NCL suffers from Hawaii pricing pressure
The Star Cruises Group, which includes Norwegian Cruise Line, made a profit in the last quarter to help reduce half-year losses.
The company, which runs Star Cruises in Asia and NCL in other parts of the world, achieved net profits in the three months ending June 30 of $23.4 million against a loss of $33.9 million in the same period last year.
The net loss for the half year was cut by $13 million year-on-year to $56 million.
The group said NCL had suffered “significant downward pricing pressure” on inter-island cruises in Hawaii which hit revenue yield in the half year.
The world’s third largest cruise group’s net revenue was up by more than 10% in the first half due to a 14.3% rise in capacity through the addition of the ships Pride of Hawaii and Norwegian Pearl.
NCL continues to experience pricing pressure in Hawaii in the second half of the year but trade in the Caribbean has “stabilised”.
Meanwhile, demand for the summer has been strong, particularly in Europe, a group statement said.
The group runs a combined fleet of 21 ships, with a further three to be delivered by 2010.
by Phil Davies
Chitra Mogul
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