Hawaiian Cruises ship the Indepdence, an old American Export Line ship.
In the late 1990’s the company took on debt to build two coast wise ships and two major cruise ships to replace the Independece and Constitution. The company went out of business just after 9/11 but their cash flows from operations had been declining for sometime and when all the flight to Hawaii were cancelled, the company just ran out of cash to pay the bills.
ping for cruise line info. -Tom
How about the airlines? If I can’t get a flight without it being cancelled, why would I buy a cruise ticket?
All according to the green new deal plan. Those cruise ships have a great big carbon footprint.
I’m keeping mine. They will go back up. I may even buy more. I did last week.
I am on schedule to book 54 more cruises in next 14 years.
Cruises are never going to go out of business. Cruise companies can go out of business. Then other entrepreneurs will buy the ships and continue cruising.
On my last cruise in April, there was no mandate to wear masks. And I am hearing the vaccination requirement will go away in September.
I saw on local Florida TV yesterday that the newest Disney ship was due to sail from Port Canaveral and that it was booked solid. It seems there is demand so why isn’t there cruise line performance meeting that demand making record profits?
Before Covid, the economy was good, gas cheap, and cruises affordable for most that wanted. The War on The People via Covid wrecked the economy, putting cruise lines on the ledge. And Go Brandon’s War on Gas & Oil has is pushing them off the ledge because people can’t afford the luxury of a cruise even with the Covid over.
We went to Frisches last night and their salad bars are closed…permanently. He didnt specify but I got the feeling he was meaning all their restaurants.
It’s getting bad and I have a sinking feeling it will be worse than I’ve ever seen before. Oil embargo, real estate bubble, Carter inflation years., COVID etc.
My wife and I used to do one or two cruises per year and occasionally three. But right now there is no way I am going to get on a cruise and get tested and tested and tested and tested and have to wear a mask all the time, have to deal with all sorts of idiot protocols, and be paying for amenities that I can’t use.
No thank you.
Coming soon, Pureblood Only Cruises.
-PJ