Jump to content
Cruise Critic Community
fstuff1

Corona virus causing NCL cash flow problems? ie: No more refunds. Everything is now a Future Cruise Credit (FCC)

Recommended Posts

On 3/8/2020 at 11:19 AM, molole said:

 

We don't know for sure yet but there is a possibility that if I cancel after March 10 and before my final payment date, my refund will be in the form of FCC instead of real refund to my credit card.  I don't think that's right at all.   

 

After final payment date, FCC is fair enough.  

 

 

Just to give everyone an update, just in case anyone is wondering:

 

My in-laws who booked the same September cruise decided to cancel and they just called NCL and it was canceled without any hassle, after only 1 minute hold time.  Refund goes back to their credit card, no FCC involved.  So NCL is doing the right thing and not restricting cancellations before final payment dates.  

 

My husband and I will hold on to our cruise a little longer.  We still want to go if possible.  

Share this post


Link to post
Share on other sites
On 3/9/2020 at 8:25 PM, erdoran said:

Here’s a scary thought - how long will they offer FCC?  Remember the 90 day cancellation/refund window?  That lasted 2 days I believe.  If you didn’t grab it when first offered, poof!  

 

They'll probably offer it until they cancel a cruise or the government shuts down the industry. Everyone that accepts the future cruise credit is someone that NCL doesn't have to issue a cash refund to if a cruise is ultimately cancelled or altered due to quarantine, additional COVID testing, port closure, government shutdown. They'd prefer passengers cancel under their own free will. It definitely presents some interesting decisions and discussions for anyone traveling in the upcoming months - do you take the offer and run with it or do you hold out and see what may develop.

Share this post


Link to post
Share on other sites
16 hours ago, molole said:

Just to give everyone an update, just in case anyone is wondering:

 

My in-laws who booked the same September cruise decided to cancel and they just called NCL and it was canceled without any hassle, after only 1 minute hold time.  Refund goes back to their credit card, no FCC involved.  So NCL is doing the right thing and not restricting cancellations before final payment dates.  

 

My husband and I will hold on to our cruise a little longer.  We still want to go if possible.  

Thank you for this update!!

Share this post


Link to post
Share on other sites
On 3/11/2020 at 12:03 PM, Maisy222 said:

Thank you for this update!!

My suggestion is to get a full refund while you still can. If this epidemic is over in a few months then there will be bargains like you have never seen before.

Share this post


Link to post
Share on other sites

Rkelly22..... got some serious anti NCL for a while now.

Thanks for your unbalanced opinions😀

Share this post


Link to post
Share on other sites

Im looking into 3rd party trip insurance purchased directly from Allianz to determine if it would pay out if I book a 3/2021 cruise now with FCC and NCL goes out of business. The big question is if it is covered since they payment was made before the policy went into effect, you are buying the trip in question with FCC.

 

What has me concerned in the policy below is "policy purchased within 14 days of the trips first payment" since my next trip will be made with FCC from my canceled last trip. So the credit card charges were well before the policy was purchased.

 

Their Policy

 

Your tour operator, airline, or cruise line ceases all operations due to its financial condition, with or without filing for bankruptcy. 101-P-TN-704-2017 PC 8 The following conditions apply: a. Your policy was purchased within 14 days of the date of the first trip payment or deposit; b. The cessation of operations occurs more than seven days after your policy’s Coverage Effective Date; c. Your policy was not purchased directly through the tour operator, airline, or cruise line ceasing operations, or an affiliate of that entity; and d. The tour operator, airline, or cruise line was included in our list of covered suppliers on your policy’s Coverage Effective Date.

Share this post


Link to post
Share on other sites
5 minutes ago, teCh0010 said:

What has me concerned in the policy below is "policy purchased within 14 days of the trips first payment" since my next trip will be made with FCC from my canceled last trip.

As long as you purchase the policy within 14 days of booking the 3/2021 trip, you'll be fine.

You are insuring your 3/2021 trip. You couldn't have made any payments on a cruise departing in 3/2021 until you booked that cruise.

Share this post


Link to post
Share on other sites

Now with the travel ban, it makes NCL's cashflow even worse than you expect!

 

my theory: ncl relies on passenger's $15/day cabin tips to subsidize their payment to the crew.

 

the crew's contract states the minimum pay they receive.

yes, all our tips goto the crew but ncl reduces the amount of $ that come out of their pockets by the same amount such that the crew doesnt get anything extra. (bartenders and speciality restaurants are not part of the cabin tips.)

 

now that there are no passengers, ncl has to pay 100% of their pay out of their pockets.

with no income coming in because of the travel ban and more $ going out, they are going to rely heavily on their lines of credit to meet cash flow.

Share this post


Link to post
Share on other sites

Has it occurred to anybody that the cruise lines just might have insurance for any or all of the issues they are facing?  They could also have a self-insurance fund that wouldn't necessarily show as cash.

Just a thought.

Share this post


Link to post
Share on other sites
Posted (edited)
1 hour ago, julig22 said:

Has it occurred to anybody that the cruise lines just might have insurance for any or all of the issues they are facing?  They could also have a self-insurance fund that wouldn't necessarily show as cash.

Just a thought.

and if this is the case, why hasnt del rio come out w/a statement as such to calm fears and stop a dropping ncl stock price?

 

or why hasnt anyone found analysts statements to such?

Edited by fstuff1

Share this post


Link to post
Share on other sites

Do you folks think my May 3 Med Cruise will be cancelled soon? Either way I’m not going but hoping for the option of a refund vs. FCC


Sent from my iPhone using Forums

Share this post


Link to post
Share on other sites
21 minutes ago, TheSpaver said:

Do you folks think my May 3 Med Cruise will be cancelled soon? Either way I’m not going but hoping for the option of a refund vs. FCC


Sent from my iPhone using Forums

 

you're still under the 48hr policy.

wait till april 30 to cancel and hope they cancel your cruise before then for 125% fcc.

Share this post


Link to post
Share on other sites
On 3/17/2020 at 3:04 PM, Cee_Jay said:

I accept $64 a month is very low but it does come with all food and accommodation and uniform

They have to pay for their uniform. Just like a flight attendant. 

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Forum Jump
    • Categories
      • Forum Assistance
      • New Cruisers
      • Cruise Lines “A – O”
      • Cruise Lines “P – Z”
      • River Cruising
      • ROLL CALLS
      • Digital Photography & Cruise Technology
      • Member Cruise Reviews
      • Special Interest Cruising
      • Cruise Discussion Topics
      • UK Cruising
      • Australia & New Zealand Cruisers
      • North American Homeports
      • Ports of Call
      • Cruise Conversations

Announcements

×
×
  • Create New...