Sailed Too Late- COVID-19 Continues to Hamper Cruise Lines
In February 2021, Norwegian Cruise Line Holdings Ltd. (Norwegian Cruise) reported its 2021 full-year earnings. Total company revenue declined 49.4% to $0.6 billion in 2021, as COVID-19 (coronavirus) continued to linger and affect company operations. The primary declines were a result of poor performance in the first half of 2021, when the company only recorded $7.5 million in revenue due to suspended operations, which lasted from the middle of 2020 to July 2021. Overall, the company ended with a $4.5 billion operating loss in 2021 as a result of the pandemic.
COVID|Balance Sheet|ESG|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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