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NCL Secures Sufficient Funds to Stay Afloat for a Year

NCL Secures Sufficient Funds to Stay Afloat for a Year

Norwegian Cruise Line (NCL) has secured more than US$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 and 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,” a statement said.

“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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NEIL STEEDMAN has been a trade journalist, editor and proofreader for 53 years, and ITTN's News & Features Editor for 43 years. His travel blog is at www.thetravelbuddhist.com.

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