Is there anything the Peace of Mind FCC cannot be used for? Don't forget, we've partnered with NCL specifically, in order to give you the best service and tell you all you need to know. 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. What is excluded in the future cruise credit (FCC) or refund? I tried searching on the NCL site and cannot find it. The credit is typically broken down by each individual guest on the reservation, and their charges. Cruise departure date 13 - 17 March 2020: The last time we spoke regarding the debt maturity, the intention was to use cash flow from operations this year to pay off the existing ECA loans. You can redeem any FCC by calling us! We are focused on better leveraging our scale as we embark on this period of transformational growth and translating this capacity growth into outside benefits to both the top and bottom line. Thanks, Harry. Before getting to the crux of the call, I want to take a moment to thank all of Norwegian's team members around the globe, shipboard, and shore side, who are the backbone of this company and who are the main driver of its success. Amenities If the amount of your credit exceeds the cost of the new cruise, then the balance will be reissued as a new FCC voucher (but likely the same expiration date). So, we are marching toward that. Future reservations are subject to prevailing fares and offers in market at the time of booking. You know, I think that range applies to the end of wave as well that we like to be between 60% to 65% booked for the following 12 months at the end of wave. And, Harry, welcome to the hot seat, as they say. Effective May 18, 2020, FCCs from either the 2020 Suspended Sailings or Peace of Mind FCC are transferable. As I said, those are fixed, so we have very efficient financing going forward. It also cannot be used to pay the initial deposit. I think that, you know, there was kind of the wave of pent up demand following some change in COVID restrictions at the mid to late part of last year. Go to the "My Account" section of MyNCL, and you'll see your available FCCs in the My Coupons & Credits section. I guess to what extent should we expect that to continue to step down throughout the year. ET. Now, for one last time, thank you for your interest and your support. Future Cruise Credit will be credited to you via your Latitudes number and communication will be sent to you once the credit is added to your account. Free expert cruise tips and news from Cruise Hive! Sign up and register your NCL Future Cruise Credit here, then browse the unlimited availability of exciting NCL sailings, cabin categories and destinations available with my future cruise credit and contact one of our expert agents for personalised help with planning and booking. Charters are excluded. We look forward to continuing to demonstrate this improvement over the coming quarters. Listen, we were very pleased with the results in Q1. Each submission request will be individually handled and responded to. July 15, 2017. Will out of pocket costs (including items such as individually purchased air) incurred as a result of this cancellation be reimbursed? W9 Tax document form. Yeah, and, Robin, just to just to add to that, you know, we did try to communicate last quarter and over the course of many investor meetings that when we said historical occupancies, we didn't say that they were going to be exactly the same. All future cruise credits must be redeemed within one year from issue date and can be used for sailings departing on or before December 31, 2022. Congrats, Frank and Harry. So, I can definitively say that in Q2, we will be at or ahead of our Q2 cabin load occupancy across the entire fleet. An email from the current FCC owner requesting the transfer to be made must be included when submitting the transfer request via, Insurance FCCs and 10% bonus FCCs are not transferrable. Norwegian Star will sail from Barcelona, Spain, and Pride of America from her traditional homeport of Honolulu, Hawaii. Operator? Beverage or dining gratuities (if part of the Free At Sea promotion selection) And there's always going to be some variable variability in there, but nothing that overly concerns us. You know, we use all types of tools in terms of automation, even AI to predict when the best time to book a flight is. Any ancillary items sold by Norwegian Cruise Line will be refunded to the cardholder who made the original purchase (refunded to the original form of payment) and will not be included in the Future Cruise Credit. Our next question is from Conor Cunningham with Melius Research. So, the remainder of it, we are carrying through. Reservation must be within the final payment period. Complete the on-board survey. When you get to the "Payment Page" of booking, choose "My Coupons and Credits" from the Payment Type pull down menu. I want to reiterate our commitment and relentless focus on delivering value for all of our key stakeholders. So, while there's always a, you know, both sides of the coin, overall, the economics on going to those itineraries obviously favors the company, or we would not be doing that. We bought two Cruise Next certificates because we figured we would be returning to NCL for future cruises. I booked and paid for 2 