CCL FCD's and FCC's

[NavArch64]

From CCL 8-K 9/15/20

The company is providing flexibility to guests with bookings on sailings cancelled by allowing guests to receive enhanced FCCs or elect to receive refunds in cash. Enhanced FCCs increase the value of the guest's original booking or provide incremental onboard credits. As of August 31, 2020, approximately 45 percent of guests affected by the company's schedule changes have received enhanced FCCs and approximately 55 percent have requested refunds.

 

Total customer deposits balance at August 31, 2020, was $2.4 billion, the majority of which are FCCs, compared to total customer deposits balance of $2.9 billion at May 31, 2020. The decline in customer deposits is consistent with previous expectations. As of August 31, 2020, the current portion of customer deposits was $2.1 billion with $0.1 billion relating to fourth quarter sailings. Approximately 55 percent of bookings taken during the quarter ending August 31, 2020 were new bookings, as opposed to FCC re-bookings, despite minimal advertising or marketing.

 

[Mary229]

The only marketing they needed was "we canceled your cruise, how do you want that served?" 😃

I think the lack of marketing is because of the lack of visibility.  Why waste money on brochures for cruises that may never sail?

[LocoLoco1]

On 9/15/2020 at 10:45 AM, Mary229 said:

The only marketing they needed was "we canceled your cruise, how do you want that served?" 😃

I think the lack of marketing is because of the lack of visibility.  Why waste money on brochures for cruises that may never sail?

You are probably correct. Our FCC ‘use it or lose it’ day is Dec 30th.