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Coronavirus causes NCL parent to slump to $1.9 billion loss

Cruise
Rob Gill
15 May 2020

Norwegian Cruise Line Holdings has recorded a $1.9 billion loss in its first quarter as the coronavirus forced its three brands to suspend cruises.

Norwegian Spirit will embark on a new repositioning voyage from Australia to Asia

The company, which owns the NCL, Oceania Cruises and Regent Seven Seas Cruises lines, said the raising of $2.4 billion in capital meant it was “well-positioned” to withstand the “unlikely scenario” of more than 18 months of voyage suspensions.

The $1.9 billion net loss for the three months to the end of March compares with a profit of $118 million for the same period in 2019.

Frank Del Rio, chief executive of Norwegian Cruise Line Holdings, said: “In recent weeks, we have taken decisive action to significantly strengthen our financial position in response to the Covid-19 global pandemic.