New ships boost for Norwegian
Norwegian Cruise Line’s two new Breakaway ships boosted the company’s earnings during the first quarter of the year.
President and chief executive Kevin Sheehan said both ships commanded double-digit premiums over other Norwegian ships in the same itinerary.
In the first three months of the year, the cruise line’s net revenue rose almost 28% to $499.3 million, driven by a 23% increase in capacity, primarily due to the addition of Norwegian Breakaway and Norwegian Getaway to the fleet in May 2013 and January 2014, and a 3.8% rise in net yield, due to higher ticket prices and onboard spend and other revenue.
Sheehan said the cruise line was projected to boost its earnings by 60% for the full year. On announcing its first-quarter results, the company’s Board of Directors authorised a three-year, $500 million share repurchase programme.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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