125% for credit or take the cash

[Ned11]

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.

[DragonOfTheSeas]

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?

[Biker19]

Just now, DragonOfTheSeas said:

Do they return your taxes and port charges to your CC rather than include them in the FCC?

Yes.

[DragonOfTheSeas]

2 minutes ago, Biker19 said:

Yes.

Thanks, do you know about insurance?  It was RCL insurance.

[Biker19]

5 minutes ago, DragonOfTheSeas said:

Thanks, do you know about insurance?  It was RCL insurance.

I don't recall reports on that, but unlikely.

[Sam.Seattle]

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?

[JamesEM]

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.

[retire2cruise55]

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

[Boyetter2013]

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.

[Jimbo]

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?

[Boyetter2013]

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.

[Boyetter2013]

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.

[Ocean Boy]

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.

[Milwaukee Eight]

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 

[Boyetter2013]

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%.

[UrbanGirlie]

Don't get caught - take the cash!!!! My story is a nightmare!

[A&L_Ont]

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.

 

 

[Ourusualbeach]

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.  

[A&L_Ont]

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.

[Jimbo]

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

[Ourusualbeach]

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.

 

2. 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.

 

 

[molly361]

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.

 

2. 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

[Ourusualbeach]

2 minutes ago, molly361 said:

 

Makes my using a Canadian based TA all that much better😇

Ontario not Canadian. 😁

[molly361]

4 minutes ago, molly361 said:

 

Makes my using a Ontario based TA all that much better😇

 

1 minute ago, Ourusualbeach said:

Ontario not Canadian. 😁

 

[JamesEM]

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.