Norwegian Cruise Line Holdings Ltd (NCLH), the world’s third largest cruise shipping group, said that cruise credits accounted for two thirds of its advance ticket sales as per early august.
All three brands have instituted programmes for guests on cancelled sailings as a result of the company’s voyage suspension which include offering value-add future cruise credits typically for 125% of the cruise fare paid in lieu of providing cash refunds, the company said in a statement.
These are valid for any sailing through 31 December 2022 and as of 3 August approximately 60% of the guests who have had their voyages cancelled have requested cash refunds.
At the end of June, NCLH had $1.2 billion of advanced ticket sales, including the long-term portion, which includes approximately $0.8 billion of future cruise credits. “The Company continues to take future bookings and receive new customer deposits and final payments on these bookings,” NCLH said.
“To provide additional flexibility to its guests, the Company has also introduced a new final payment schedule for all 2020 voyages which requires final payment 60 days prior to embarkation versus the standard 120 days,” it concluded.
