Norwegian Cruise Line Holdings Ltd. Announces Voluntary Suspension of Voyages
Temporary Suspension Includes Voyages for Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises with Embarkation Dates from March 13 through April 11, 2020
Suspension Contributes to Efforts to Stem the Spread of COVID-19
MIAMI, March 13, 2020 (GLOBE NEWSWIRE) -- Norwegian Cruise Line Holdings Ltd. (“Norwegian” or “the Company”) (NYSE: NCLH), a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, today announced a voluntary suspension of all cruise voyages embarking between March 13 and April 11, 2020 for its three cruise brands. The temporary suspension is aimed at contributing to efforts around the globe to contain the spread of the COVID-19 coronavirus. This measure is taken in an abundance of caution and the Company has not experienced any confirmed cases of COVID-19 across its 28-ship fleet.
“The safety, security and well-being of our guests and crew is our highest priority. With the COVID-19 coronavirus impacting communities around the globe, we have enacted a voluntary temporary suspension of cruise voyages across our brands effective immediately,” said Frank Del Rio, president and chief executive officer of Norwegian Cruise Line Holdings Ltd. “We understand the inconvenience that this disruption may cause our guests and travel partners during these quickly evolving and challenging times, and we appreciate their understanding as we partner with local, state, federal and global agencies to combat the spread of COVID-19.”
Guests on voyages that are underway will conclude and guests will be disembarked as soon as possible and assisted with travel arrangements.
Guests who are currently booked on voyages with embarkation dates from March 13 to April 11, 2020 on Norwegian Cruise Line, Oceania Cruises or Regent Seven Seas Cruises are asked to contact their travel agent or the cruise line for more information. All guests on impacted voyages will receive a 125% refund of the fare paid in the form of a future cruise credit, which can be applied toward any future cruise through December 31, 2022. For guests who wish to not avail themselves of the 125% future cruise credit, a 100% refund of the fare paid will be reimbursed to the original form of payment within 90 days of guests’ request. Travel partner commissions on canceled cruises will be protected as per normal policy.
About Norwegian Cruise Line Holdings Ltd.
Norwegian Cruise Line Holdings Ltd. (NYSE: NCLH) is a leading global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. With a combined fleet of 28 ships with approximately 59,150 berths, these brands offer itineraries to more than 490 destinations worldwide. The Company will introduce nine additional ships through 2027.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements in this release constitute forward-looking statements within the meaning of the U.S. federal securities laws intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this release, including but not limited to those regarding our voluntary suspension, are forward-looking statements. Many, but not all, of these statements can be found by looking for words like "expect," "anticipate," "goal," "project," "plan," "believe," "seek," "will," "may," "forecast," "estimate," "intend," "future," and similar words. Forward-looking statements do not guarantee future performance and may involve risks, uncertainties and other factors which could cause our actual results, performance or achievements to differ materially from the future results, performance or achievements expressed or implied in those forward-looking statements. Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; adverse incidents involving cruise ships; adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; the spread of epidemics and viral outbreaks; breaches in data security or other disturbances to our information technology and other networks or our actual or perceived failure to comply with requirements regarding data privacy and protection; changes in fuel prices and the type of fuel we are permitted to use and/or other cruise operating costs; mechanical malfunctions and repairs, delays in our shipbuilding program, maintenance and refurbishments and the consolidation of qualified shipyard facilities; the risks and increased costs associated with operating internationally; fluctuations in foreign currency exchange rates; the unavailability of ports of call; overcapacity in key markets or globally; our expansion into and investments in new markets; our inability to obtain adequate insurance coverage; our indebtedness and restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business, including the significant portion of assets that are collateral under these agreements; pending or threatened litigation, investigations and enforcement actions; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; our inability to recruit or retain qualified personnel or the loss of key personnel or employee relations issues; our reliance on third parties to provide hotel management services for certain ships and certain other services; future increases in the price of, or major changes or reduction in, commercial airline services; our inability to keep pace with developments in technology; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under "Risk Factors" in our most recently filed Annual Report on Form 10-K and subsequent filings by the Company with the Securities and Exchange Commission. The above examples are not exhaustive and new risks emerge from time to time. Such forward-looking statements are based on our current beliefs, assumptions, expectations, estimates and projections regarding our present and future business strategies and the environment in which we expect to operate in the future. These forward-looking statements speak only as of the date made. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statement contained herein to reflect any change in our expectations with regard thereto or any change of events, conditions or circumstances on which any such statement was based, except as required by law.
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