Norwegian Cruise Line Holdings Ltd

NCLH NYSE
NCLH
Norwegian Cruise Line Holdings Ltd NYSE
 
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Important events

Aug 102021

No vaccine, no sail

Ahead of its first U.S. voyage since COVID crippled the market, Norwegian Cruise Lines wins a case allowing it to require a vaccine passport before letting travellers aboard its ships.

Cruise operators were some of the hardest hit by the pandemic, and Norwegian is trying to navigate a path forward that will keep everyone safe (and in business). Part of that is figuring out the best way for travel to continue and cruises to re-start the engines – and things have gotten political. Businesses are responding to the rapidly spreading Delta variant while also trying to keep themselves afloat, and one way to ensure travel is safe for those on board is to bring in vaccine passports. Things got messy recently though, after cruise capital Florida banned vaccine passports entirely, throwing a serious spanner in the works. However, after taking the matter to court, Norwegian has prevailed, and a judge has blocked the Governor of Florida, Ron DeSantis, from enforcing the rule on the cruise line. It comes as quite a relief, considering the cruise operator’s first U.S. voyage is due to set off on August 15. At the peak of the pandemic last year, there were a number of COVID outbreaks on ships that grabbed headlines and prompted action from the Centers for Disease Control and Prevention (CDC) against the cruise line industry, so its understandable that operators are now desperate to take any measures to keep their boats COVID-free.

We are pleased that Judge Williams saw the facts, the law and the science as we did and granted the Company's motion for preliminary injunction allowing us to operate cruises from Florida with 100% vaccinated guests and crew.

the company's executive vice president Daniel S. Farkas said.

The news comes on the back of mixed second quarter earnings on Friday that sent prices into the green last week. Norwegian reported a loss per share of $1.93 on revenue of $4.37, beating earnings expectations for a loss of $1.97 per share, but coming in way below revenue expectations of $10 million.

Prices lifted just under 7% in anticipation, and despite widely missing revenue the stock lifted a further 3% on Friday.