Norwegian Cruise Sees North Americans Skipping European Cruises
Dow Jones
Jul 30
0934 ET - Norwegian Cruise Line says it is seeing a big dip in demand among North American travelers visiting Europe. The cruise company experienced demand pressure across its portfolio, but the most pronounced problem was in European sailings, Chief Financial Officer Mark Kempa tells analysts on a call. European trips represented about 39% of total deployments in the most recent quarter. About two-thirds of Norwegian's customers come from North America, Kempa says. Those consumers are facing higher airfares and broader macroeconomic conditions that are deterring them from booking pricey cruises, he says. Shares fall 8.8%.
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