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Started By
Message
Norweigian Cruise Lines close to filing for Bankruptcy protection
Posted on 5/5/20 at 11:00 am
Posted on 5/5/20 at 11:00 am
CNBC
I see a future where Carnival buys Norwegian in bankruptcy and then controls the seas for all to revel in.
"In March, the company fully drew down an $875 million revolving credit facility and a separate $675 million revolving credit line. The latter matures on March 4, 2021.
In early March, as the virus spread rapidly among some cruise passengers, the State Department warned Americans against traveling by cruise ship. On March 14, the Centers for Disease Control and Prevention issued a no-sail order for cruise ships, extending it on April 9 until July 24."
I see a future where Carnival buys Norwegian in bankruptcy and then controls the seas for all to revel in.
"In March, the company fully drew down an $875 million revolving credit facility and a separate $675 million revolving credit line. The latter matures on March 4, 2021.
In early March, as the virus spread rapidly among some cruise passengers, the State Department warned Americans against traveling by cruise ship. On March 14, the Centers for Disease Control and Prevention issued a no-sail order for cruise ships, extending it on April 9 until July 24."
7
Posted on 5/5/20 at 11:01 am to MrLSU
quote:
I see a future where Carnival buys Norwegian in bankruptcy and then controls the seas for all to revel in.
What is Carnival going to use to buy Norwegian with, Monopoly money?
Posted on 5/5/20 at 11:02 am to go ta hell ole miss
quote:
What is Carnival going to use to buy Norwegian with, Monopoly money?
Dude, Carnival Cruise Lines - regardless of how trashy they are - has a shite ton of money.
Posted on 5/5/20 at 11:03 am to MrLSU
Those women need comfort, Boys.
Posted on 5/5/20 at 11:06 am to Sao
She will face some stiff competition!
Posted on 5/5/20 at 11:11 am to MrLSU
Norweigian sucks.
Went on one of their ships a few years back, and it was the first and last time.
Food was terrible.
Entertainment was
For as much grief as Carnival gets on this board, they truly are the Galactic Empire of the cruise universe.
Went on one of their ships a few years back, and it was the first and last time.
Food was terrible.
Entertainment was
For as much grief as Carnival gets on this board, they truly are the Galactic Empire of the cruise universe.
Posted on 5/5/20 at 11:13 am to TDsngumbo
quote:
Dude, Carnival Cruise Lines - regardless of how trashy they are - has a shite ton of money.
They had to raise $6.4 billion (mostly debt) very recently and are in the same boat as Norwegian.
Posted on 5/5/20 at 11:38 am to LSUAlum2001
I did not know that.
Posted on 5/5/20 at 11:49 am to MrLSU
I bet those are some nasty snatches.
Posted on 5/5/20 at 11:51 am to JS87
NCL paid $20 million for a waterfront property values at 3-4 million last year. Bankruptcy doesnt surprise me during the downturn when you're making moves like that.
Posted on 5/5/20 at 11:53 am to MrLSU
quote:
see a future where Carnival buys Norwegian in bankruptcy and then controls the seas for all to be trashy in
Posted on 5/5/20 at 12:19 pm to MrLSU
quote:
I see a future where Carnival buys Norwegian in bankruptcy and then controls the seas for all to revel in.
Would still have RCL/Celebrity.
The CapEx for a cruise line and the need to spread costs over as many pax as possible, kinda creates the environment for a few mega-companies, anyways.
Carnival Corp and plc controls 47% of pax and Royal Caribbean Ltd controls 23%. Norwegian is at 12 and MSC is at 10.
Posted on 5/5/20 at 12:42 pm to go ta hell ole miss
quote:
What is Carnival going to use to buy Norwegian with, Monopoly money?
Carnival doesn't have that high a debt load. They're not bringing in money but they're not paying for fuel, food, or labor.
They can borrow capital and buy Norwegian for pennies on the dollar.
Posted on 5/5/20 at 1:23 pm to Tempratt
2,3,1,4
Posted on 5/5/20 at 4:51 pm to TDsngumbo
quote:
Dude, Carnival Cruise Lines - regardless of how trashy they are - has a shite ton of money.
Well they just added about $6 billion in debt last month having to pay over 11% interest (junk bonds) because their credit is so bad. They burned through nearly $13 billion in operating costs in 2019 and only have about $7 billion in cash. Where are they hiding all this money you speak of?
Posted on 5/5/20 at 5:00 pm to MrLSU
sounds like they should ask Bermuda for assistance
Posted on 5/5/20 at 5:41 pm to MrLSU
Why do we care? They don’t even fly an American flag on their ships
Posted on 5/5/20 at 5:55 pm to JS87
quote:
Norweigian sucks. Went on one of their ships a few years back, and it was the first and last time. Food was terrible. Entertainment was
We did a Norwegian cruise last December instead of sailing with Royal like usual. Everything you said is the truth; we won't sail with them again.
Posted on 5/5/20 at 6:46 pm to Crusty
quote:
2,3,1,4
None, I say, that's NONE of the above.
This post was edited on 5/5/20 at 6:48 pm
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