UPDATE 2 – Norwegian Cruise Line Sees Strong Demand for 2022 Sailings; shows greater loss

0

(Add background, share price)

Aug 6 (Reuters) – Norwegian Cruise Line Holdings Ltd, which is expected to resume shipping from U.S. ports over the weekend, said it saw pent-up demand for 2022 cruises even as it reported a more quarterly loss important Friday.

A suspension of more than a year imposed by US health officials has forced cruise passengers to raise billions of dollars, with some even promising that ships and private islands will stay afloat.

Cruise lines have left US ports again in recent weeks, with guests and crews mostly vaccinated following lengthy discussions with the US Centers for Disease Control and Prevention.

Norwegian Cruise said the cumulative booked position for 2022 was above record levels and at higher prices.

Rival Group Royal Caribbean said on Wednesday that bookings for the 2022 cruises had “practically returned” to pre-pandemic levels.

Norwegian Cruise expects its monthly cash consumption to rise to about $ 285 million in the third quarter, from about $ 200 million on average in the second quarter, due to expenses related to restarting the cruise.

Norwegian Cruise, which expects its 28 ships to resume operations with guests by April next year, said its ship Norwegian Gem will depart Miami on August 15.

The company also goes to federal court on Friday in a battle that pits its plan to return to sea against Florida Governor Ron DeSantis’ vow to oppose COVID-19 “vaccine passports”.

As part of Norwegian Cruise’s plan to guard against a COVID-19 outbreak, the company will require passengers to prove they have been vaccinated, but banning anyone who refuses to prove their vaccination status will be against the law. Florida law.

The company’s net loss widened to $ 717.8 million in the second quarter ended June 30, from $ 715.2 million a year earlier.

Norwegian Cruise shares were down about 1% to $ 24 in pre-market trading. (Reporting by Praveen Paramasivam in Bangalore; editing by Shounak Dasgupta)


Source link

Share.

Leave A Reply