Norwegian Cruise Line Holdings Ltd has raised over $2 billion of additional funding to ensure the company can continue during the COVID-19 stoppages.
The announcement comes just two days after it warned it may have to seek bankruptcy protection at the start of capital raising.
The line, which includes Norwegian Cruise Lines, Regent Seven Seas and Oceania, was immediately oversubscribed for the capital raising, meaning it now has funds of up to $2.2 billion dollars, and has $3.5 billion at its disposal – enough to withstand well over 12 months of voyage suspensions.
“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,” said a statement.
Norwegian has a combined fleet of 28 ships with approximately 59,150 berths, and offers itineraries to more than 490 destinations worldwide. The Company will introduce nine additional ships through 2027.