NCL and financial problems?

[cruizinwithkids]

All of this is quite unsettling to a first time NCL Cruiser.

 

If you find this unsettling you should stay off the boards as it only gets worse.:D

 

Seriously though I think a few posters have brought up excellent points about NCL. They have been able to secure financing for their new builds AND Apollo infused a huge amount of cash into the company.

[doitallWMB]

Thanks! Our date is actually 11/14 for 9 days. Loved the ports!

[coaster]

I can only flashback to 1999 when I tried to book NCL's Leeward at AAA. AAA only had an outdated NCL brochure that they could not give to me. They had no knowledge of NCL also. I booked at another agency that promoted NCL after being scared off from AAA. The Leeward cruise was one of the best I ever had and NCL is still in business to this day. AAA is the one having issues and not NCL as far as I am concerned.

[electricron]

All of this is quite unsettling to a first time NCL Cruiser. There should be financial facts. Is NCL sound or not? Should I cancel my our November 9 day on the Jewel or not? We booked directly through NCL. I almost booked on RCCL or CCL, but after reviewing the NCL site and a couple that is very close to us came back from an

 

NCL Pearl cruise with glowing reports, we decided to try NCL despite all of the SNIPING and CRITICISM from complainers on the blogs. Did I make a mistake? We are easy to please, we just want to get away from the rat race for a few days. One more thing, we purchased NCL's insurance. ??????

 

Here's a link to NCL's latest financial statements:

http://www.sec.gov/Archives/edgar/data/1318742/000095014408001868/g11904e20vf.htm#109

 

Briefly,

Total Assests: 2006=$4,629,624,000 2007=$5,033,698,000

 

Total Liabilities: 2006=$3,174,557,000

2007=$3,798,172,000

 

Net Worth(Assets-Liabilities): 2006=$1,455,067,000 2007=$1,235,526,000

 

Net Profit/Loss in recent years:

2007= -$226,962,000

2006= -$130,899,000

2005= +$16,235,000

 

Most of the losses have been caused by paying ever larger new debt payments for recently purchased new ships.

Pride of America, Jewel, Jade, Pearl, and Gem. To add, NCL has also ordered the two new F3 class ships by financial loans. So more debt will be added soon.

 

Still, NCL is and will be worth more than it owes for a long time to come.

[smeyer418]

I've been watched before!;) To quote the old USAF officer's training manual: "Non-commissioned officers are devious and bear considerable watching."

 

Sea Hound:D

 

 

Yes but if you were in the Air Force and someone said "triple A" you would worry that someone was shooting at you.....

 

(Triple A means Anti Aircraft Artillery)

[doitallWMB]

cruzinwithkids, we had booked the Pearl in October '08 and NCL canceled. I had to pay a fee to change our flight to Miami with the air we booked ouselves. I know we should have waited, but with the current oil price debacle that has been going on since last year, we felt it wise to book air early. That is why it is unsettling. My husband and I are experienced cruisers and just want try freestyle. You misuderstand my point. Resources are not an issue..money is money, regardless of one's reserves. I understand Apollo's direction and reasons, as it is purely a profitability issue. What I do not understand is, why is it even a question? Apollo has VERY deep pockets. NCL is an investment for them, and they intend to make a profit. Period. What is unsettling is the need to defend a cruise line that is one of the oldest in the industry? I want NCL to be the best experience of our lives. I DO NOT prejudge anyone or anything. I just wanted to know if the 3000 I spent on NCL would be difficult to recover. That is all.

[coaster]

I would not base anything on Apollo's investments. Read about Linens 'n Things and Apollo on any news search. Credit cards and debit cards often offer added protection when you don't receive the services you were charged for.

[cruizinwithkids]

cruzinwithkids, we had booked the Pearl in October '08 and NCL canceled. I had to pay a fee to change our flight to Miami with the air we booked ouselves. I know we should have waited, but with the current oil price debacle that has been going on since last year, we felt it wise to book air early. That is why it is unsettling. My husband and I are experienced cruisers and just want try freestyle. You misuderstand my point. Resources are not an issue..money is money, regardless of one's reserves. I understand Apollo's direction and reasons, as it is purely a profitability issue. What I do not understand is, why is it even a question? Apollo has VERY deep pockets. NCL is an investment for them, and they intend to make a profit. Period. What is unsettling is the need to defend a cruise line that is one of the oldest in the industry? I want NCL to be the best experience of our lives. I DO NOT prejudge anyone or anything. I just wanted to know if the 3000 I spent on NCL would be difficult to recover. That is all.

