Norwegian Cruise Line sees profits soar

Norwegian Cruise Line sees profits soar

Norwegian Cruise Line has seen adjusted EBITDA for the second quarter increase 29 per cent to $123.5 million – with more passengers paying more for their tickets with the line.

Net Revenue for the quarter ended June 30th also increased 19.8 per cent to $418 million from $349 million in 2010.

This was the result of a 14.9 per cent increase in capacity days, due to the addition of Norwegian Epic to the fleet in June 2010, along with an improvement in net yield of 4.2 per cent.

The increase in Net Yield was a result of both higher passenger ticket pricing and increased onboard spend per capacity day.

Regarding the results, Norwegian Cruise Line president, Kevin Sheehan, commented: “I am pleased to see continued strong net yield growth throughout the fleet.

“Controllable costs were kept in check despite this environment of high fuel prices, while initiatives aimed at improving the guest experience resulted in record satisfaction scores in the quarter.”

Net cruise cost per capacity day increased 1.1 per cent in the second quarter “primarily due to an increase in the price of fuel along with drydock-related costs substantially offset by business-improvement initiatives,” the company said.

The price of fuel in the second quarter increased 17.1 per cent to $595 per metric ton.