Future cruise credit or refund

[eliana]

We cancelled a cruise which was subsequently cancelled by Regent. This was after we had paid in full and when it became obvious that cruising was going to be suspended for some time. We were given a future cruise credit as at that was the only option available at the time we cancelled. Subsequently, and after cancelling themselves, Regent offered to those passengers who had not cancelled a choice of a refund or a future cruise credit. Should not this option also be given to those who had cancelled under the previous terms?

[mrlevin]

Why?  I am exactly in the same situation as you.  With 20/20 hindsight I should have kept the cruise until Regent cancelled; I didn't make that decision then and Regent shouldn't be held liable for my unfortunately wrong decision.

 

Marc

[Steve Q]

2 minutes ago, mrlevin said:

Why?  I am exactly in the same situation as you.  With 20/20 hindsight I should have kept the cruise until Regent cancelled; I didn't make that decision then and Regent shouldn't be held liable for my unfortunately wrong decision.

 

Marc

Totally agree. An Offer was made and was later accepted. There is really no dispute here. 

[forgap]

This is exactly why we decided to play chicken with Regent for our May 11th Cruise.   Since Europe was on lockdown it was clear to us what Regent would have to do.  It was just a matter of waiting them out.  They cancelled one month and one day prior to departure.   We opted then for a refund.  

[Roger88]

I would go for a refund. You many get credits now but then another thing will happen and your cruise will be cancelled or postponed. With cash in hands you can decide whatever you want to do with your time of work. Otherwise you will have to travel only with them 

[rcandkc]

I’m in the same boat.  I took fcc before cruise was officially canceled and waiting for refund of taxes and excursions.  In hindsight I wish we had waited, but we didn’t.  So, we guessed wrong possibly.  I certainly don’t want to pay the additional fare that will be due if things aren’t more clear.  It is not due until 1/1 so we shall see. 

[wristband]

Add me to that lifeboat.  We took FCCs rather than face a total loss.  We knew we were not going last month and thought the cruise would cancel.  But we were not comfortable playing chicken to see if who would jump first.

 

The trip overseas was no go for us so, again for us, it was not a wrong decision.

 

We don't blame Regent - we did it knowing the rules at the time.  Which changed when the cruise cancelled...after our decision.

[BettyDol]

Two more into the same boat.  However, I feel like we were "nudged' into the boat and have a lingering unhappiness about the playing field of FCC vs Refund.  Let me explain!  We were to sail on the Explorer TA, scheduled to depart from Miami on Apr. 3 2020.  On March 5, 2020 Regent made the offer of FCC on cruises scheduled to sail from Apr,3, 2020 until Nov. 30, 2020.  The decision to cancel was required to be made 30 days in advance of the cruises scheduled sailing date.  Unfortunately, our April 3rd sailing was a mere 28 days away.  We were allotted one, and only one, day to make the decision to cancel and receive a FCC.  This FCC could be applied to any cruise up to Dec. 31, 2021.  At the time the Corona virus was worrisome, but not a full blown pandemic yet.  However, a bird -in-the-hand .. scenerio seemed reasonable.  So we accepted the FCC.  Approximately three weeks later the cruise was cancelled by Regent. I can't say for sure, as hindsight changes everything but I think if we had had the 30 day leeway to make the decision, we would have waited and by then, the handwriting would have been on the wall.   I do agree with the previous posters that we accepted the the FCC offer and then things changed.   With only one day to make the decision the FCC seemed the only intelligent choice.  We will be back cruising with Regent and at least we will have the FCC to pay for our next cruise.

[Shippy]

 I thought we were slick waiting...we took the cash refund option.

2 days later they offered us the 'cabin match' with no extra money to be paid if the next cruise was higher priced plus an additional 25% FCC towards another cruise.

We took the cabin match deal.

Now I am worried the company will go bankrupt & we will lose it all.

We should have kept the $$$

[bissel]

Posters here seem to be regretting not taking the refund. Is it now more the worry of bankruptcy or not being so interested in cruising?

[Travelcat2]

2 hours ago, bissel said:

Posters here seem to be regretting not taking the refund. Is it now more the worry of bankruptcy or not being so interested in cruising?

 

We are still happy that we took the FCC's!

[rcandkc]

We want to cruise when safe.  Do we want to lose $xx,xxx in money we paid for June 2020 cruise fully paid...no! So, hope our FCC is not lost money. 

[eliana]

We intend cruising again as soon as it opens up. But with hindsight we should not have cancelled in advance of Regent cancellation as we. like many many others on this thread, have no right to a refund but have a Future Cruise Credit in a company that might go under.

[eliana]

We intend cruising again as soon as it opens up. But with hindsight we should not have cancelled in advance of Regent cancellation as we. like many many others on this thread, have no right to a refund but have a Future Cruise Credit in a company that might go under.

