Cruise line reports return to profitability

August 16, 2009

Norwegian Cruise Line (NCL) has announced that it achieved a profit during its second financial quarter, in a significant improvement over 2008 second-quarter results.

The cruise operator reported $15.4 million in net profits for the three-month period ended 30 June, as compared with a loss of $27 million loss for the same quarter in 2008.

NCL’s EBITDA rose by 87 per cent, to $84.2 million, compared to $45.1 million for the same three-month period last year.

According to the cruise line, its capacity for the balance of this is “substantially booked”, but at prices that are lower than last year, particularly for the current quarter.

Kevin Sheehan, the CEO of NCL, said: “Although I believe we are moving beyond the low point with regard to ticket pricing, we must maintain our diligence in controlling costs and carrying out our strategic initiatives.”

He commented on second quarter results, saying: “I am very pleased with our performance this quarter especially given the current economic climate. Despite the weakness in ticket pricing, we are continuing to achieve improvements in our earnings and have begun to demonstrate consistency in our performance.”

Sheehan went on to say: “Our continuing razor focus on all aspects of our operation, from revenue management to shipboard and shoreside operations, has resulted in record-setting EBITDA for the quarter and an enormous turnaround from our performance just a year ago. Our entire organisation has rallied together to achieve these excellent results.”

Thanks to www.travelmole.com for the above quotes, for more information on this article please visit their website.

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Written by Alf Merrywaters · Filed Under Business, Travel 

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