Solvency of Cruise Lines

[CBWIR]

How did this thread denigrate into a creed on airline seats. At least there was no comment on the expert counsel about 0% that NCLH will not be bankrupt. As I said on another thread. tranquilizers and a gin martini will help

[rallydave]

Actually have found first in us quite a bargain lately at least from HOUSTON. Seems the airlines have realized reduced first class gets them some money vs giving the seats away as free upgrades. With free baggage and other perks sometimes dirt is cheaper than coach in total. May not be the same from a regional airport but from a large city airport have found cases where we saved money paying for first. 

[Young and Restless]

Thought I'd put my 2 cents in. 

NCL NextCruiseCertificates , I used some on a Cuba cruise last year that was canceled , so I used them on Transatlantic for April 2020 and now that is canceled , their expiration date is Oct 2020 . I have the 2021 TA booked so I'll use them on it but if it gets canceled , hopefully they will not be worthless.

I believe that the cruise industry as a whole will make it through this but a few companies will be taken over by others.

The number of cruises will decrease and will slowly increase with demand . A lot of cruise ships will be put into moth balls, until needed . 

 Back to simple economics , Supply and Demand . Until passengers are willing to go , the cruise industry will be hurting. 

Just a quick question. Are you willing to go on cruise ? When do you think you will be? How will you decide ? 

 

[greykitty]

Ok, believe me that I tend to rip off my mask as soon as I healthily can, like as soon as I get in the car by myself.  But, having said that, if HCW and other first responders wear masks all day long while working (not even counting folks in the grocery store), I will just have to try and convince myself that wearing a mask on a long flight will just have to be endured.

[Dolebludger]

CBWIR, 

 

This trdead has degenerated into a lot or relaxed subjects. But for some of us, if air that we find suitable for a suitable price is not available to get to and from the cruise, we just will not go, and the cruise line surfers, I suppose. Satisfactory air to get to a cruise is part of the cruise. In the past two years, we have canceled two attractive cruises, because the necessary air was an expensive hassle.

[Dolebludger]

Y &R,

 

‘You are posting on the Regent cruise line forum. Our only connection with NCL is that it’s holding company NCLH also owns Regent. But I doubt that anybody here knows what is going on with NCL. Perhaps your post would be better answered on the NCL forums on this board.

[CBWIR]

1 hour ago, Dolebludger said:

CBWIR, 

 

This trdead has degenerated into a lot or relaxed subjects. But for some of us, if air that we find suitable for a suitable price is not available to get to and from the cruise, we just will not go, and the cruise line surfers, I suppose. Satisfactory air to get to a cruise is part of the cruise. In the past two years, we have canceled two attractive cruises, because the necessary air was an expensive hassle.

Relaxed subjects???? DAH.

[Travelcat2]

2 hours ago, Young and Restless said:

Thought I'd put my 2 cents in. 

NCL NextCruiseCertificates , I used some on a Cuba cruise last year that was canceled , so I used them on Transatlantic for April 2020 and now that is canceled , their expiration date is Oct 2020 . I have the 2021 TA booked so I'll use them on it but if it gets canceled , hopefully they will not be worthless.

I believe that the cruise industry as a whole will make it through this but a few companies will be taken over by others.

The number of cruises will decrease and will slowly increase with demand . A lot of cruise ships will be put into moth balls, until needed . 

 Back to simple economics , Supply and Demand . Until passengers are willing to go , the cruise industry will be hurting. 

Just a quick question. Are you willing to go on cruise ? When do you think you will be? How will you decide ? 

 

 

Appreciate hearing from an NFL cruiser..... Welcome!

 

It makes perfect sense to take some NHL ships and put them in "mothballs" until they are needed. Regent does not have enough ships to do that (although there is one ship that should be there permanently as it costs to much to maintain).

 

That are quite a number of us (mostly on other Regent threads) that are chomping at the bit to get back on a ship.  We are willing to social distance, wear masks and follow any procedures that will help keep us safe  There is quite a bit of space on Regent ships compared to NCL so few revisions would be required to maintain safety.I

 

Again, thanks for visiting the Regent board.  Stay safe!

[cruiseluv]

13 hours ago, Wendy The Wanderer said:

 

 

Cruiseluv, let's not start attacking people here because they haven't done any cruising for a while, okay?  Richard's been around the cruise scene for a long time.  And we haven't cruised Regent since 2017, nor cruised at all since 2018.