 

My point is that these boards are not exactly a reliable source of information. Many postings are based on rumors and gossip. That's all I meant about your concern about finding the postings unsettling.

[newmexicoNita]

All of this is quite unsettling to a first time NCL Cruiser. There should be financial facts. Is NCL sound or not? Should I cancel my our November 9 day on the Jewel or not? We booked directly through NCL. I almost booked on RCCL or CCL, but after reviewing the NCL site and a couple that is very close to us came back from an NCL Pearl cruise with glowing reports, we decided to try NCL despite all of the SNIPING and CRITICISM from complainers on the blogs. Did I make a mistake? We are easy to please, we just want to get away from the rat race for a few days. One more thing, we purchased NCL's insurance. ??????

I have no idea what you are worried about: The Jewel is a wonderful ship, and yes, even though NCL has had a couple of rough years because of the dissasterous (spelling) Hawaii project if they were is serious trouble 2 new mega ships would certainly not be being built. Someone heard something from someone else who heard from someone else, this is like the old game "gossip" we played as kids. Most of us on these boards only know the little we read, some are a little better informed because of background, profession or whatever but still most of what you see here is rumor. I certainly would not let this concern you at all.

 

Nita

[Sea Hound]

Yes but if you were in the Air Force and someone said "triple A" you would worry that someone was shooting at you.....

 

(Triple A means Anti Aircraft Artillery)

 

Good one!;)

[iv18-Diane]

cruzinwithkids, we had booked the Pearl in October '08 and NCL canceled. I had to pay a fee to change our flight to Miami with the air we booked ouselves. I know we should have waited, but with the current oil price debacle that has been going on since last year, we felt it wise to book air early. That is why it is unsettling. My husband and I are experienced cruisers and just want try freestyle. You misuderstand my point. Resources are not an issue..money is money, regardless of one's reserves. I understand Apollo's direction and reasons, as it is purely a profitability issue. What I do not understand is, why is it even a question? Apollo has VERY deep pockets. NCL is an investment for them, and they intend to make a profit. Period. What is unsettling is the need to defend a cruise line that is one of the oldest in the industry? I want NCL to be the best experience of our lives. I DO NOT prejudge anyone or anything. I just wanted to know if the 3000 I spent on NCL would be difficult to recover. That is all.

 

NCL is not having Financial Problem. If they were you would not be able to buy Travel Insurance from the Major Providers like Access America and Travel guard. They are still insuring NCL.

I just went on the Gem and had a Magical Cruise. I hope to sail NCL again very soon.

 

Diane in Music City

[reefgirl]

When I hear "triple A" I think abdominal aortic aneurysm

[CruisinMaterial]

I'll throw my hat into this conversation as well. I used AAA for my first cruise and it was a Princess Cruise. My second cruise was through a charter company so the price paid didn't fluctuate and I didn't realize I paid way too much for the first cruise until my third cruise where I again went through AAA and then got savvy! This is where I realized that AAA is only out to make themselves a buck. I wanted an upgrade and the TA messed it up and didn't call me when Princess called them. As a result for my mom's first balcony cabin I had to shell out nearly $1,500 more when it would have been $250 if the agent called me. Subsequently I dropped that TA and found out that not only did she miss the upgrade fairy... she took me for a ride again with the fare that I had paid as before it was final payment the price had dropped. I took her off the booking and have never used a TA since.

 

AAA is a useless travel agency. I would never use them again or recommend them to someone who is looking to travel. I agree with most posters that AAA for one reason or another doesn't want you booking with them because when I go in to buy discount tickets for movies, Six Flags or other places and want a brochure they never have them and yet Princess is everywhere to be found!! I guess commission wise it's better for them to book Princess (volume get more $$ in). However, the will of the customer should not be overlooked and what they want. AAA has gotten itself into a sad state of affairs lately. They should stick with roadtrips. :)