Ncl expects to return to positive territory starting in the second half of 2022

Frank Del Rio

Despite an increase in losses, mainly due to the costs related to the restarting of the ships, Ncl closes a third quarter of the year with good prospects for the near future. According to the data released by the company, as of September 30, 2021, Norwegian Cruise Line Holdings could count on operations of approximately 40% of its total capacity, with the units in service able to guarantee positive cash flows in the period between July and September. The occupancy rate in the quarter hovered around 57.4%, also due to the self-imposed filling limits of anti-Covid procedures. By the end of the year the idea is to put 75% of the fleet’s total capacity into sea, for reach full operation on April 1st. The group also expects to record positive operating cash flows as early as the first quarter of 2022, with the return to profit expected for the second half of next year.

As mentioned, in the period July – September 2021 the net adjusted losses of the group were higher than those accumulated in the same period of the previous year, amounting to -804.1 million dollars, compared to -638.7 million in 2020. The discrepancy is mainly due to the increase in operating costs, which rose by 131.3%, while revenues grew at the same time from 6.5 million to 153.1 million dollars.

“We are on the right track, with 11 of our 28 ships having successfully resumed navigation to date – underlines the president and chief executive officer of Norwegian Cruise Line Holdings. Frank Del Rio -. Trends are extremely positive with significant onboard revenues, high guest satisfaction scores, and our SailSafe protocols which have proven to be effective in minimizing the impact of Covid-19. Although consumer concerns about the Delta variant led to a slowdown in bookings during the third quarter, net sales volumes have improved over the past six weeks, with future demand expected to remain robust, especially for the second half of 2022 and beyond, when our entire fleet is expected to return to normalized occupancy levels ”.