Tag Archives: egypt

Jefferies Raises Viking Price Target, Keeps Hold on Norwegian

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Jefferies Raises Viking Price Target, Keeps Hold on Norwegian

Viking Vela, photo credit Spacejunkie2 – https://flic.kr/ps/GkiQt

Jefferies analyst David Katz updated his outlook on two major cruise operators this week following their fourth quarter and year end 2025 earnings, lifting his price target on Viking while maintaining a cautious stance on Norwegian Cruise Line Holdings.

Viking Impresses

In a note sent to investors, Katz raised his price target on Viking $91 from $80, reiterating a buy rating, after the company posted its fourth quarter and full year results.

Occupancy of 95.0%, against Katz’s 92.7% projection, led the outperformance, driven by particularly strong ocean segment results where occupancy improved 330 basis points year-over-year. Net yields rose 11.0% in the quarter, roughly double analyst expectations.

Looking ahead, Viking said fiscal 2026 is now 86% booked, up from more than 70% as of the third quarter.

“The clarity of growth is also critical support for the increasing valuation multiples we apply,” Katz wrote, adding that he expects Viking to “continue to outperform peers within cruise and across our coverage, largely irrespective of valuation levels.”

Katz also noted that Viking’s river operations are effectively fully fuel-hedged through forward purchase agreements, and that its only itineraries near the Iran conflict, a small percentage of 2026 capacity in Egypt, have not prompted guest concerns.

Norwegian: Hold, $20 Target

Katz was less upbeat on Norwegian Cruise Line Holdings reiterating a hold rating and maintaining his $20 price target.

Management said Norwegian is running slightly behind its optimal booking curve for 2026, he said, and plans to prioritize occupancy recovery, a strategy Katz acknowledged as “a necessary strategic move” but one that “likely comes with lower pricing in the near term.”

On the cost side, Katz said SG&A reductions are now the target for savings, with ship costs already reduced meaningfully. He expects those efforts to gain traction in the second half of 2026 and into 2027.

“Given guidance for leverage greater than 5.0x through YE26, we remain conservative on the shares,” he wrote.

Aroya Announces Return to the Red Sea

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Aroya Announces Return to the Red Sea

Aroya Cruises announced that it is returning to the Red Sea in September, with a new season of sailings departing from its homeport of Jeddah.

The company said that the new itineraries will take guests to some of the most captivating destinations in the region, including the private island of Jabal Al Sabaya and Sharm El Sheikh in Egypt.

After debuting in the region in late June, Aroya is currently completing a summer deployment in the Eastern Mediterranean.

Sailing from Galataport Istanbul, Aroya offered a series of weeklong cruises to destinations in Türkiye, Greece and Egypt.

“Our first Mediterranean season has been a significant milestone for Aroya Cruises, attracting guests from across the region and internationally,” said Aroya’s President, Joerg Rudolph.

“As we return to the Red Sea, we are building on this success with new itineraries that highlight the region’s culture, stunning landscapes, and renowned Arabian hospitality. With the new season, we continue our commitment to creating memorable journeys for both first-time cruisers and returning guests.”

Aroya’s summer season in the Mediterranean ends with an eight-night repositioning voyage that will sail from Istanbul to Jeddah on Sep. 12, 2025.

Ahead of launching its new season in the Red Sea, the Aroya is set to visit Kuşadası, Bodrum, the Suez Canal and Sharm El Sheikh.

Starting on September 20, 2025, the company offers three-, four-, and five-night cruises to the private island of Jabal Al Sabaya, as well as the Egyptian ports of Safaga (Hurghada) and Sharm El-Sheikh.

The Aroya is also set to make visits to Marsa Alam, which will be part of a newly launched itinerary. Other highlights of the season include a new interporting operation in Safaga, available on select departures.

According to the company, the new embarkation port provides added flexibility for travellers and creates new opportunities to experience Aroya’s Red Sea offering directly from Egypt’s coast.

Aroya added that its cruises in the region are designed for both regional guests seeking short escapes and international guests looking to discover the Red Sea.

“The itineraries showcase the diversity of the region’s coastlines and cultural landmarks, delivered with Saudi Arabia’s renowned Hafawa hospitality and the distinctive onboard experience that defines an Aroya journey,” the company stated.

Aroya also confirmed its return to Türkiye in 2026 and 2027 for extended seasons in the Eastern Mediterranean.

TUI Announces Nile Cruises with Fourth Ship

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TUI River Cruises is expanding its offerings with an announcement of a new Nile cruise program set to begin in Winter 2024.

The cruise line will introduce exclusive TUI charter flights from London Gatwick and Manchester Airports to Luxor, Egypt, making it the only tour operator to offer direct, non-stop flights from the UK to Luxor, according to a press release from the company.

The new Nile cruises will feature a fully refurbished five-star ship named TUI Al Horeya, meaning “freedom,” accommodating 145 passengers across 74 cabins, including singles, standard cabins, and suites. Embarking on seven-night, all-inclusive round-trip sailings from Luxor, guests will experience the Nile and visit landmarks like the Luxor and Edfu Temples.

Chris Hackney, Managing Director of TUI River Cruises, expressed enthusiasm for the new offering, noting that a cruise along the Nile provides an unforgettable experience with year-round sunshine, making Egypt the perfect destination for immersing oneself in ancient history, he said.

Hackney said: “TUI River Cruises is going from strength to strength, and we are so excited to introduce this latest offering on the Nile which we are confident our customers will love.

“A cruise along the Nile offers a serene and unforgettable experience with lush landscapes, traditional villages, and other iconic landmarks such as the Luxor and Edfu Temples. With year-round sunshine, Egypt is the perfect destination for exploring ancient history and allowing guests to immerse themselves in a once-in-a-lifetime opportunity,” Hackney said.

To enhance the customer experience, dedicated licensed Egyptologists will be on hand throughout the trip to provide insights and answer any questions about the historical significance of the sites visited.

The company said that the TUI Al Horeya boasts modern amenities, including a top-deck swimming pool, two whirlpools, an entertainment area, a restaurant, Al Fresco dining, a lounge bar, a wellness studio and a boutique shop.

Guests can also enjoy a day and night entertainment program and a range of expert-curated excursions that offer a journey back to the era of pharaohs and dynasties.