Norwegian Cruise Line sees ‘substantial doubt’ about its future, warns of possible bankruptcy

[jim barclay]

By bye cruise industry.. I'm sure it will resurface in the future but in what form?

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.

www.cnbc.com

 

[ponyo]

Norwegian is the shittiest of the 3 majors. No major loss if they go under.

 

[dank69]

By bye cruise industry.. I'm sure it will resurface in the future but in what form?

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.

www.cnbc.com

The exact same form, probably.

 

[brycejones]

The exact same form, probably.

Poop cruises at low low discount prices.

 

[trenchfoot]

Sell'um to those Saudi princes who are always competing with each other for bragging rights in regard to who has the biggest yachts.

Floating retirement/nursing home community with the added attraction of being the foremost facility for treating seasickness.

Sell"um dirt cheap to Trump as floating resort casinos so when he bankrupts them (yes he will) all they need to do is forfeit/donate them to the Navy for target practice.

 

[jim barclay]

Norwegian is the shittiest of the 3 majors. No major loss if they go under.

IDK, I enjoyed my NCL cruise..however your missing bigger picture.. I think bankruptcy is a real possibility for all these cruise lines.

 

[pauldun170]

Big picture is companies may fail
People may lose their jobs.
New companies or mergers and aquisitions will see mega companies will see the boats get new flags and paint jobs.
People will have jobs again.

What is the long term impact to humanity if the cruise industry goes through a temporary shakeup?

 

[Wreckem]

Guess a lot of banks are going to own a lot of half billion to billion dollar ships soon.

 

[soulcougher73]

When demand returns someone will buy up or take up the mantle. Let em fail if the business model can't survive how they run it.

 

[Thump553]

Absolutely no way any federal money should go to bail them out, or any cruise line. The number of Americans they hire and the US taxes they pay are minimal, if at all.

If states or regions that benefit from them (like Alaska) want to bail them out, go for it.

 

[pauldun170]

Absolutely no way any federal money should go to bail them out, or any cruise line. The number of Americans they hire and the US taxes they pay are minimal, if at all.

If states or regions that benefit from them (like Alaska) want to bail them out, go for it.

Norwegian Cruise Lines is Bahamian company.
Maybe they could ask Bahamian tax payers?

Royal Caribean can ask Liberian tax payers.

 

[kage69]

I won't be surprised at all if they try to bail out the tax dodgers. Ideas that shitty are the bread and butter of the corporate welfare whores we call republicans, and Moscow Mitch will think of a way to blame Democrats for it too.

Personally, I'd be glad to see the entire industry shrivel up to nothing. Our oceans can use all the help they can get right now.

Act like you don't have a stake in your country if you want, but don't turn sniveling bitch when the gesture is returned. Need help? Take it up with Liberia. Or get a loan. Something something free market?

 

[ponyo]

Absolutely no way any federal money should go to bail them out, or any cruise line. The number of Americans they hire and the US taxes they pay are minimal, if at all.

If states or regions that benefit from them (like Alaska) want to bail them out, go for it.

The Fed already bailed out Carnival Cruise. They were going to have to pay over 15% to borrow money. Instead, Carnival only paid 11.5%. That's huge saving.

https://nymag.com/intelligencer/2020/04/the-fed-helped-carnival-but-in-a-way-that-makes-sense.html

 

[Thump553]

The Fed already bailed out Carnival Cruise. They were going to have to pay over 15% to borrow money. Instead, Carnival only paid 11.5%. That's huge saving.

https://nymag.com/intelligencer/2020/04/the-fed-helped-carnival-but-in-a-way-that-makes-sense.html

That link is pretty interesting. I'd like to get some of that Ford 9.625% bond debt-compares rather favorably to the .00001% the average consumer gets on their savings (rate slightly understated).

 

[hal2kilo]

Went on one cruise. Did get to see Tulum, otherwise, I don't like being a captive audience. I see now they are doing the all inclusive things, but, just not my cup of tea.

 

[MtnMan]

They sail under the Bahamian flag, wanna bet they want the US to bail them out?

I saw a post about an American employee on a cruise ship tied up in Florida, and wanted to get off because she is American. She said there were 750 employees trapped aboard, and 7 of them were Americans.

 

[MtnMan]

The Fed already bailed out Carnival Cruise. They were going to have to pay over 15% to borrow money. Instead, Carnival only paid 11.5%. That's huge saving.

https://nymag.com/intelligencer/2020/04/the-fed-helped-carnival-but-in-a-way-that-makes-sense.html

Carnival sails under the Panamanian flag to avoid paying US taxes. Fuck them

 

[Wreckem]

Carnival sails under the Panamanian flag to avoid paying US taxes. Fuck them

So you say the same for all American companies they don’t pay taxes? Because it’s not just limited to cruise lines...

 

[MtnMan]

So you say the same for all American companies they don’t pay taxes? Because it’s not just limited to cruise lines...

Yep!

 

[Jhhnn]

That link is pretty interesting. I'd like to get some of that Ford 9.625% bond debt-compares rather favorably to the .00001% the average consumer gets on their savings (rate slightly understated).

Well, even if Ford goes broke you'll still be able to buy a Ferrari-

Ferrari is now worth more than General Motors and Ford

Ferrari's market value surged to $30 billion Monday morning, more than the value of General Motors or Ford Motor.

www.cnbc.com

 

[hal2kilo]

Looks like the banks think NCL is too big to fail.

Bloomberg - Are you a robot?

www.bloomberg.com

 

[pauldun170]

Looks like the banks think NCL is too big to fail.

Bloomberg - Are you a robot?

www.bloomberg.com

Article is behind paywall
Not seeing anything about banks other than that they blew through their credit lines back in March

What I do see is this is that are now in the claws of the loan sharks
"The company said it issued $400 million in fresh stock and about $1.43 billion in two debt offerings. That’s on top of a $400 million investment it received earlier this week from private equity fund L Catterton.

 

[SteveGrabowski]

Went on one cruise. Did get to see Tulum, otherwise, I don't like being a captive audience. I see now they are doing the all inclusive things, but, just not my cup of tea.

So floating Golden Corrals aren't your thing?

 

[soundforbjt]

I have been on about a dozen or so cruises in the past, never by choice. I was with the star/entertainment of the cruise. The only line that impressed me is no longer in business. It was owned by a Chinese Billionaire from Australia that sailed from Singapore.

 

[hal2kilo]

So floating Golden Corrals aren't your thing?

No.