Norwegian Cruise Line CEO Frank Del Rio Interviews

[WESTEAST]

 

[cruisebug722]

thanks for posting this.

[Senior Citizen]

Yes, thank you very much for posting!!

[Jancruz]

On 5/8/2020 at 3:00 PM, Senior Citizen said:

Yes, thank you very much for posting!!

plus 1

Jancruz1

[RJB]

On 5/8/2020 at 12:19 PM, WESTEAST said:

 

Good post, but with all this liquidity  how much do they owe?  That will cut into this money by a lot I think.  Am I seeing something wrong here that I don't understand?

[njhorseman]

1 hour ago, RJB said:

Good post, but with all this liquidity  how much do they owe?  That will cut into this money by a lot I think.  Am I seeing something wrong here that I don't understand?

 

As of December 31, 2019 NCLH had about $3.584 billion in current liabilities. Current liabilities are defined as those payable in the next year. The $3.584 billion includes the current portion of long term debt  of $746 million, but recently NCLH negotiated a debt holiday for about a year covering a large percentage of that $746 million, so at present much of the original current debt for 2020 has been converted to long term debt as it is no longer payable in 2020. The largest single component of current liabilities is $1.955 billion in advance ticket sales. That's the amount that would have to be refunded if all bookings were cancelled and everyone requested a refund rather than accepting an FCC, but I believe that FDR stated that about half of booked passengers are accepting FCC  so all that money is not walking out the door.

 

The bottom line is that all the steps NCLH has taken to shore up its liquidity should mean it can survive 2020 even if there are no ships sailing for the rest of the year.

Edited May 10, 2020 by njhorseman

[RJB]

20 hours ago, njhorseman said:

 

As of December 31, 2019 NCLH had about $3.584 billion in current liabilities. Current liabilities are defined as those payable in the next year. The $3.584 billion includes the current portion of long term debt  of $746 million, but recently NCLH negotiated a debt holiday for about a year covering a large percentage of that $746 million, so at present much of the original current debt for 2020 has been converted to long term debt as it is no longer payable in 2020. The largest single component of current liabilities is $1.955 billion in advance ticket sales. That's the amount that would have to be refunded if all bookings were cancelled and everyone requested a refund rather than accepting an FCC, but I believe that FDR stated that about half of booked passengers are accepting FCC  so all that money is not walking out the door.

 

The bottom line is that all the steps NCLH has taken to shore up its liquidity should mean it can survive 2020 even if there are no ships sailing for the rest of the year.

Thanks for this very good post.  We hope to sail again in 2021 and need O to be around for us and the rest of her fans.

[jjwoben1]

When will the cruises for fall and the ships actually cruising be announced.  We make final payment in June.  Will November cruises be cancelled and announced by then?

 

[LHT28]

6 minutes ago, jjwoben1 said:

When will the cruises for fall and the ships actually cruising be announced.  We make final payment in June.  Will November cruises be cancelled and announced by then?

 

not likely

 It seems they are just cancelling  a month or so before the sailings

So you would  need to weigh your options

Cancel before the penalties kick in or pay the FP & hope they sail

if they do not sail then you will have to wait up to 90 days to be refunded

 

[Shawnino]

Anybody can do a softball interview.

[StanandJim]

4 hours ago, Shawnino said:

Anybody can do a softball interview.

True enough, but most of us are relegated by dint of our lack of success and/or achievement, to posting mean spirited comments on Internet Message Boards.

Sad

[tedcatuk]

Well I'm sure they will be fine judging by the difficulty getting a refund from Oceania aka NCL at the moment - forget your passenger contract -it only  works  NCLS way really I very much doubt I will use any NCL brand again 

[Paulchili]

17 minutes ago, tedcatuk said:

Well I'm sure they will be fine judging by the difficulty getting a refund from Oceania aka NCL at the moment - forget your passenger contract -it only  works  NCLS way really I very much doubt I will use any NCL brand again 

If that is your only criteria then only Viking is doing better with refunds - otherwise they are all the same.

[tedcatuk]

I see that Cunard and p and o are looking after their bookings much better - even paying back customers who booked through agents direct  and I will be doing much more research before I part with my money again as to how these cruise lines look after customers when there is a problem NCL hardly gets good feedback does it? 

[bbtondo]

6 minutes ago, Paulchili said:

If that is your only criteria then only Viking is doing better with refunds - otherwise they are all the same.

I have a Viking Ocean Cruise booked for January 2021.  Final payment due end of June.  I am not paying my final payment.  Even though Viking has a good reputation, I'm not risking any more money to cruising right now.  If there is a miracle cure/vaccine by end of June, maybe, but unlikely. 

[tedcatuk]

Well I don't know the laws in Florida but if you don't pay here in the UK you lose your deposit and you pay your agents fees - people here are being advised to make final payment and let the cruise line cancel but at the end of the day its a chess game.

Problem with that though, is its the old story, then the travel company's goes crying to the regulatory bodies to put refund credit notes that have no standing in law in place.

Anything to delay your repayment - the whole industry need a right kick in the pants otherwise a lot of them will as we say go under!! 

[Paulchili]

15 minutes ago, bbtondo said:

I have a Viking Ocean Cruise booked for January 2021.  Final payment due end of June.  I am not paying my final payment.  Even though Viking has a good reputation, I'm not risking any more money to cruising right now.  If there is a miracle cure/vaccine by end of June, maybe, but unlikely. 

Don't blame you for not sailing in Jan. I was just saying that I got 2 deposits back from Viking river in THREE days!

[Redtravel]

Paul,  lucky you getting your deposits back so quickly. Viking canceled my June cruise in March and just refunded my full fare today.  While I am relieved getting my money back, I expected a quicker payout from Viking. 

[LHT28]

1 hour ago, tedcatuk said:

Well I'm sure they will be fine judging by the difficulty getting a refund from Oceania aka NCL at the moment - forget your passenger contract -it only  works  NCLS way really I very much doubt I will use any NCL brand again 

Will you cruise  again?

What line will you use if so?

[Paulchili]

11 minutes ago, Redtravel said:

Paul,  lucky you getting your deposits back so quickly. Viking canceled my June cruise in March and just refunded my full fare today.  While I am relieved getting my money back, I expected a quicker payout from Viking. 

Maybe because mine was only a deposit and yours a full fare? Less money and maybe simpler process (no commission, taxes, etc)?

[LHT28]

1 hour ago, Paulchili said:

Don't blame you for not sailing in Jan. I was just saying that I got 2 deposits back from Viking river in THREE days!

I think you got lucky   others are now complaining   they are not getting the refunds quickly  now

[clo]

14 minutes ago, Paulchili said:

Maybe because mine was only a deposit and yours a full fare? Less money and maybe simpler process (no commission, taxes, etc)?

We canceled one - deposit only - in late March and had the money in four days. Canceled one also just a deposit in late April and the auto-email said four to six weeks. Nothing yet.

[tedcatuk]

17 minutes ago, LHT28 said:

Will you cruise  again?

What line will you use if so?

It looks to me that Cunard and P and O are treating customers here very fairly at the moment and I have cruises book with Cunard as we speak.

After this I will research hard before a part with my cash.

[LHT28]

13 minutes ago, tedcatuk said:

It looks to me that Cunard and P and O are treating customers here very fairly at the moment and I have cruises book with Cunard as we speak.

After this I will research hard before a part with my cash.

You must be reading different  reviews  than I am seeing

EG:

 

 

[tedcatuk]

19 minutes ago, LHT28 said:

You must be reading different  reviews  than I am seeing

EG:

 

 

As I said I will be researching hard before I make any more bookings or parting with any more cash.