Ned11 Posted April 9, 2020 #151 Share Posted April 9, 2020 I took a cash refund over the FCC no because I think they will go under, more because I had to pay another deposit and anything over and above the fare would be put to another cruise rather than OBC. I have already rebooked for the 6th December and awaiting for the refund which will take between 45-60 days. Link to comment Share on other sites More sharing options...
Rare DragonOfTheSeas Posted April 11, 2020 #152 Share Posted April 11, 2020 Has everyone gotten their FCC? I knew that it would not be as much as I expected. [it seems they never are] However, mine seems pretty skimpy. I have a couple of questions for veteran FCC people. Do they return your taxes and port charges to your CC rather than include them in the FCC? I have read this on cruise critic--but have not gotten a refund, yet. Also, is the insurance included? . . . Or is that just lost money? [$179.66 for taxes/fees and insurance was $109-pax 1 and $39-pax 2] I got back my shore excursion on my last CC statement. My email stated I have FCCs of $1758 and $588 for my 125% FCC. I paid $1694 and $688 on my invoice. Can anyone give me some information? Link to comment Share on other sites More sharing options...
Biker19 Posted April 11, 2020 #153 Share Posted April 11, 2020 Just now, DragonOfTheSeas said: Do they return your taxes and port charges to your CC rather than include them in the FCC? Yes. Link to comment Share on other sites More sharing options...
Rare DragonOfTheSeas Posted April 11, 2020 #154 Share Posted April 11, 2020 2 minutes ago, Biker19 said: Yes. Thanks, do you know about insurance? It was RCL insurance. Link to comment Share on other sites More sharing options...
Biker19 Posted April 11, 2020 #155 Share Posted April 11, 2020 5 minutes ago, DragonOfTheSeas said: Thanks, do you know about insurance? It was RCL insurance. I don't recall reports on that, but unlikely. Link to comment Share on other sites More sharing options...
Sam.Seattle Posted April 11, 2020 #156 Share Posted April 11, 2020 On 3/13/2020 at 5:13 PM, rolloman said: This is the deal RCCL is offering for those of us who are impacted by the decision not to cruise for 30 days. For each 1000.00 you get 250.00 extra for a future cruise, not bad, but think about this....how long will this no sail situation go? Right now it is 30 days, what if it becomes 60 days+? IF it does extend to a longer duration, RCCL is in deep trouble, possibly Bankruptcy trouble. If BK happens, you lose everything.....so in summation, even though most of us will book another cruise with RCCL, taking the 125% future cruise credit is a roll of the dice. Interesting points... At 10.3 minutes = Debt to Equity for RCL 96.5% At 13.0 minutes = USA goverment disqualifies Cruise industry from bailout because: A) Not create or organized in USA or under USA Law. B) Does not have significant in and a majority of its employees based in the USA. Carnival is incorporated in Panama, Royal is Liberia and Norwegian is Bermuda. Thus paying little or no taxes to the USA. At 31.4 minutes - Carnival security filing statement - We can not predict when any of our ships will sail again. Just looking at the facts... Trying to separate the opinions. So.... Will they file bankruptcy and what value will the Future Cruise Certificates really have? 1 Link to comment Share on other sites More sharing options...
Rare JamesEM Posted April 12, 2020 #157 Share Posted April 12, 2020 I was on the Vision for a b-2-b-2-b, the 2nd two week were canceled, asked for a cash refund and got FCC. Link to comment Share on other sites More sharing options...
retire2cruise55 Posted April 12, 2020 #158 Share Posted April 12, 2020 (edited) 3 hours ago, JamesEM said: I was on the Vision for a b-2-b-2-b, the 2nd two week were canceled, asked for a cash refund and got FCC. That’s not right, unless the cruise was paid with a previously issued FCC. Did you escalate this? Curious as I think we see a lot of FCC “accidentally” issued. 🙄 Edited April 12, 2020 by Luxurycruise2 Link to comment Share on other sites More sharing options...
Boyetter2013 Posted April 12, 2020 #159 Share Posted April 12, 2020 On 4/9/2020 at 11:45 AM, steveru621 said: I certainly hope you are correct. Main lines will continue, but that does not mean they won't go bankrupt to protect them from crushing debt. Many large companies have survived bankruptcy. Even if they file chapter 11, that doesnt mean they will zero out FCC. That would be a major mistake as it would tell customers to not sail them in the future. They will definitely risk screwing shareholders, but hosing those with FCC would probably be an issue they don't recover from. The idea of a re-org is to continue operations while they fix the problem. Zeroing out FCC will directly negatively impact continuing operations. The only way they would zero out FCC is if they chapter 7 and shut the doors permanently. ps.. I just rolled the dice on a June 21 sailing out of NJ on Oasis. It was about an inch above being free for the length and the ship. 2 Link to comment Share on other sites More sharing options...
Jimbo Posted April 12, 2020 #160 Share Posted April 12, 2020 2 minutes ago, Boyetter2013 said: ps.. I just rolled the dice on a June 21 sailing out of NJ on Oasis. It was about an inch above being free for the length and the ship. I have no idea what that means? 1 Link to comment Share on other sites More sharing options...
