As the road back for the cruise sector grows ever long, Norwegian Cruise Line Holdings has confirmed a new wave of cancellations. Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises will not now return to operation until at least October.
As the hospitality industry seeks to rebuild trust among travellers, a cruise ship can be “safer than anywhere else in the world” Frank Del Rio, president and chief executive of Norwegian Cruise Line Holdings, has argued.
Norwegian Cruise Line has reported a net loss of $1.9 billion for the first three months of financial 2020, down from a profit of $118 million for the same period last year.
Having warned earlier this week it might not be in a position to continue trading in the wake of the coronavirus pandemic, Norwegian Cruise Line Holdings has secured fresh investment.
Norwegian Cruise Line has seen its share price crash by a fifth after warning there is “substantial doubt” about its ability to continue operations. The company said it did not expect to make any further cash in 2020.
Norwegian Cruise Line also owns and operates the Oceania Cruises and Regent Seven Seas Cruises brands. All 28 ships under the three flags are currently at anchor, with no sailings planned until June 30th at the earliest.
Amid the Covid-19 pandemic, Norwegian Cruise Line confirmed it was extending the suspension of all sailings across its fleet through to June 30th. The line had initially scrapped all sailings before May 11th.
Norwegian Cruise Line has revealed Andy Stuart will step down from his roles of president and chief executive of the line at the end of the year. Following the launch of Norwegian Encore, he will be replaced by Harry Sommer, currently president, international for Norwegian Cruise Line Holdings.
Norwegian Cruise Line has seen revenue increase 9.3 per cent, to $1.66 billion, for the three months to June 30th. The figure compares to that of $1.52 billion in 2018.
Norwegian Cruise Line will introduce a new Free at Sea programme from April 2nd for cruises booked in the UK and Ireland.
With delivery scheduled in late 2023, the new vessel will be a sister ship to Seven Seas Explorer and Seven Seas Splendour. Accommodating up to 750 guests, the new ship will be Regent Seven Seas Cruises’ sixth-all-suite vessel.
The company has obtained export credit financing with favourable terms to fund 80 per cent of the contract price of each ship, subject to certain Italian government approvals.