Norwegian may endure long halt

A week after enduring a stock drop because of stories that Norwegian Cruise Line Holdings Ltd. needed to raise money to pay its financial obligations amid the coronavirus shutdown, the company has recovered with enough liquidity to last 18 months without sailing again. But the company, which runs Norwegian Cruise Line, Oceania and Regent Seven Seas, doesn’t expect that to happen.

It detailed its response to the COVID-19 pandemic as well as financial results for the first quarter ending March 31, 2020 in an earnings report.

“In recent weeks, we have taken decisive action to significantly strengthen our financial position in response to the COVID-19 global pandemic,” said company President and CEO Frank Del Rio, citing what amounts to $2.4 billion in capital raised since May 5. “We believe this capital raise ... makes us well-positioned to weather an unlikely scenario of over 18 months of suspended voyages.”