Severe Cash Crises Maybe

[iancal]

IF I were given the option of an immediate in full refund or a Future credit of 125 percent of my base fare......I would most definitely take the full refund.

 

Cash is king.  Plus, I would not want to limit myself to a specific cruise line.

Edited March 15, 2020 by iancal

[cruiserchuck]

In addition to all the refunds they are giving, I assume new booking are way down, so deposit receipts are way down.

[kazu]

17 minutes ago, GeriatricNurse said:

Jacqui, who purchased the 'Prinsendam'?

 

 

She is now the Phoenix Riessen (hope I spelled that right). they were willing to put something like 40 K euros into her refurbishment.

I wish HAL had the same attitude.  When Orlando A$$ford came on board the ship for a whole couple of days he was quite unimpressed when he heard how many people loved this ship.  People paid a premium to sail on this ship and did it happily.

Obviously this “leader” doesn’t care what his passengers want nor have any leadership when this crisis strikes stating “HAL will still cruise” while Princess Costa and many others had been proactive and cancelled.  

 

Sorry I am a grumpy guss tonight.  
 

 

[npcl]

1 hour ago, johnmik1 said:

The risk managers at Carnival would have thought of all of this and purchased business interruption insurance.It will have a hefty deductible but will pay most of all of these costs.

Nope,  There is a section in their financial filings where they talk about the types of insurance they carry (liability, insurance on ships and land based facilities, etc).  However they explicitly state that they do not have any insurance to cover operational income losses.

[JeffElizabeth]

17 minutes ago, kazu said:

 

 

She is now the Phoenix Riessen (hope I spelled that right). they were willing to put something like 40 K euros into her refurbishment.

I wish HAL had the same attitude.  When Orlando A$$ford came on board the ship for a whole couple of days he was quite unimpressed when he heard how many people loved this ship.  People paid a premium to sail on this ship and did it happily.

Obviously this “leader” doesn’t care what his passengers want nor have any leadership when this crisis strikes stating “HAL will still cruise” while Princess Costa and many others had been proactive and cancelled.  

 

Sorry I am a grumpy guss tonight.  
 

 

The Prinsendam was our favorite ship and over half our cruises on Holland America.  We still miss her. We are looking at lines with smaller ships like Viking and Oceania. 

Edited March 15, 2020 by JeffElizabeth

[dag144]

6 hours ago, avian777 said:

Not to put too fine a point on matters, but I believe 50,000 guest refunds at $1,000 each would equal $50,000,000 and NOT $100,000,000.

You are correct.  I was calculating the cost for two months, 50x2= 100,000,000.

[dag144]

A couple of points.  I don't think that the cruise lines have many friends around the world even in their flagged countries.  I doubt that the USA will be much help in the current election environment.  Florida had a lot to lose but I also doubt that they will have much stomach for assisting.  Their majority of workers are nationals from emerging nations.  Nobody really really wants to support serfdom. The best hope for assistant would be from countries where the ships are built such as Italy.  No help from countries that feel that the companies have set themselves up to avoid taxes.

 

Thus, fellow cruisers, the solution will be more breadcrumbs in the meatloaf!!!

 

O

[Woofbite]

Just my noodling thoughts:

 

I wouldn't be surprised if Warren Buffett stepped in with some of his 128 billion to either loan Carnival Corp. a large chunk of money as he did GE and Goldman Sachs during the last crisis or try to buy the company.  He likes large companies that are dominant in their industries and his history or keeping existing management in place and not meddling with the operation might fit well with the various Arison owners and others who might be in a mood to spread their investments around.