Norwegian Cruise CEO “Astonished” by Solid Booking Rates
August 11, 2020 Admin
PAXNEWS – Despite reports of plunging revenue due to prolonged periods of not sailing during the COVID-19 pandemic, the CEO of Norwegian Cruise Line (NCL) – which reported a net loss of $715 million in its second quarter on August 6th – is “astonished” at how well bookings continue to pour in.
According to its latest earnings report, NCL’s has revenue dropped by $17 million (USD), down from $1.7 billion USD last year.
The cruise line, alongside others with the Cruise Lines International Association (CLIA), also recently suspended voyages until at least November.
NCL’s monthly cash burn is estimated to be around $160 million amid the pandemic. However, company CEO Frank Del Rio remains optimistic that the cruise industry’s loyal customer base will keep NCL afloat.
In a recent media call, Del Rio was “astonished how well bookings are coming in, given the fact the industry is suspended,” as reported by Forbes.