Boyetter2013 Posted April 12, 2020 #161 Share Posted April 12, 2020 On 4/11/2020 at 12:47 PM, Sam.Seattle said: Interesting points... At 10.3 minutes = Debt to Equity for RCL 96.5% At 13.0 minutes = USA goverment disqualifies Cruise industry from bailout because: A) Not create or organized in USA or under USA Law. B) Does not have significant in and a majority of its employees based in the USA. Carnival is incorporated in Panama, Royal is Liberia and Norwegian is Bermuda. Thus paying little or no taxes to the USA. At 31.4 minutes - Carnival security filing statement - We can not predict when any of our ships will sail again. Just looking at the facts... Trying to separate the opinions. So.... Will they file bankruptcy and what value will the Future Cruise Certificates really have? I have made a little money so far trading options on RCL. One of the real items to look at is free cash and burn rate. Last numbers I saw showed a cash burn rate of $145 million/month. They ended 2019 with $0.243 billion and just drew down on their 2.2 billion credit line. With ships not sailing they aren't burning fuel. RCL is set cash-to-burn for at least 9 months. They will have to deal with the additional debt down the road. Also consider their 2019 Debt-to-EBITDA ratio was 2.7. Not horrible for a company this size. While I definitely wont discount a possible chapter 11 down the road, the odds of a chapter 7 I believe would be quite low based on what we know today. 1 Link to comment Share on other sites More sharing options...
Boyetter2013 Posted April 12, 2020 #162 Share Posted April 12, 2020 6 minutes ago, Jimbo said: I have no idea what that means? I was alluding to how cheap the price was. $341 a person for a guaranteed balcony on Oasis for a week at the end of June. It was worth the gamble. Link to comment Share on other sites More sharing options...
Ocean Boy Posted April 12, 2020 #163 Share Posted April 12, 2020 44 minutes ago, Boyetter2013 said: I was alluding to how cheap the price was. $341 a person for a guaranteed balcony on Oasis for a week at the end of June. It was worth the gamble. Great price but RCI better have some sort of rabbit it intends to pull out of its hat to make that cruise happen. Link to comment Share on other sites More sharing options...
Milwaukee Eight Posted April 12, 2020 #164 Share Posted April 12, 2020 1 hour ago, Boyetter2013 said: Even if they file chapter 11, that doesnt mean they will zero out FCC. That would be a major mistake as it would tell customers to not sail them in the future. They will definitely risk screwing shareholders, but hosing those with FCC would probably be an issue they don't recover from. The idea of a re-org is to continue operations while they fix the problem. Zeroing out FCC will directly negatively impact continuing operations. The only way they would zero out FCC is if they chapter 7 and shut the doors permanently. ps.. I just rolled the dice on a June 21 sailing out of NJ on Oasis. It was about an inch above being free for the length and the ship. I believe, if they filed Chapter, it’s likely they could be ordered to decrease the value of FCC that was issued. A lot depends on the Creditors. In my opinion Link to comment Share on other sites More sharing options...
Boyetter2013 Posted April 12, 2020 #165 Share Posted April 12, 2020 47 minutes ago, Ocean Boy said: Great price but RCI better have some sort of rabbit it intends to pull out of its hat to make that cruise happen. I am only half concerned that it sails. I am almost as happy if it cancels and I bank an extra 25%. Link to comment Share on other sites More sharing options...
UrbanGirlie Posted April 12, 2020 #166 Share Posted April 12, 2020 Don't get caught - take the cash!!!! My story is a nightmare! 1 Link to comment Share on other sites More sharing options...
Rare A&L_Ont Posted April 12, 2020 #167 Share Posted April 12, 2020 On 4/6/2020 at 5:08 PM, Ourusualbeach said: Going ahead and making final payment this week on our July Alaska cruise. I already have the same week booked for next year as a back up. If the cruise gets cancelled the 125% FCC will cover the new cruise with a bit left over. I’ll also take the 125% OBC offer to rebook our shore excursions. Luckily being from Ontario our entire trip is covered under TICO in the event Royal goes under. No risk for us. Great idea. Now you have me thinking... I think I will pay off my October cruise in full this June, especially if things seems to be making a turn for the better. If the cruise doesn't go I can use the FCC (hopefully still 125%) towards my January sailing. It would still leave me with some remaining FCC to be applied to another sailing. I too have booked through a TICO TA and god forbid if RC ends up declaring bankruptcy, I too would be covered. 3 Link to comment Share on other sites More sharing options...
Ourusualbeach Posted April 12, 2020 #168 Share Posted April 12, 2020 14 minutes ago, A&L_Ont said: Great idea. Now you have me thinking... I think I will pay off my October cruise in full this June, especially if things seems to be making a turn for the better. If the cruise doesn't go I can use the FCC (hopefully still 125%) towards my January sailing. It would still leave me with some remaining FCC to be applied to another sailing. I too have booked through a TICO TA and god forbid if RC ends up declaring bankruptcy, I too would be covered. You’ve been to Alaska, you know how expensive the shore excursions are. I figure I’ll come out with close to $1500 in extra OBC. Link to comment Share on other sites More sharing options...
