NCLH Reports First Quarter Results

Norwegian Cruise Line Holdings has reported its first-quarter results, which ended March 31, 2021, citing great losses but hope for the future return to sailing.

Overall revenue for the first quarter of 2021 was $3.1 million, due to the complete suspension of cruises. The revenue the same time last year was $1.2 billion. Operating expenses decreased 79.8 percent as opposed to last year, including such expenses like crew costs, fuel, ship maintenance and more.

Despite such bleak numbers, there is hope for the future. Guests are booking further out than usual, but overall, the first quarter of this year saw double the normal volume of the last quarter of 2020. NCLH has $1.3 billion in advance ticket sales in its first quarter, citing a return to planning future cruises, even while cruising itself is suspended.

On April 6, NCLH announced its restart of cruising. NCL’s first cruise will begin July 25, 2021 on a Greek isles cruise out of Athens. Its Caribbean itineraries will begin on August 7, sailing from Montego Bay, Jamaica. Oceania Cruises will restart cruising on August 29 in Copenhagen, while Regent Seven Seas Cruises will sail from the U.K. on September 11.

The company has also submitted a proposal to the CDC on April 5 outlining its restart to cruising from U.S. ports beginning on July 4, requesting the CDC to lift the Conditional Sail Order (CSO). The plan includes a rigorous SailSAFE health and safety program, which requires all crew and guests to be fully vaccinated prior to sailing.

“Over a year after the initial global suspension of cruise voyages, we are pleased to have announced our Great Cruise Comeback program beginning with voyages originating from international ports. Our teams have worked tirelessly and enlisted the guidance of top public health officials and scientific experts to develop our robust, science-backed SailSAFETM health and safety program, which combines mandatory vaccination of all guests and crew with rigorous preventative measures including universal COVID-19 testing,” said Frank Del Rio, president and chief executive officer of NCLH.

“With our SailSAFE program we believe we can provide a uniquely safe and healthy experience which exceeds all other vacation options available on land or at sea. As for the resumption of cruises from the U.S., we continue to engage in dialogue with the U.S. Centers for Disease Control and Prevention. Our team is working through the recently issued and modified technical guidance for which additional clarification is needed on how the incorporation of vaccine requirements impacts the Conditional Sail Order and our path forward,” Del Rio continued.

Click here to learn more about NCLH and its first quarter results.

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