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Ptroxx

What If NCL files for bankruptcy? And we have cruises book ?

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Rather have my money now, will do last minute booking only when cruising is stabilized.  Hard to put a date on it.

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5 minutes ago, mugtech said:

Rather have my money now, will do last minute booking only when cruising is stabilized.  Hard to put a date on it.

Yeah I think your talking me into refund even more.  Thanks. ( voice of reason )

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1 minute ago, Ptroxx said:

Yeah I think your talking me into refund even more.  Thanks. ( voice of reason )

Yw

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I've only got $150 at risk.  My concern would be more cutbacks and service cuts if or when cruises resume.  Look how much went poof during the last few years when things were good.

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Remember in bankruptcy credits blow in the wind, cash in your pocket is yours.

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Cruise Stocks Sinking

The cruise industry, which is one of the fastest-growing categories in the leisure travel market, has taken a massive hit owing to stringent restrictions. Markedly, the $45 billion industry made the decision to suspend operations from U.S. ports of call for 30 days with the Trump administration imposing significant travel embargoes on passengers from 26 European countries.

Major cruise companies that have been affected by these prohibitory orders include Carnival Corporation (CCL - Free Report) and Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) . With more and more passengers being tested positive for COVID-19, these Zacks Rank #5 (Strong Sell) stocks have decided to halt operations of multiple cruise lines, thereby extending the suspension of all voyages till May. Consequently, shares of Carnival and Norwegian Cruise Line have plunged 33.2% and 12.9% in yesterday’s trading session to close at $8.80 and $9.55, respectively. Needless to say, bookings for the broader business are also going to be negatively impacted, thanks to severe travel restrictions.

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Bankruptcy of NCL is a real fear.  Anyone consider disputing their credit card charge to try and get some money back?  On our last cruise, I purchased four future cruise certificates paid $500 for $1000 value and have all four applied toward two cruises.  Very possible those cruise certificates will be worth nothing.  If you all can get a refund of cash, better take it.

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1 hour ago, SeaWatcher65 said:

Bankruptcy of NCL is a real fear.  Anyone consider disputing their credit card charge to try and get some money back?  On our last cruise, I purchased four future cruise certificates paid $500 for $1000 value and have all four applied toward two cruises.  Very possible those cruise certificates will be worth nothing.  If you all can get a refund of cash, better take it.

I would say all four are worthless. The cruise industry may not recover I now can see Carnival and NCLH merging. Still the same tonnage and some good prices  to start  but they will build an almost monopolistic business so in the long run prices will be rise. however FDR may well be out of a job - just a thought

 

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2 hours ago, SeaWatcher65 said:

Bankruptcy of NCL is a real fear.  Anyone consider disputing their credit card charge to try and get some money back?  On our last cruise, I purchased four future cruise certificates paid $500 for $1000 value and have all four applied toward two cruises.  Very possible those cruise certificates will be worth nothing.  If you all can get a refund of cash, better take it.

 

Do you really think that it may be possible to get any money back by disputing the credit card charge? Isn't that a correct charge, at least until NCL goes bankrupt?

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58 minutes ago, bmwman said:

 however FDR may well be out of a job - just a thought

 

Wealthy robber barons always land on their feet.

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1 hour ago, Petoonya said:

Wealthy robber barons always land on their feet.

True  but he has lost a paper fortune on his share options!!

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1 hour ago, sverigecruiser said:

 

Do you really think that it may be possible to get any money back by disputing the credit card charge? Isn't that a correct charge, at least until NCL goes bankrupt?

You can dispute charges related to a cancelled cruise if your refund is unnecessarily delayed. I don't think you can dispute the cruise next charge. They are only refundable for 30 days from purchase.

 

You would have to cancel your cruise with penalty, which would void the cruise next certificates. Then, you could file a refund claim for your fare through insurance (CFAR).

 

We did this with a cruise for May. We had CFAR insurance. We cancelled our cruise before NCL extended their cancellation period. We forfeited 100% of our cruise fare which included two cruise next certificates. We will now attempt to get reimbursed for the cruise fare from insurance. Who knows what will happen.

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Posted (edited)

Of course since this is not and American company, I'm not even sure that there is a version of Chapter 11 or Chapter 7.

 

But, it will declare bankruptcy.  No other real choice now.

Edited by The Wanderer_112358

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Posted (edited)

Nclh has the best paid ceo of all  the cruise Lines. So he must be the best and have plans for such a situation and nclh will survived on long. We will see

😢

Edited by Steff79

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2 minutes ago, Steff79 said:

Nclh has the best paid ceo of all  the cruise Lines. So he must be the best and have plans for such a situation and nclh will survived on long. We will see🤔

 

Ha,ha.  Huh, uh.  Right.

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I think Chapter 11... followed by Chapter 7.

 

I also am doubtful that we will see cruising in 2020.

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3 hours ago, The Wanderer_112358 said:

It is really just a matter of time now.

 

My date guess is that it will be Chapter 7 in about the second week in May. 

 

Your guess?

 

Seldom do companies start in Chapter 7 (liquidation).  They try to reorganize their debt (chapter 11) first.

 

2 hours ago, The Wanderer_112358 said:

Of course since this is not and American company, I'm not even sure that there is a version of Chapter 11 or Chapter 7.

I've been wondering that myself.  Don't have the energy to figure it out, doesn't matter all that much to me.  The Breakaway and Breakaway+ class ships will still be carrying cruise passengers for someone once the dust settles.  Those are ships I like, I'll just wait to see where they end up.

 

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I think the only cruise company that’s financially safe is Virgin Voyages, they have no commitment have offered 200% to rebook, and full refunds plus % off when you do rebook, they are working flat out in Italy getting the second ship ready.

its all about the leases on the ships, 14 in a fleet and no where to go? Deadly 💀 

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US law allows foreign corporations to file for bankruptcy protection under US law, if the corporation has significant business in the US.

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Neither....they will weather this storm.

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It will be Chapter 11 first, when that wipes out all FCC's, and bookings completely fail, then Chapter 7.

 

Someone will be sailing those ships, perhaps not in the way or at the price to which we have been accustomed too, but cruising will continue.  NCL will be the first to fall, perhaps followed closely by RCL, CCL may very well be the only one to somewhat survive the coming massacre.

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3 minutes ago, mrclean1 said:

It will be Chapter 11 first, when that wipes out all FCC's, and bookings completely fail, then Chapter 7.

 

Someone will be sailing those ships, perhaps not in the way or at the price to which we have been accustomed too, but cruising will continue.  NCL will be the first to fall, perhaps followed closely by RCL, CCL may very well be the only one to somewhat survive the coming massacre.

Disney would go WAYYYYY before NCL.  NCL weathers this storm.  Actually, all the Cruise lines survive in some way shape or form.  Some may merge, that would be my guess.

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What happens to those of us that have cruises in the fall with money tied up with NCL?  Should we cancel and get our money back?

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