Norwegian Cruise Traces indicated Tuesday it may not be capable to remain afloat, citing the consequences of the coronavirus pandemic that has shut down the international cruise sector.
The smallest of the a few major publicly traded cruise operators reported in a regulatory submitting that it has expert “substantial impacts” related to the outbreak, including the suspension of cruises and a decline in innovative bookings.
The crisis, it warned, has “raised sizeable question about the company’s means to carry on as a likely worry, as the business does not have adequate liquidity to meet up with its obligations over the upcoming twelve months, assuming no extra financing or other proactive actions.”
Norwegian also declared Tuesday it had elevated $400 million from private fairness organization L Catterton, but the funding is contingent on management raising an additional $1 billion from institutional investors.
In buying and selling Tuesday, the company’s shares sank