Norwegian Cruise Annual Report Has ‘Going Concern’ Doubt (1)

Norwegian Cruise does not have sufficient liquidity to meet its obligations over the next twelve months, assuming no additional financing or other proactive measures, according to a filing.

• NCLH’s independent registered public accounting firm reissued its report to include a paragraph noting management’s conclusion regarding substantial doubt about ability to continue as a going concern
• Norwegian Cruise expects net losses in 1Q and the fiscal year ending December
• Identified $515m of capex cuts
• Taken steps to improve liquidity, evaluating liquidity strategies
  • “We anticipate needing additional financing, and such financing may not be available on favorable terms, or at all, and ...