Keeping all our money in exchange for a Future Cruise Credit is ok but what if NCL goes bankrupt and goes out of business?

[BearClaw28]

They won’t even return prepaid gratuities, which is supposed to go to the crew but you know it won’t now. It’s just an interest free loan to NCL from us. 

[CarolinaMamma]

If you cancel your prepaid gratuities today, you can still get a refund on those. 
 

starting tomorrow, that “refund” will be part of your FCC.

[gigito2]

Not sure what you mean, OP...

Did you try to get pre-paid grats returned?

Not arguing - just saw a thread where a customer was successful in reversing all pre-paid items such as:

Pre-Paid DSC

included Beverage Pkg

Did you have a different experience?

thanks

Referring to CarolinaMamma's post above.

Edited March 9, 2020 by gigito2

[don't-use-real-name]

what if NCL goes bankrupt and goes out of business?

 

Going out of business - very unlikely - - -

I doubt this - maybe an opportunity for someone (corporation) to snag a bargain or other cruise ship line

to merge consolidate (BIG FISH gets B-I-G-G-E-R).

Cruise ship vacationing is pretty much a staple of leisure travel and is going to be around for a long time.

 

Bankruptcy - extremely unlikely --- are all the forms of travel cruise air rail going to go belly up at the same time ?

 

Smooth sailing don't count on it - BUT FORGET all this speculation - we are not there yet - - -

 

Hear that "WE ARE NOT THERE YET" ! 

[erdoran]

If the worst were to happen,  wouldn’t a credit card company give a refund?  I think I’ve read that somewhere (doggoned if I know where)

[FredT]

While I cant see NCL go "out of business", I COULD see them declare bankruptcy just due to cash flow issues.   (And keep operating without a hiccup. )  Then, yes, all your FCC's are worth (used) toilet paper. 

[FredT]

7 minutes ago, erdoran said:

If the worst were to happen,  wouldn’t a credit card company give a refund?  I think I’ve read that somewhere (doggoned if I know where)

Now THAT is an interesting question.  If a customer could show to the CC company anything that "proves" that they purchased the fare under policy "A" (You can cancel for a refund until this or that date) and NCL is now saying, NO, )  You probably could get your c/c reversed.......      Anyone gone down that route yet?

Edited March 10, 2020 by FredT

[erdoran]

1 minute ago, FredT said:

Now THAT is an interesting question.  If a customer could show to the CC company anything that "proves" that they purchased the fare under policy "A" (You can cancel for a refund until this or that date) and NCLis now saying, NO,   You probably could get your c/c reversed.......      Anyone gone down that route yet?

Those aren’t the grounds for the CC dispute - grounds are “non-delivery of purchased goods or services”.

[BoundForSea]

If they go Chapter 7, Ive got first dibs on Bliss, just need a place to park her. Would make a nice weekend boat 😂😂

[Isabella Benjamin]

They would do a reorganization bankruptcy and have to repay their debts. 

[P_Mcruisers]

Chapter 11? Nah Kalua  Lumpur would never go for that. 

Edited March 10, 2020 by P_Mcruisers

[Isabella Benjamin]

Welp, just load up the debt and sell the whole company so it's someone else's problem.

[robsmom]

12 hours ago, FredT said:

Now THAT is an interesting question.  If a customer could show to the CC company anything that "proves" that they purchased the fare under policy "A" (You can cancel for a refund until this or that date) and NCL is now saying, NO, )  You probably could get your c/c reversed.......      Anyone gone down that route yet?

Are there any real scenarios like this?  The rules for cancellation have been expanded.  I am not aware of situations in which this applies. Interesting question if there are some. 

Edited March 10, 2020 by robsmom

[CruisingSince1982]

11 hours ago, Isabella Benjamin said:

They would do a reorganization bankruptcy and have to repay their debts. 

Not at all true. They only need to repay a portion, and only the largest and/or priority creditors.

[Lupush]

NCL will not be going out of business.  Is there a disruption to their business?  Yes.  Will it take time to recover?  Yes.  This is no different than what happened to Airlines and Hotels after 9/11, and the Hospitality Industry as a whole during the 08 recession.  I have been in the Hospitality Industry for over 25 years, and we prepare for these types of shocks to our business every 8-10 years or so.  Quite frankly, this one is overdue.

[ray98]

LOL...NCL is not going out of business.

[turtlegirl2]

And they will probably get a government bailout to keep the, “afloat”. I do hope we can use our FCC if that is the case. My husband is still mad to this day that he didn’t buy Bank of America stock when it plunged in the 08-09 recession... 😩

[Isabella Benjamin]

7 minutes ago, turtlegirl2 said:

And they will probably get a government bailout to keep the, “afloat”. I do hope we can use our FCC if that is the case. My husband is still mad to this day that he didn’t buy Bank of America stock when it plunged in the 08-09 recession... 😩

I don't think we should bail out foreign companies who have very few US employees.  

[turtlegirl2]

4 minutes ago, Isabella Benjamin said:

I don't think we should bail out foreign companies who have very few US employees.  

I believe they are US companies but they use a legal loophole to register their ships in other countries to avoid following US employment laws for ships’ crew. Their US based staff all have to be paid following US laws. So, a bailout might be possible. I do hope the cruise lines take care of their ship staff during this time and not just their pocketbooks. 

[Isabella Benjamin]

5 minutes ago, turtlegirl2 said:

I believe they are US companies but they use a legal loophole to register their ships in other countries to avoid following US employment laws for ships’ crew. Their US based staff all have to be paid following US laws. So, a bailout might be possible. I do hope the cruise lines take care of their ship staff during this time and not just their pocketbooks. 

They are domiciled in Bermuda and based in the United States. They run all of their profits through Bermuda.  

[graphicguy]

Royal's stock took a big dive yesterday.  I think NCL is trading near their 52 week low, also.

 

I don't think they're in any danger of Chapter 7.  They came out of the financial recession OK, and that was a much tougher, longer lasting issue.

 

Now, if you're asking whether you can get your money for the fees you paid and the gratuities, that's an entirely different question.  I don't think they'd want to punish the crew by withholding their gratuities, which will take a dive given the cancellations everyone seems to be hell bent on making.

 

 

[luv2kroooz]

I agree. I am not in favor of using Taxpayer dollars for a bailout of any cruise line at this point. I know the impacts reach far, like shoreside employment, etc., but they conveniently flag their ships elsewhere to legally avoid taxes, safety matters, and fair labor laws. I'd prefer to see the government waste my tax dollars in some other manner, thank you. NCL and the rest of them can go get a bailout from Panama, the Bahamas, or Malta. Mr. Del Rio could also contribute part or all of his $22,000,000 compensation package.

[ziggyuk]

4 minutes ago, graphicguy said:

I think NCL is trading near their 52 week low, also.

 

They are currently at $18.19 which is a 17 year low

[NittanyCruise]

11 minutes ago, graphicguy said:

Royal's stock took a big dive yesterday.  I think NCL is trading near their 52 week low, also.

 

I don't think they're in any danger of Chapter 7.  They came out of the financial recession OK, and that was a much tougher, longer lasting issue.

 

Now, if you're asking whether you can get your money for the fees you paid and the gratuities, that's an entirely different question.  I don't think they'd want to punish the crew by withholding their gratuities, which will take a dive given the cancellations everyone seems to be hell bent on making.

 

 

52 week low? How about an all-time low and continuing to nose dive. 

[graphicguy]

They’re all headed in the same direction....

 

https://www.bloomberg.com/news/articles/2020-03-10/royal-caribbean-may-be-cut-to-junk-by-s-p-on-virus-travel-impact