Market Updates
Norwegian Cruise Line Guides Slower Recovery In Bookings
Scott Peters
09 Aug, 2022
New York City
Norwegian Cruise Line Holdings fell 11.4% to $11.99 after the company reported second quarter revenues soared to $1.2 billion from $4.4 million a year ago when the Covid-19 restrictions were still in place.
The company reported a net loss of $509.3 million or $1.22 a diluted share compared to a loss of $717.8 million or $1.94 a diluted share in the prior year.
Net fuel price per metric ton increased to $836 from $673 in 2021 and the company reported fuel expense of $181.2 million in the quarter.
NCL said second quarter occupancy was about 65% and the occupancy "remains below the comparable 2019 period but at higher prices" in the second-half.
Bookings are not expected to recover to the 2019 level at least till the next year, indicating losses to continue.
NCL expects total revenue per Passenger Cruise Day to increase in "high-single digits" compared to 2019 levels.
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