Tag Archives: Joy

Norwegian Cruise Line Holdings: Cash Flow Positive in Q1 2022

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Aiming to have 75 to 80 per cent of its three brands, 28-ship fleet back in service by the end of 2021, Norwegian Cruise Line Holdings should be cash flow positive in early 2022.

“Looking ahead, based on our resumption plan, we expect to reach a crucial inflexion point with operating cash flow turning positive over the course of the first quarter of 2022,” said Mark Kempa. executive vice president and chief financial officer.

That’s only five to six months away, he said, on the company’s second-quarter earnings call.

“So we’re very pleased with the booking trends that we’ve seen. Obviously, as we restart and our ships enter service, that starts to generate that cash flywheel that we’ve been talking about. So we’re very pleased … there’s always a little bit of risk out there. But based on our measured plan, we think we have a solid game plan of returning to cash flow-positive operations.”

Later in the call, he added: “We expect to be cash-flow positive over the course of the first quarter of 2022. So when you think about that from a restart within a six-month period to be cash flow positive, we feel that’s pretty tremendous. And we’re pretty proud of that. So we look forward over the next few months of restarting our fleet.”

Norwegian Cruise Line Rules out UK Sailings.

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Norwegian Cruise Line’s UK chief has ruled out operating round-Britain sailings this summer in favour of recently announced fly-cruise itineraries which “fit our brand better”.

NCL announced plans to restart voyages from July – with Norwegian Jade sailing from Athens, Norwegian Gem out of Punta Cana (Dominican Republic) and Norwegian Joy homeporting in Jamaica’s Montego Bay.

Speaking to TTG on Thursday (8 April) Eamonn Ferrin, vice-president and managing director UK, Ireland, Middle East and Africa, said the line had looked at deployment “from a global level” and felt the destinations and itineraries announced were “much more suitable” for guests across its source markets.

“People want to go on a fly cruise to the Med or Caribbean, and we feel that’s a better market for us to go for,” he said. “We feel it fits our brand better and our customers better. So I don’t think we’ll be looking to stand up a UK ship for this season.”

Ferrin said a late July restart, coupled with NCL’s global outlook, meant favouring sailings away from the UK.

“It got a bit late to be starting up at the end of July. You’re getting into a late-season process – so we felt [the announced itineraries] were a better fit. The three we’ve chosen on a global basis are stunning itineraries that Brits love and there’s already a lot of demand.”

However, Ferrin asserted NCL’s commitment to the UK market through its partnership with ABP Southampton on a new terminal at the port.

“Our long-term goal is to have a lot more capacity from Southampton – so we definitely see a bright future for more departures.”

Speaking alongside Ferrin, NCL president and chief executive Harry Sommer described being able to restart as “like Christmas in April”, adding how “in a typical year” the Greek Isles are NCL’s most popular destination among UK customers.

“We normally have three ships out of Athens, Venice and Rome that are extremely well booked by the Brits,” he said.

Sommer shared his hopes British travellers would be able to join NCL cruises in Jamaica and the Dominican Republic once travel restrictions were relaxed later in the summer “certainly by August”.

Norwegian Will Become Employer of Choice for Theater Performers

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Rock of Ages.

The long pause in theatre operation in the West End and on Broadway may lead to a shift of the theatre hotspots to cruise ships, said Senior Vice President for Entertainment and Cruise Programs at Norwegian Cruise Line, Richard Ambrose.

“The labour market for performers and those in the entertainment – musicians, technicians – are clamouring for work. They’ve been unemployed for almost over a year now. And there’s really no end in sight right now. Broadway is looking at late summer of 2021, the West End is trying to open… And it just doesn’t happen,” Ambrose said.

“The cruise industry, and especially the Norwegian Cruise Line, is going to be the employer of choice, which is great,” he added.  

According to Ambrose, speaking recently at a virtual press conference, Norwegian has around 2,300 to 2,600 people working in the entertainment department across its 17-ship fleet, which makes the cruise line “the world’s largest regional theatre.” 

“Internally, we call ourselves the world’s largest regional theatre. And it really is true. Because if you look at us and what we’re doing from the Broadway, West End production series, the shows that we get prior to Broadway… If you look at Six, the musical – we had two productions on our ships before even touched Broadway, which is a huge coup. Not only for Norwegian Cruise Line but for the industry,” he said.

“It really means that the entertainment industry is taking us seriously, but they also really respect what Norwegian Cruise Line is doing.”

Norwegian Cruise Line is working on compiling its health and safety regulations to ensure that its return to cruising is safe, Ambrose said. One thing he revealed about its theatre operations when cruising resumes is that theatre guests will be sat in a “checkerboard” way.

“We only have to be a meter apart right now, so it’s going to be every other seat. And we also have to have space before and after a guest. You won’t have somebody sitting in front of you, you won’t have somebody sitting behind you. It’s like a big checkerboard if you consider it that way,” he said, adding that social distancing will also be observed between the cast and the guests.