Yes, almost as long as Ive been. Does that confer some sort of immunity?  Are you the new referee here?

[cruiseluv]

3 hours ago, Young and Restless said:

Thought I'd put my 2 cents in. 

NCL NextCruiseCertificates , I used some on a Cuba cruise last year that was canceled , so I used them on Transatlantic for April 2020 and now that is canceled , their expiration date is Oct 2020 . I have the 2021 TA booked so I'll use them on it but if it gets canceled , hopefully they will not be worthless.

I believe that the cruise industry as a whole will make it through this but a few companies will be taken over by others.

The number of cruises will decrease and will slowly increase with demand . A lot of cruise ships will be put into moth balls, until needed . 

 Back to simple economics , Supply and Demand . Until passengers are willing to go , the cruise industry will be hurting. 

Just a quick question. Are you willing to go on cruise ? When do you think you will be? How will you decide ? 

 

Not this year, and certainly not at current prices. They'll have to come down for demand to pick up

[cruiseluv]

1 hour ago, Dolebludger said:

CBWIR, 

 

This trdead has degenerated into a lot or relaxed subjects. But for some of us, if air that we find suitable for a suitable price is not available to get to and from the cruise, we just will not go, and the cruise line surfers, I suppose. Satisfactory air to get to a cruise is part of the cruise. In the past two years, we have canceled two attractive cruises, because the necessary air was an expensive hassle.

Well, then I can safely say you will never cruise again, Air travel is not going to become easier over this. Although maybe first class ticket prices will come down

[cruiseluv]

27 minutes ago, Travelcat2 said:

 

Appreciate hearing from an NFL cruiser..... Welcome!

 

It makes perfect sense to take some NHL ships and put them in "mothballs" until they are needed. Regent does not have enough ships to do that (although there is one ship that should be there permanently as it costs to much to maintain).

 

That are quite a number of us (mostly on other Regent threads) that are chomping at the bit to get back on a ship.  We are willing to social distance, wear masks and follow any procedures that will help keep us safe  There is quite a bit of space on Regent ships compared to NCL so few revisions would be required to maintain safety.I

 

Again, thanks for visiting the Regent board.  Stay safe!

Jackie, you will need to send video of all of you parading with your masks! Sounds swell!

 

Editing to add: There might be more space/pax on Regent than in bigger/mass market ships, but just the thought of accommodating "social distancing" on Compass Rose ( or any other of the restaurants) is ludicrous

Edited April 30, 2020 by cruiseluv

[Travelcat2]

1 hour ago, cruiseluv said:

Jackie, you will need to send video of all of you parading with your masks! Sounds swell!

 

Editing to add: There might be more space/pax on Regent than in bigger/mass market ships, but just the thought of accommodating "social distancing" on Compass Rose ( or any other of the restaurants) is ludicrous

 

Maria, it is possible that Regent will not be able to sail with full ships to enable social distancing but if there is a will there is a way.  There would be challenges in all dining venues as well as the theater.  

 

In terms of masks, as much as I hate them, I’m surprised that I’ve almost become used to them (and gloves).  It has become a routine when I go out (but I do rip off the mask as soon as I get back into my car).  I also carry a small hand sanitizer (the ones that Regent gives out periodically) that I use to spray the handle of my car door if I am using the gloves to open the car.

 

I’d better shut up because I find this thread to be very serious and very negative.  I only check here when I see that someone other than the regular posters on this thread have made a post.  So, I’ll leave here and the regular posters can continue with their doom and gloom predictions which they have every right to do...... I just choose not to read them.

[GrJ Berkshire]

3 hours ago, cruiseluv said:

Well, then I can safely say you will never cruise again, Air travel is not going to become easier over this. Although maybe first class ticket prices will come down

The feel from Europe is that because of few business travellers that the upper cabins on aircraft will be unfilled as trade fairs and business travel is conducted online, so making plane upgrades which raised 30% of airline income become a thing of the past and planes are one class with fares rising to cover this. Interesting?

[fizzy]

6 hours ago, Travelcat2 said:

 

Appreciate hearing from an NFL cruiser..... Welcome!

 

It makes perfect sense to take some NHL ships and put them in "mothballs" until they are needed. Regent does not have enough ships to do that (although there is one ship that should be there permanently as it costs to much to maintain).

 

 

Is this a slip of the keyboard or a secret yearning for better coverage of those bruiser man sports that many of us would like to follow on board?

