Norwegian Cruise Line sees 'substantial doubt' about its future, warns of possible bankruptcy as it seeks to raise $2 billion
"These factors have raised substantial doubt about the Company's ability to continue as a going concern," the company said.
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NCL...trouble
- Thread starter Club Cooloholic
- Start date
What makes this all more troubling is I actuslly invested a little bit in NCL during the dip because they were one if the few cruuse lines that was not launching any new ships in the near future, and had more cash reserves due to not paying dividends. I cant see Carnival or the others looking all that good right now. DCL has the rest of the company to lean on, but overall this is bad.
Sirwalterraleigh
Premium Member
I think all cruise companies are in deep doo doo...
More than anyone realizes as this point. Seemed logical almost from the start
More than anyone realizes as this point. Seemed logical almost from the start
Benjamin_Nicholas
Well-Known Member
It's tough for me to weep for companies who dodge US taxes by registering their ships in foreign waters.
And after the lawsuits against them have all settled, we'll see how they restructure. With more info coming out regarding their handling of COVID (and how early they knew about it), trial lawyers are going to have a field day with this.
And after the lawsuits against them have all settled, we'll see how they restructure. With more info coming out regarding their handling of COVID (and how early they knew about it), trial lawyers are going to have a field day with this.
That tax dodging is why you probably arent hearing too much bailout talk.
Benjamin_Nicholas
Well-Known Member
Phonedave
Well-Known Member
Often a flag of convenience saves tax dollars, allows the ship to use cheaper labor, and relaxed safety regulations.
Having your ships flagged in a different country is not the only reason for no bail outs.
The companies themselves, at a top level, are often not US companies, despite the number of US citizens they employ and having "business HQ" in Florida (often).
For example - Royal Caribbean, which owns Royal Caribbean and Celebrity is a Liberian company, not US
Carnival is a weird thing with two companies (British and US) doing business as one
Even DCL is not a US company - They are an English company.
Wendy Pleakley
Well-Known Member
I can't fathom going on a cruise right now.
Theme parks with reduced capacity and social distancing is one thing, but a confined space like a cruise ship. Nope.
Theme parks with reduced capacity and social distancing is one thing, but a confined space like a cruise ship. Nope.
ChuckElias
Well-Known Member
It's very possible that cruise ships will return to service with reduced capacity, as well. I just spoke to an MSC rep today who said they weren't sure what the CDC will require and that it wouldn't be a surprise if ships sailed at 50% capacity to begin.
disney4life2008
Well-Known Member
Hence cheap labor.
Phonedave
Well-Known Member
That would be interesting, because it essentially means every other stateroom is empty. Sure there would be some cases where two friends that were sharing a stateroom may now take two, but when I cruise with my wife, I want to stay in the same stateroom.
If it happens, I wonder how they will break it up. Will they keep the same ratio of inside/porthole/veranda/suites or do something diferent.
Wendy Pleakley
Well-Known Member
Even at reduced capacity, you're living on a ship with the same group of people for several days or weeks. If someone has COVID, I feel like there's still nowhere to hide.
In addition, are ports of call going to be comfortable with cruise ship passengers disembarking?
There are risks with anything, and there are things I'd be more comfortable doing right now, such as eating in a restaurant or getting a hair cut. A cruise is at or near the bottom of that list.
In addition, are ports of call going to be comfortable with cruise ship passengers disembarking?
There are risks with anything, and there are things I'd be more comfortable doing right now, such as eating in a restaurant or getting a hair cut. A cruise is at or near the bottom of that list.
ChuckElias
Well-Known Member
Good interview with the NCL CEO on what cruising will look like when operations resume.
thepointsguy.com
Norwegian CEO shares his plan for a cruising comeback — and it isn't what you think - The Points Guy
Norwegian Cruise Line Holdings CEO Frank Del Rio talks with TPG about when cruising will resume, how it will be different when it does, the line's stance on discounts and more.