Cruise line sees return to profit
Ferry Online Travel News 17/08/2009
For its second financial quarter Norwegian Cruise Line has posted a profit.
The cruise line reversed the downward trend seen in the first quarter, revealing net profits of $15.4 million for the three-month period ended 30 June – as compared with the $27 million in losses for the same quarter last year.
NCL’s EBITDA rose by 87 per cent, from the same quarter in 2008, from $45.1 million to $84.2 million.
According to the cruise operator, its capacity for the remainder of this year is “substantially booked”, but noted that prices are below last year’s, especially for the third quarter.
Kevin Sheehan, the CEO of the cruise line, 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.”
Commenting about the second quarter results, he said: “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.”
← Ferry company threatens to cut UK investment | Index | Pacific Beachcomber acquires Paul Gauguin Cruises →