kwokpot Posted May 5, 2020 #1 Share Posted May 5, 2020 Headline just reported on CNBC business news channel. Sounds like the company may be exploring Bankruptcy filing( My assumption bases on reported headline) 1 Link to comment Share on other sites More sharing options...
OzCanuck Posted May 5, 2020 #2 Share Posted May 5, 2020 NCL just published that it may not survive... 1 Link to comment Share on other sites More sharing options...
Rare shof515 Posted May 5, 2020 #3 Share Posted May 5, 2020 (edited) here is some articles: https://www.cnbc.com/2020/05/05/norwegian-cruise-line-says-theres-substantial-doubt-about-its-ability-to-continue-as-a-going-concern.html https://www.theglobeandmail.com/business/international-business/us-business/article-norwegian-cruise-line-flags-cash-crunch-going-concern-risks/ https://www.streetinsider.com/Corporate+News/Norwegian+Cruise+Line+(NCLH)+accounting+firm+includes+paragraph+regarding+substantial+doubt+about+ability+to+continue+as+going+concern/16832912.html https://business.financialpost.com/pmn/business-pmn/norwegian-cruise-line-flags-cash-crunch-going-concern-risks Edited May 5, 2020 by shof515 Link to comment Share on other sites More sharing options...
disneykins Posted May 5, 2020 #4 Share Posted May 5, 2020 not good. I thought things might be picking up after Carnival announced sailings starting up Aug. 1. NCL stock was up 6% in pre-market, now its down 10%. Anybody want to buy my Cruise Next certificates, lol. 1 Link to comment Share on other sites More sharing options...
Rare shof515 Posted May 5, 2020 #5 Share Posted May 5, 2020 i have a cruise for September, final payment is approaching. Looks like i might be forced to cancel it. I was hoping that things might improve and my cruise might of happen. Guess not 😞 1 Link to comment Share on other sites More sharing options...
OneParticularHarbour 71 Posted May 5, 2020 #6 Share Posted May 5, 2020 Here is the CNBC article: https://www.cnbc.com/amp/2020/05/05/norwegian-cruise-line-says-theres-substantial-doubt-about-its-ability-to-continue-as-a-going-concern.html?__twitter_impression=true Link to comment Share on other sites More sharing options...
desherry Posted May 5, 2020 #7 Share Posted May 5, 2020 Here is what was just posted on CNBC: https://www.cnbc.com/2020/05/05/norwegian-cruise-line-says-theres-substantial-doubt-about-its-ability-to-continue-as-a-going-concern.html Link to comment Share on other sites More sharing options...
egurbi Posted May 5, 2020 #8 Share Posted May 5, 2020 This is not good, but it is also not the end of the story by any stretch of the imagination. One hopes there will be substantial interest in NCL by some investors, and that even if it is forced to enter into reorganization proceedings it will emerge in some form. Link to comment Share on other sites More sharing options...
ToroAzul Posted May 5, 2020 #9 Share Posted May 5, 2020 glad I only have $100 tied up on my Sept 2021 cruise 2 Link to comment Share on other sites More sharing options...
cruisekitty22 Posted May 5, 2020 #10 Share Posted May 5, 2020 Hoping we don't have to cancel our February 24, 2021 cruise! Link to comment Share on other sites More sharing options...
William W Posted May 5, 2020 #11 Share Posted May 5, 2020 17 minutes ago, egurbi said: This is not good, but it is also not the end of the story by any stretch of the imagination. One hopes there will be substantial interest in NCL by some investors, and that even if it is forced to enter into reorganization proceedings it will emerge in some form. I doubt it, though I can see some existing cruise companies may circle and be interested in buying one of their ship for pennies on the dollar. I'm thinking Pride of America will probably be the one that garner the most interest. 2 Link to comment Share on other sites More sharing options...
Rare EllieinNJ Posted May 5, 2020 #12 Share Posted May 5, 2020 Do you think they will have enough to pay back the ones who asked for a refund instead of FCC? Link to comment Share on other sites More sharing options...
William W Posted May 5, 2020 #13 Share Posted May 5, 2020 Just now, William W said: I doubt it, though I can see the surviving cruise line may circle and be interested in buying one of their ship for pennies on the dollar. I'm thinking Pride of America will probably be the one that garner the most interest. 1 Link to comment Share on other sites More sharing options...
Rare LMaxwell Posted May 5, 2020 #14 Share Posted May 5, 2020 5 minutes ago, EllieinNJ said: Do you think they will have enough to pay back the ones who asked for a refund instead of FCC? No 4 Link to comment Share on other sites More sharing options...
William W Posted May 5, 2020 #15 Share Posted May 5, 2020 Glad I cancelled a month earlier and got my deposit back last week. 4 Link to comment Share on other sites More sharing options...
