Norwegian Cruise Line Holdings mulling stake sale
Norwegian Cruise Line Holdings has reportedly instructed investment bank Goldman Sachs to help it secure extra funding.
Like all its rivals, NCLH’s finances have come under pressure with all operations suspended in North America potentially until mid-summer.
The mainstream cruise industry’s chosen business model as foreign-flagged companies has come back to haunt them as they were left out of the $2 trillion stimulus package.
The cruise company is apparently in discussions with several private equity firms over a stake sale, Reuters said, citing sources.
No deal is guaranteed, and neither NCLH nor Goldman Sachs has confirmed or denied it.
Its 28-ship fleet is currently idle and its share price has sunk by more than three-quarters this year.
Market leader by fleet size, Carnival Corp has rushed to shore up its finances by raising more than $6 billion in new debt and equity from investors.
Royal Caribbean Cruises Ltd recently secured a $2.2 billion loan.
The US Centers for Disease Control and Prevention extended its ‘no sail’ order for up to 100 days earlier this month.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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