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Published on Wednesday, May 6, 2020

NCL secures sufficient funds to keep it afloat for a year






Norwegian Cruise Line Holdings has secured more than $2 billion of additional liquidity to help it to cope with the impact of Covid-19 on its business. 


When the financial transactions are complete, the company expects to have about $3.5 billion of liquidity.


It said this meant that it should be able to withstand more than 12 months' of suspended cruises.


"While this is not the company's base case expectation, the company has taken a swift and proactive approach to protect its future given the significant uncertainty and unknown duration of the Covid-19 global pandemic," it said in a statement.


"When the transactions are completed, the additional liquidity alleviates management's concern about the company's ability to continue as a going concern for the next 12 months."

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