Norwegian Cruise Line Holdings is experiencing fluctuations in third quarter bookings, impacting occupancy rates.
The company reported a loss of $40.3m on $2.1bn in revenue during the first quarter, a decline from last year’s profit.
Key drivers of the loss included $23m in foreign exchange losses and increased marketing expenses.
President and CEO Harry Sommer shared the importance of prioritising pricing over load factor amid economic uncertainty, inting out that the firm has identified over $300 million in potential cost efficiencies to support its long-term strategy. “We believe there is potential for upside if conditions improve. By protecting price, it allows us to garner higher yields on the remaining inventory. Most of the choppiness were for third quarter European itineraries. We remain focused on disciplined pricing, and cost control, and delivering an exceptional guest experience, all while managing the business for the long term.”