Nclcruise1415 Posted May 5, 2020 #16 Share Posted May 5, 2020 I'm not about to believe every single article that comes from the media. NCL has been able to put off some loans for up to a year on some of their ships and they're currently working different avenues (like many other lines) to protect and increase capital. As much as you like to read the fear mongering articles you can also find articles that are telling what the lines are doing to protect themselves. 4 1 2 Link to comment Share on other sites More sharing options...
djkolp Posted May 5, 2020 #17 Share Posted May 5, 2020 This is the harsh reality of life during and after Covid-19. The cruise ships had become the poster child for this pandemic. I don't believe that enough people will return to the cruise lines in numbers large enough to keep them in business. Airlines are facing this same reality. I have already written off my Norwegian credit for 2021. 2 1 Link to comment Share on other sites More sharing options...
Dar & Bob Posted May 5, 2020 #18 Share Posted May 5, 2020 2 minutes ago, Nclcruise1415 said: I'm not about to believe every single article that comes from the media. NCL has been able to put off some loans for up to a year on some of their ships and they're currently working different avenues (like many other lines) to protect and increase capital. As much as you like to read the fear mongering articles you can also find articles that are telling what the lines are doing to protect themselves. This is per NCL's filing with the SEC https://www.cnn.com/2020/05/05/business/norwegian-cruise-line/index.html 6 Link to comment Share on other sites More sharing options...
William W Posted May 5, 2020 #19 Share Posted May 5, 2020 1 minute ago, Nclcruise1415 said: I'm not about to believe every single article that comes from the media. NCL has been able to put off some loans for up to a year on some of their ships and they're currently working different avenues (like many other lines) to protect and increase capital. As much as you like to read the fear mongering articles you can also find articles that are telling what the lines are doing to protect themselves. It was NCL who declared it themselves in securities filing so I'll believe what comes out of their own press release. 17 Link to comment Share on other sites More sharing options...
Rare LMaxwell Posted May 5, 2020 #20 Share Posted May 5, 2020 Here is a link directly to todays SEC filing by NCL. Instead of quotes from articles here is the source itself https://www.sec.gov/ix?doc=/Archives/edgar/data/1513761/000110465920056537/nclh-20200416x8k.htm We cannot predict when any of our ships will begin to sail again or when ports will reopen to our ships. Our continuation as a “going concern” is dependent upon, among other things, our ability to increase our liquidity, and our conclusion regarding our ability to continue as a going concern could materially limit our ability to raise additional funds through the issuance of new debt or equity securities or otherwise. If we are successful in seeking additional equity or debt financing, as discussed below under the heading “We anticipate needing additional financing, and such financing may not be available on favorable terms, or at all, and may be dilutive to existing shareholders” As a result of the impacts of COVID-19, we have seen an increase in demand from consumers for refunds on their tickets, and we anticipate this will continue to be the case for the near future. Requests for refunds may reduce our liquidity and risk triggering liquidity covenants in these processing agreements and, in doing so, could force us to post cash or other collateral (including the potential to post certain of our vessels as collateral) as a reserve with the credit card processing companies in accordance with the terms of our agreements with them. Because of COVID-19, we have been in conversation with our credit card processors about posting collateral, and if we were required to post collateral or otherwise maintain a reserve, our financial position and liquidity could be materially impacted. 1 Link to comment Share on other sites More sharing options...
John99 Posted May 5, 2020 #21 Share Posted May 5, 2020 Norwegian Cruise Line indicated on Tuesday it does not have enough cash to meet obligations in the next year and raised doubts about its ability to keep running its Operations. Other Tuesday announcements by NCL to raise cash: Per Globe Newswire – NCL announces an offering of Ordinary Shares worth $350 million NCL announces an offering of Exchangeable Notes and Senior Secured Notes worth $650 million NCL announces $400 million investment by with private firm L Catterton worth $400 million exchangeable senior notes due 2024 TOTAL -- 1 billion They are burning through cash. Can NCL make it? Link to comment Share on other sites More sharing options...
Shawnino Posted May 5, 2020 #22 Share Posted May 5, 2020 6 minutes ago, Nclcruise1415 said: I'm not about to believe every single article that comes from the media. NCL has been able to put off some loans for up to a year on some of their ships and they're currently working different avenues (like many other lines) to protect and increase capital. As much as you like to read the fear mongering articles you can also find articles that are telling what the lines are doing to protect themselves. This is NCL's own filing/release. Nothing to do with the media. Educate yourself. 24 Link to comment Share on other sites More sharing options...
vpearlkc Posted May 5, 2020 #23 Share Posted May 5, 2020 We just made platinum on our last cruise. They can't do this to me. 3 Link to comment Share on other sites More sharing options...
Rare ColeThornton Posted May 5, 2020 #24 Share Posted May 5, 2020 ...and you can hear the sound of several NCL forum posters head's exploding! Hang in there, folks. 4 1 Link to comment Share on other sites More sharing options...
Nclcruise1415 Posted May 5, 2020 #25 Share Posted May 5, 2020 (edited) 2 minutes ago, ColeThornton said: ...and you can hear the sound of several NCL forum posters head's exploding! Hang in there, folks. The idiocity banging on keyboards is at an all time high right now. Amazing, isn't it? :) Edited May 5, 2020 by Nclcruise1415 8 1 Link to comment Share on other sites More sharing options...
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