Norwegian Cruise Line Holdings has reported “stellar” forward bookings for 2019 on the back of a record financial performance over the summer.
The parent company of Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands, with a combined fleet of 26 ships, saw profits for the three months to September 30 rise to $506.4 million from $427 million in the same peak period last year.
Total revenue increased 12.5% to $1.9 billion with the company expecting to generate record earnings for the full year.
Chief financial officer Mark Kempa said: “Our three brands fully benefited from strong demand for peak summer season sailings, with particular strength in premium-priced itineraries in Alaska and Europe, resulting in the highest quarterly revenue and earnings in our history.”
Looking forward, president and CEO Frank Del Rio said: “The robust booking environment for cruise vacations is alive and well as evidenced by our stellar booked position for 2019, which continues to exceed this year’s record levels, with booking momentum accelerating for sailings throughout 2019 and extending into 2020.”
The forecast came despite rising fuel prices and fluctuations in foreign exchange rates.”
Fuel price per metric ton, net of hedges, increased to $510 from $476 in 2017. The company reported fuel expense of $99.6 million in quarter to September.
It had hedged about 64%, 48%, and 38% of its total projected metric tons of fuel consumption for the remainder of 2018, 2019, and 2020 respectively at the end of September.
Total cruise operating expenses rose by 10.8% in the summer three months, mainly due increased capacity due to the addition of Norwegian Bliss to the fleet in the second quarter of the year.
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