Norwegian Cruise Line sights financial U-turn in Q2

Norwegian Cruise Line sights financial U-turn in Q2

Norwegian Cruise Line recorded a net profit of $15.4 million in the three months ending June 30 following a $27 million loss for the same period last year.

EBITDA has improved by 87% to $84.2 million against $45.1 million for the same period in 2008.

NCL said for the remainder of 2009, capacity is “substantially booked” but at lower prices than last year, particularly in the third quarter.

Reviewing the past quarter, CEO Kevin Sheehan: “I am very pleased with our performance this quarter especially given the current economic climate. Despite the weakness in ticket pricing, we are continuing to achieve improvements in our earnings and have begun to demonstrate consistency in our performance.”

He also mentions: “Although I believe we are moving beyond the low point with regard to ticket pricing, we must maintain our diligence in controlling costs and carrying out our strategic initiatives.”

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“Our continuing razor focus on all aspects of our operation, from revenue management to shipboard and shoreside operations, has resulted in record-setting EBITDA for the quarter and an enormous turnaround from our performance just a year ago. Our entire organisation has rallied together to achieve these excellent results.”

NCL’s next gen Freestyle Cruising ship - Norwegian Epic, was floated out of its dry-dock to the outfitting dock recently where work on it’s interior has begun.


“We are looking forward to her delivery next summer. Sailings through April 2011 are open for sale and the response from the public has been very positive to date.”