NCL Holdings forecasts Q2 loss

By Lisa James
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Norwegian Cruise Line Holdings Ltd says it expects to make loss in its second quarter after revealing it lost $1.4bn in the first three months of 2021.

Total revenue in the first quarter, to March 31 2021, came in at $3.1m, compared to $1.2bn in 2020.

In a trading update, NCL Holdings said it will report a net loss for Q2 and expects to do the same until it is able to resume regular voyages.

Some itineraries are due to restart soon, with NCL resuming sailings on 25 July, out of Piraeus, Greece; Oceania Cruises restarting on 29 August from Copenhagen and Regent Seven Seas Cruises’ ship Seven Seas Splendor cruising from the UK from 11 September.

But it’s unknown when US cruises will restart.

NCL Holdings President and Chief Executive Officer Frank Del Rio said: “Bookings have been strong for future periods resulting in an elongated booking window as guests book further into the future, despite reduced sales and marketing investments and a travel agency industry that has not been at full strength for months.

“During the first quarter 2021, overall bookings, net of cancellations, were more than double the volumes during the prior quarter.  

“2022 booking and pricing trends are very positive, driven by strong pent-up demand.

“The company is experiencing robust future demand across all brands with the overall cumulative booked position for the first half of 2022 meaningfully ahead of 2019’s record levels with pricing higher when excluding the dilutive impact of future cruise credits (FCCs).”

As of March 31, 2021, the group had $1.3bn of advance ticket sales, with approximately $0.85bn in FCCs.

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