Norwegian Cruise Line Parent Company to Launch IPO

NCL Corporation Ltd. applies to US securities commission to go public with shares totalling up to $250 million.

Norwegian Cruise Line may soon become a public company. Its parent company, NCL Corporation Ltd., has filed an S-1 registration with the US Securities and Exchange Commission, meaning that it wants to go public with an initial offering of up to $250 million in shares. As reported, the cruise line ordered two mega-vessels this week for delivery in 2013 and 2014, boosting the company’s capacity by more than 30%.

The IPO would raise money to help fund capital expenditures. Known to be a smaller fish among the much larger North American cruise companies Carnival Corp and Royal Caribbean Cruises, which are both public companies, Norwegian Cruise Line has seen almost all of its top execs replaced since Apollo, private equity firm, bought a 37.5% stake at the start of 2008.

The new management team led by Kevin Sheehan, formerly a major figure in the expansive holding company Cendant Corporation, has turned around the company’s fortunes by cutting loss-making cruises in Hawaii from three ships to one and cancelling an order for a second ship of two to be built by STX Europe (previously Aker Yards) in Saint-Nazaire, France. Norwegian Cruise Line has also aggressively expanded its direct-to-consumer sales business. Its share in total ticket revenues has increased from little over 13% in 2007 to 27% today.

USA Today

x

Check Also

Norwegian, Boeing 737-800, delivery, final, MAX, aircraft, type, low-cost, long-haul, flights

Norwegian’s last 737-800 delivery as MAX era starts

The airline takes delivery of its 100th direct-buy Boeing 737-800, an aircraft type that is already being replaced.

Norwegian Cruise Line, shipyard, NCL, Bliss, ship, build, launch, float out, Germany, sailings, mega-ship, karting, race track, Meyer Werft

First float-out for Norwegian Bliss

Norwegian Cruise Line’s new cruise mega-ship takes to the water ahead of its April launch.

Emirates, Ryanair, Flybe, Austrian, Virgin, British Airways, easyjet, American Airlines, airlines, load factor, PLF, fullest, planes, aircraft, environment, business, profit

Airlines with best and worst load factor

Flying planes full makes airlines far more profitable, and it’s better for the environment.

Delta, airlines, United, American Airlines, pay, pilots, bonus, wage, profit share, usa, captains

Airline gives employees $1.1bn

Delta Airlines is being generous, and people working for its competitors are not too happy.

Norwegian, loss, profit, revenue, 2017, year, quarter, costs, oil, fuel, Kjos, result

Norwegian posts €30.7mn full-year loss

The negative result was influenced by global expansion, fleet renewal and other costs.

Norwegian, low-cost, Kjos, Boeing 787, Dreamliner, Airbus, A321neo LR, Singapore, Asia, Argentina, South America, plans, strategy, UK, London, speech, Shard, transatlantic, long-haul, USA, Detroit, Philadelphia

Norwegian plots global expansion

But it is putting the UK first. It makes the first low-cost long-haul flight to South America today.