Rare A&L_Ont Posted April 12, 2020 #169 Share Posted April 12, 2020 4 minutes ago, Ourusualbeach said: You’ve been to Alaska, you know how expensive the shore excursions are. I figure I’ll come out with close to $1500 in extra OBC. You will need it. 1 Link to comment Share on other sites More sharing options...
Jimbo Posted April 12, 2020 #170 Share Posted April 12, 2020 (edited) 42 minutes ago, A&L_Ont said: Great idea. Now you have me thinking... I think I will pay off my October cruise in full this June, especially if things seems to be making a turn for the better. If the cruise doesn't go I can use the FCC (hopefully still 125%) towards my January sailing. It would still leave me with some remaining FCC to be applied to another sailing. I too have booked through a TICO TA and god forbid if RC ends up declaring bankruptcy, I too would be covered. Make sure to read the fine print. Probably be waiting in line like everyone else waiting on getting your money back.........I would make sure to have a lawyer on standby. https://www.tico.ca/blog/happens-health-incident-like-coronavirus-impacts-travel-plans Edited April 12, 2020 by Jimbo Link to comment Share on other sites More sharing options...
Ourusualbeach Posted April 12, 2020 #171 Share Posted April 12, 2020 2 minutes ago, Jimbo said: Make sure to read the fine print https://www.tico.ca/blog/happens-health-incident-like-coronavirus-impacts-travel-plans It’s only good things in the fine print as they will now cover (they never used to cover FCC’s) your loss of a FCC due to a cruise or airline insolvency. Do I have any protection if the company that issued my travel voucher goes out of business? If you are unable to redeem a voucher or similar document issued by a TICO-registered travel agency or tour operator for future travel services because the TICO-registered travel agency or tour operator has become bankrupt or insolvent or ceased to carry on business and that failure is related to COVID-19, you can make a claim against the Travel Industry Compensation Fund until March 31, 2022. Coverage under the Travel Industry Compensation Fund has expanded. If you have redeemed a voucher or similar document but the TICO-registered travel agency or tour operator or airline or cruise line becomes bankrupt or ceases operations prior to travel taking place, and travel services are not provided, you can make a Travel Industry Compensation Fund claim, subject to the provisions of the Regulation. 1 Link to comment Share on other sites More sharing options...
molly361 Posted April 12, 2020 #172 Share Posted April 12, 2020 (edited) 14 minutes ago, Jimbo said: Make sure to read the fine print. Probably be waiting in line like everyone else waiting on getting your money back.........I would make sure to have a lawyer on standby. https://www.tico.ca/blog/happens-health-incident-like-coronavirus-impacts-travel-plans 10 minutes ago, Ourusualbeach said: It’s only good things in the fine print as they will now cover (they never used to cover FCC’s) your loss of a FCC due to a cruise or airline insolvency. Do I have any protection if the company that issued my travel voucher goes out of business? If you are unable to redeem a voucher or similar document issued by a TICO-registered travel agency or tour operator for future travel services because the TICO-registered travel agency or tour operator has become bankrupt or insolvent or ceased to carry on business and that failure is related to COVID-19, you can make a claim against the Travel Industry Compensation Fund until March 31, 2022. Coverage under the Travel Industry Compensation Fund has expanded. If you have redeemed a voucher or similar document but the TICO-registered travel agency or tour operator or airline or cruise line becomes bankrupt or ceases operations prior to travel taking place, and travel services are not provided, you can make a Travel Industry Compensation Fund claim, subject to the provisions of the Regulation. Makes my using an Ontario based TA all that much better😇 Edited April 12, 2020 by molly361 Link to comment Share on other sites More sharing options...
Ourusualbeach Posted April 12, 2020 #173 Share Posted April 12, 2020 2 minutes ago, molly361 said: Makes my using a Canadian based TA all that much better😇 Ontario not Canadian. 😁 1 Link to comment Share on other sites More sharing options...
molly361 Posted April 12, 2020 #174 Share Posted April 12, 2020 4 minutes ago, molly361 said: Makes my using a Ontario based TA all that much better😇 1 minute ago, Ourusualbeach said: Ontario not Canadian. 😁 2 Link to comment Share on other sites More sharing options...
Rare JamesEM Posted April 13, 2020 #175 Share Posted April 13, 2020 19 hours ago, Luxurycruise2 said: That’s not right, unless the cruise was paid with a previously issued FCC. Did you escalate this? Curious as I think we see a lot of FCC “accidentally” issued. 🙄 I'm waiting until the 2nd cancelled week is processed, at that time I'll make a decision as to the disposition, the wild card is I'm in my mid 70's, and don't know if they will let me sail. Link to comment Share on other sites More sharing options...
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