Norwegian Cruise Line Holdings Ltd. Announces Extension of Suspension of Voyages
May 20 2020 - 9:00AM
Norwegian Cruise Line Holdings Ltd. (“Norwegian” or “the Company”)
(NYSE: NCLH), a leading global cruise company which operates the
Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas
Cruises brands, today announced an extension of its previously
announced suspension of global cruise voyages to include voyages
embarking between July 1 and July 31, 2020 for its three cruise
brands. The voyage suspension contributes to global efforts to
contain the spread of COVID-19. The Company will continue to work
in tandem with the U.S. Centers for Disease Control and Prevention
(CDC), the federal government and global public health authorities
to take all necessary precautions to ensure the health, safety and
security of guests, crew and the communities visited.
Guests who are currently booked on voyages with
embarkation dates between July 1 and July 31, 2020 on Norwegian
Cruise Line, Oceania Cruises or Regent Seven Seas Cruises are asked
to contact their travel agent or the cruise line for more
information.
About Norwegian Cruise Line Holdings
Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH)
is a leading global cruise company which operates the Norwegian
Cruise Line, Oceania Cruises and Regent Seven Seas Cruises
brands. With a combined fleet of 28 ships with approximately
59,150 berths, these brands offer itineraries to more than 490
destinations worldwide. The Company will introduce nine additional
ships through 2027.
Cautionary Statement Concerning
Forward-Looking Statements
Some of the statements, estimates or projections
contained in this release are “forward-looking statements” within
the meaning of the U.S. federal securities laws intended to qualify
for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical facts contained in this release,
including, without limitation, those regarding our business
strategy, financial position, results of operations, plans,
prospects and objectives of management for future operations
(including those regarding expected fleet additions, our voluntary
suspension, our ability to weather the impacts of the COVID-19
pandemic, operational position, demand for voyages) are
forward-looking statements. Many, but not all, of these statements
can be found by looking for words like “expect,” “anticipate,”
“goal,” “project,” “plan,” “believe,” “seek,” “will,” “may,”
“forecast,” “estimate,” “intend,” “future” and similar words.
Forward-looking statements do not guarantee future performance and
may involve risks, uncertainties and other factors which could
cause our actual results, performance or achievements to differ
materially from the future results, performance or achievements
expressed or implied in those forward-looking statements. Examples
of these risks, uncertainties and other factors include, but are
not limited to the impact of: the spread of epidemics, pandemics
and viral outbreaks and specifically, the COVID-19 outbreak,
including its effect on the ability or desire of people to travel
(including on cruises), which are expected to continue to adversely
impact our results, operations, outlook, plans, goals, growth,
reputation, cash flows, liquidity, demand for voyages and share
price; our ability to develop strategies to enhance our health and
safety protocols to adapt to the current pandemic environment’s
unique challenges once operations resume and to otherwise safely
resume our operations when conditions allow; coordination and
cooperation with the CDC, the federal government and global public
health authorities to take precautions to protect the health,
safety and security of guests, crew and the communities visited and
the implementation of any such precautions; the accuracy of any
appraisals of our assets as a result of the impact of COVID-19 or
otherwise; our success in reducing operating expenses and capital
expenditures and the impact of any such reductions; our guests’
election to take cash refunds in lieu of future cruise credits or
the continuation of any trends relating to such election; trends
in, or changes to, future bookings and our ability to take future
reservations and receive deposits related thereto; the
unavailability of ports of call; future increases in the price of,
or major changes or reduction in, commercial airline services; our
ability to work with lenders and others or otherwise pursue options
to defer or refinance our existing debt profile, near-term debt
amortization, newbuild related payments and other obligations and
to work with credit card processors to satisfy current or potential
future demands for collateral on cash advanced from customers
relating to future cruises; adverse events impacting the security
of travel, such as terrorist acts, armed conflict and threats
thereof, acts of piracy, and other international events; adverse
incidents involving cruise ships; adverse general economic and
related factors, such as fluctuating or increasing levels of
unemployment, underemployment and the volatility of fuel prices,
declines in the securities and real estate markets, and perceptions
of these conditions that decrease the level of disposable income of
consumers or consumer confidence; our potential future need for
additional financing, which may not be available on favorable
terms, or at all, and may be dilutive to existing shareholders; any
further impairment of our trademarks, tradenames or goodwill;
breaches in data security or other disturbances to our information
technology and other networks or our actual or perceived failure to
comply with requirements regarding data privacy and protection;
changes in fuel prices and the type of fuel we are permitted to use
and/or other cruise operating costs; mechanical malfunctions and
repairs, delays in our shipbuilding program, maintenance and
refurbishments and the consolidation of qualified shipyard
facilities; the risks and increased costs associated with operating
internationally; fluctuations in foreign currency exchange rates;
overcapacity in key markets or globally; our expansion into and
investments in new markets; our inability to obtain adequate
insurance coverage; our indebtedness and restrictions in the
agreements governing our indebtedness that require us to maintain
minimum levels of liquidity and otherwise limit our flexibility in
operating our business, including the significant portion of assets
that are collateral under these agreements; pending or threatened
litigation, investigations and enforcement actions; volatility and
disruptions in the global credit and financial markets, which may
adversely affect our ability to borrow and could increase our
counterparty credit risks, including those under our credit
facilities, derivatives, contingent obligations, insurance
contracts and new ship progress payment guarantees; our inability
to recruit or retain qualified personnel or the loss of key
personnel or employee relations issues; our reliance on third
parties to provide hotel management services for certain ships and
certain other services; our inability to keep pace with
developments in technology; changes involving the tax and
environmental regulatory regimes in which we operate; and other
factors set forth under “Risk Factors” in our most recently filed
Annual Report on Form 10-K, Quarterly Report on Form 10-Q and
subsequent filings with the Securities and Exchange Commission.
Additionally, many of these risks and uncertainties are currently
amplified by and will continue to be amplified by, or in the future
may be amplified by, the COVID-19 outbreak. It is not possible to
predict or identify all such risks. There may be additional risks
that we consider immaterial or which are unknown. The above
examples are not exhaustive and new risks emerge from time to time.
Such forward-looking statements are based on our current beliefs,
assumptions, expectations, estimates and projections regarding our
present and future business strategies and the environment in which
we expect to operate in the future. These forward-looking
statements speak only as of the date made. We expressly disclaim
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statement to reflect any change in
our expectations with regard thereto or any change of events,
conditions or circumstances on which any such statement was based,
except as required by law.
Investor Relations & Media
Contact
Andrea DeMarco(305)
468-2339InvestorRelations@nclcorp.com
Jessica John(786) 913-2902
Norwegian Cruise Line (NYSE:NCLH)
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