 

The cause of our problems is Covid19, but we cannot sue a virus. Nor can we take a group action against China which seems to have started the virus either inadvertantly or, as some conspirancy theory addicts have suggested, deliberately. The most we can do is boycott chinese goods etc.

 

 

[Guerncruising]

eliana, it would be interesting to see what ABTA’s take is on Future Cruise Credit. We too have some invested in Regent. 

Would prefer to cruise rather than lose - the FCC.

 

[flossie009]

4 hours ago, Guerncruising said:

eliana, it would be interesting to see what ABTA’s take is on Future Cruise Credit.

 

I have lost some faith in ABTA.

They appear to be going out of their way to shield the travel companies (their members) and seem to have abandoned the consumer.

In particular ABTA has withdrawn its Code of Conduct regarding refunds and is lobbying the Government to relax consumer protection laws regarding Package Holiday refunds.

It is understandable that ABTA should try to protect the smaller British TA businesses through these difficult times, but of course large multinational companies are taking advantage.

 

[Guerncruising]

Mmmmm. Wouldn’t be surprised, and then I suppose that it falls to the travel insurers who will no doubt do the same!

[Guerncruising]

Oh and I believe that I have just read that NCLH have succeeded in raising enough funds to keep them above water for a year. 

[Travelcat2]

2 hours ago, Guerncruising said:

Oh and I believe that I have just read that NCLH have succeeded in raising enough funds to keep them above water for a year. 

 

Yes - you are correct.  This means that NCLH cannot go into bankruptcy in the near future.  If they did, they would be liable for fraud (which I'm sure they know about and they will accept the money in good faith).  I'm not sure if those of you not in the U.S. are aware of this.

 

While I am not familiar with ABTA, many companies are changing their rules after this devastating worldwide pandemic.  It will likely be a new world when the pandemic ends.  We are going along with whatever happens - as long as people remain safe and healthy while cruising.  

[eliana]

Further to my  earlier post. Just received our kN5 masks. They are made in China!

[jeb_bud]

18 hours ago, Shippy said:

 I thought we were slick waiting...we took the cash refund option.

2 days later they offered us the 'cabin match' with no extra money to be paid if the next cruise was higher priced plus an additional 25% FCC towards another cruise.

We took the cabin match deal.

Now I am worried the company will go bankrupt & we will lose it all.

We should have kept the $$$

It’s all a matter of how one deals with uncertainty. I’m looking forward to discovering my risk tolerance when the time comes for me to make final payment for our LA to LA cruise in October. Today I think we are going to pay but that’s easy to say two months before the deadline. It mostly depends on whether bankruptcy seems imminent. 

[Pcardad]

NCLH has probably 18-24 months of cash now...there will be no imminent bankruptcy.

 

https://www.marketwatch.com/press-release/norwegian-cruise-line-holdings-ltd-successfully-secures-over-2-billion-of-additional-liquidity-in-oversubscribed-capital-markets-transactions-2020-05-06

[mrlevin]

42 minutes ago, Travelcat2 said:

 

Yes - you are correct.  This means that NCLH cannot go into bankruptcy in the near future.  If they did, they would be liable for fraud (which I'm sure they know about and they will accept the money in good faith).  I'm not sure if those of you not in the U.S. are aware of this.

 

Jackie, I didn't read all the documents; can you let me know where it says they cannot declare bankruptcy based on receiving the funds?  They are even more upside down today than yesterday so a bankruptcy can still be in the future; all we know is that they have enough liquid assets to last 18+ months without cruising; not that their business model is viable without walking out on agreements.

 

thanks,

 

Marc

Edited May 6, 2020 by mrlevin

[Travelcat2]

1 minute ago, mrlevin said:

 

Jackie, I didn't read all the documents; can you let me know where it says they cannot declare bankruptcy based on receiving the funds?  They are even more upside down today than yesterday so a bankruptcy can still be in the future; all we know is that they have enough liquid assets to last 18+ months without cruising; not that their business model is viable without walking out on agreements.

 

thanks,

 

Marc

 

A CC'er friend had a long discussion with her stockbroker yesterday.  He explained that the money is being given in good faith and if Regent went bankrupt within a short time, it would be considered fraud (accepting money under false pretenses?  - not sure).  They didn't say that NCLH will never go bankrupt - just not in the near future.  This is second hand information but I have no reason to disbelieve it.  She is a reliable source.  

[mrlevin]

Jackie, thanks.  I wonder what "short time" means; six months, one year, two years?  I am still keeping my cruises booked and I have FCC that is uninsured I just hope that they have a viable business model that includes the older Regent ships.

 

Again, thanks,

 

Marc