Skip to main content

Norwegian Cruise Line Holdings has reported a GAAP loss of $4.5 billion for financial 2021.

The figure compared to a GAAP loss of $2.2 billion for 2020.

Total revenue decreased 49 per cent last year, to $0.6 billion, down from $1.3 billion in 2020.

The adverse impact on revenue was due to the suspension of all cruise voyages in March 2020 through the first half of last year.

The phased relaunch of certain cruise voyages also ships operating at reduced occupancy levels in the second half of 2021 as a result of the Covid-19 pandemic.

“We launched our Great Cruise Comeback in late July 2021 and in five short months, the teams at Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises have restarted operations on 75 per cent of our capacity, safely carrying over 230,000 guests and delivering the unique vacation experiences that our award-winning cruise brands are famous for,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings.

ADVERTISEMENT

“These last few months have also had their share of challenges caused by the impacts from the Delta and Omicron Covid-19 surges, but despite these challenges which were mostly out of our control, our booked position and pricing remain strong, particularly for the second half of 2022 and into 2023, demonstrating the strong fundamental demand for our cruise offerings.”

The company continues to execute on the phased relaunch plans for its 28-ship fleet.

Beginning in December, the spread of the Omicron variant of Covid-19, with its increased transmissibility, caused several operational challenges and disruptions.

These included additional travel restrictions, increased health-related protocols and certain port closures, which led to the temporary and voluntary cancellation of certain voyages in the fourth quarter of 2021 and first quarter of 2022.

NCL also postponed the restart of certain of vessels.

By year end 2021, the company had approximately 70 per cent of its capacity operating.

Source