[Wendy The Wanderer]

17 hours ago, cruiseluv said:

Yes, almost as long as Ive been. Does that confer some sort of immunity?  Are you the new referee here?

 

No sorry, I thought you were.  No offence, and none taken.  

[Wendy The Wanderer]

12 hours ago, fizzy said:

Is this a slip of the keyboard or a secret yearning for better coverage of those bruiser man sports that many of us would like to follow on board?

 

I'm sure it's autocorrect at work.

[BarbarianPaul]

On 4/29/2020 at 1:41 PM, rallydave said:

Sure doesn't look good for refunds or FCC's to be coming soon.  After all this means 40% fewer hours being worked as don't expect OT being approved and with the people who are still working they were cut 20% of their working hours plus this new 20% cut.  Also means no sailings until the soonest being August or perhaps later as can't get everthing up to speed immediately on August 1 even if the furloughed people back to work nor the others working shortened weeks and there will be lots of work in the offices to get the itinerairies set up, provisioning to the ships, air booked, excursions on contract, etc.

 

Unfortunately looks like no cruise ships sailing before the fall??

I had somewhat foolishly almost completely pre-paid a Dubai - Capetown cruise for my wife and I on Norwegian for next Feb 2021, and just cancelled last week, well before final payment date. Nevertheless, I wasn’t expecting the refund for a few months at best, never at worst. To my surprise, it showed up in my account today. My takeaway was that in spite of all these challenges, Regent’s parent company is still on the ball and doing what’s  right.

[Wendy The Wanderer]

13 hours ago, BarbarianPaul said:

I had somewhat foolishly almost completely pre-paid a Dubai - Capetown cruise for my wife and I on Norwegian for next Feb 2021, and just cancelled last week, well before final payment date. Nevertheless, I wasn’t expecting the refund for a few months at best, never at worst. To my surprise, it showed up in my account today. My takeaway was that in spite of all these challenges, Regent’s parent company is still on the ball and doing what’s  right.

 

Or perhaps it was just chance?  They do say, "up to 90 days", after all.  You sparked me to check my Amex account--no joy for me.  My cancelled invoice is dated April 23rd.  Similarly my cancelled cruise was far in the future, January 2021.

[BarbarianPaul]

After today’s announcement regarding the possibility of a Norwegian bankruptcy, I certainly wouldn’t give either a Regent or Norwegian any additional cash.

[Pcardad]

3 minutes ago, BarbarianPaul said:

After today’s announcement regarding the possibility of a Norwegian bankruptcy, I certainly wouldn’t give either a Regent or Norwegian any additional cash.

 

The announcement only came BECAUSE they have people ready to give them cash...it's required by law. Or is the SEC rule a regulation? IDK.

Edited May 5, 2020 by Pcardad

[greykitty]

What Is an 8-K?

An 8-K is a report of unscheduled material events or corporate changes at a company that could be of importance to the shareholders or the Securities and Exchange Commission (SEC). Also known as a Form 8-K, the report notifies the public of events reported including acquisition, bankruptcy, resignation of directors, or a change in the fiscal year.

[howiefrommd]

I thought this was interesting from today's cruise industry news........

 

In addition, another challenge is provisions in Norwegian's credit card processing and other commercial agreements.

"We have agreements with a number of credit card companies to process the sale of tickets and other services. Under these agreements, the credit card companies could, under certain circumstances and upon written notice, require us to maintain a reserve, which reserve could be funded by the credit card companies withholding or offsetting our credit card receivables, or our posting of cash or other collateral," Norwegian said, in a Tuesday SEC filing.

 

"As a result of the impacts of COVID-19, we have seen an increase in demand from consumers for refunds on their tickets, and we anticipate this will continue to be the case for the near future. Requests for refunds may reduce our liquidity and risk triggering liquidity covenants in these processing agreements and, in doing so, could force us to post cash or other collateral (including the potential to post certain of our vessels as collateral) as a reserve with the credit card processing companies in accordance with the terms of our agreements with them. Because of COVID-19, we have been in conversation with our credit card processors about posting collateral, and if we were required to post collateral or otherwise maintain a reserve, our financial position and liquidity could be materially impacted."

 

[BarbarianPaul]

15 minutes ago, Pcardad said:

 

The announcement only came BECAUSE they have people ready to give them cash...it's required by law. Or is the SEC rule a regulation? IDK.

I’ll assume this is true.

 

But I still wouldn’t give them any money. 

[Dolebludger]

It is only smart not to give any company money when that company has announced it "might" go bankrupt!