What happens if a new reservation using the FCC is cancelled? Can I use My Future Cruise Credit to upgrade my cabin? Taiwan Simply put, for new and existing bookings made by January 31, 2022, for any voyage with an embarkation date through and including May 31, 2022, guests were free to cancel up to and including January 31, 2022 with Norwegian's Peace of Mind. ALL RIGHTS RESERVED. These guests will receive a 150% refund of the fare paid in the form of a future cruise credit, which can be applied toward any cruise through to 31 December 2022, or a 100% refund of the fare paid. Whats the difference between my Future Cruise Credit, a future cruise program and onboard credit? First, we continue to see healthy and resilient demand from our target markets who remain willing and eager to spend on cruise vacation travel. This is applicable to Peace of Mind and suspended sailings FCCs, including 25% and 50% credit FCCs issued for suspended sailings. Future reservations are subject to prevailing fares and offers in market at the time of booking. Future Cruise Credit Refund Requests - mia-ce.ncl.com And the fact that they're willing to finance the additional 500 million euro, absolutely a positive. The two ships that will signal the moment when the entire Norwegian Cruise Line fleet is operational again are Norwegian Sun and Norwegian Spirit. These are given to customers as a form of compensation for inconveniences caused by cancelled cruises or service issues on a previous cruise. Go to the "My Account" section of MyNCL, and you'll see your available FCCs in the My Coupons & Credits section. We think this shift to premium itineraries, primarily Europe and Alaska, but a little bit in Asia as well, allows us to get the type of customer that we need to get to support our revenue goals and our revenue growth for the future. This reflects the rapid execution of cost savings initiatives identified and implemented last year, some of which were realized earlier than anticipated. So although guests can use the FCC until the end of the year 2022, they must also sail by the end of 2022. Unfortunately not, however, if the new cruise fare is lower than the Future Cruise Credits value, a new Future Cruise Credit will be issued for the remaining balance. Thanks for taking my question. So, it does not represent a further half-a-billion increase in the overall ship cost, it is simply a different mechanism for financing some of the existing costs that were already expected. Good morning, and welcome to the Norwegian Cruise Line Holdings first quarter 2023 earnings conference call. And that's simply is a matter of, you know, when we sell the ticket to the consumer, we sell the air at what we believe are going to be the best projected prices. Company Number: U63030DL2017FTC324871. No, you will have to apply your Future Cruise Credit to a future cruise onboard Norwegian Cruise Line. NCL Future Cruise Credits are non-refundable. As I've said, you know, internally, our target is to turn 2023 with a very high-five handle on a pro forma run rate leverage basis. Once added to your profile, Future Cruise Credit can then be applied to any existing booking or newly created booking. And we had to sell those voyages close in for, you know, very efficient pricing. Please proceed with your questions. And our balance sheet is up, I think, 60% compared to the end of Q1 2019, which I think gives you a very robust indicator of how our book position looks? With that, I will now turn the call over to Mark for his commentary on our financial position and outlook. Regardless of the original Future Cruise Credit's expiration date, the new Future Cruise Credit is valid through December 31, 2021, at which time all unused funds will expire. Norwegian's Future Cruise Credit (FCC) is credit that you can use for your next Norwegian cruise. Better Buy: Royal Caribbean or Norwegian Cruise Line Stock? And, hopefully, over the next few quarters, we can continue to prove that and further build confidence that we're leveraging our scale to the best of our ability. Thank you, Jessica, and good morning, everyone. OK, great. Later, we will conduct a question-and-answer session, and instructions for the session will follow at that time. And then, just as a follow-up, great to hear that you guys are happy with your book for the all-important sort of summer in the Mediterranean. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. The only exception is if the current owner is requesting to transfer back to the original owner that the FCC was issued to. Both the conference call and presentation will be available for replay for 30 days following today's call. We've hopefully demonstrated confidence to the market that we've achieved step one of that. So, we feel good about our positioning over the next year, and we're going to do everything in our power to deliver on all our goals. To give you an example, bookings for Regent's 2026 World Cruise were nearly 70% higher than its 2022 World Cruise, which was the last world cruise launched pre-pandemic, at an average price point of over $230,000 per suite. How long will the Peace of Mind policy be in effect? Norwegian Cruise Line | Future Cruise Credit - United Cruises During the first months of the pandemic in 2020, Norwegian Cruise Line issued thousands of FCCs to guests who saw their cruises canceled. Before we begin, I would like to cover a few items. There will need to be new deposit money paid towards the booking to satisfy the amount of the deposit and then the Future Cruise Credit will be applied towards the balance of the cruise fare costs. [Operator instructions]. Any unused portion of the credit will be forfeited after the expiration date. Listen, in Q2 and in all future quarters, our focus now is on having our cabins as close to 100% full as possible. Since the start, it's been our aim to provide the latest cruise news covering all the major cruise lines. For guests to use their FCC, they will need to choose a cruise they like.
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