cabins, we received future cruise credits to be used within 1 year and the credit was issued to each of the cruisers. Paul, I think we have time for one more question. Norwegian Cruise Line said the following in a letter to travel advisors: As we continue to focus on ways to support the guest experience, we have decided to extend Future Cruise Credits (FCCs) to ensure your guests have the opportunity to enjoy the best vacation possible when they sail. You may include multiple requests on one case so long as the request is complete and proper consent from current coupon owner is included (either in an attached email or by the current owner being the one to submit the case), Original Peace of Mind or Suspended Sailing reservation number that generated the FCC being transferred, Client ID and name of Current FCC Owner who is authorizing the transfer, Client ID and name of Guest Receiving the FCC. In Q2, a quarter ago, you talked about it, returning to historic occupancy levels. The Future Cruise Credit goes to the individual guest on the reservation. I have full confidence in the management team and their ability to take this company on to its next chapter. This insurance Future Cruise Credit will be valid for one year from date of issuance and only applicable towards insurance for all published sailings through Dec 31, 2022 (There is an additional Free at Sea Package charge per person based on the booking) And that's going to come on the back of, again, strong pricing and yield growth, which we've talked about, as well as rightsizing our cost base and leveraging our scale. So, that's expected to provide a meaningful boost to our current and future earnings power. Sure, I'll take that one. Therefore, we focus on total net per diem and net yield as a better holistic representation of our pricing power. Cruise Hive was established back in 2008 and among the earliest blogs in the industry. The current FCC holder is not the original FCC recipient. Future Cruise Credit FAQs Please proceed with your questions. The full cancellation and final payment schedule can be viewed here. Easy Steps to Use Your Future Cruise Credits STEP 1: View FCC STEP 2: Find Cruise STEP 3: Pay with FCC Log In and Find FCCs Listed on My Account Page Go to the "My Account" section of MyNCL, and you'll see your available FCCs in the My Coupons & Credits section. There is no opportunity for the export credit agencies to change those rates. Just on the second half net per diem, you know, it's implied a decent step-up in the second half. Norwegian Cruise Line sends out a letter about its Future Cruise Credits being extended to December 31, 2022, to provide a further chance to rebook. So, we're very happy with that strategy? If a refund is approved, all FCCs (including Bonus FCCs) will be deactivated, and a refund will be issued back to the original form of payment, within 90 days from the request submission date. To redeem a Future Cruise Credit or for additional questions, please call 1-866-921-7925 to speak with a Costco Travel expert. How long will it take to receive the refunded portion (if any) of the cancelled booking? All future cruise credits must be redeemed within one year from issue date and can be used for sailings departing on or before December 31, 2022. So, my first question is on the cost side. In addition, adjusted EPS loss of $0.30 also beat our guidance. This initiative is very much ongoing and will continue to be a top priority under my leadership. First, we continue to see healthy and resilient demand from our target markets who remain willing and eager to spend on cruise vacation travel. As a long-standing cruise industry and company veteran, he brings both continuity and a fresh perspective to this seat. What is your current final payment policy and schedule? I have worked with Harry in various capacities over the course of three decades, and I can assure you that he is a strategic and innovative leader, who has the right talent, skill set, and energy to lead the company at this pivotal time in its history. Should your credits be applied to an active reservation, the refund amount will be subject to Norwegian's cancellation fee policy communicated to our guests at the time of booking and may be found on our website, An active and existing FCC is attached to a profile of a guest who has passed away. Norwegian Cruise Line Extends Future Cruise Credits to End of Year NCL, once you have a reservation, allows you to buy onboard credit up to $1000 per sailing. Before we begin, I would like to cover a few items. For example, if several ports on an itinerary are skipped, a full or partial credit might be given. And congratulations to Frank and Harry, to both of you, with the changes. You know, pretty much close to that, absent the Q1 commentary I gave you already. For guests who are no longer able to travel as a result of an official announcement by a government or agency that takes place within 14 days of sailing (when Peace of Mind is no longer available), and the mandate states guests are NOT allowed to travel, then a refund would be available. 19952023, The Independent Traveler, Inc. Special Event: Q&A with Rudi Schreiner, President, Co-Founder & Co-Owner - AmaWaterways River Cruises, Q&A with Avoya Travel: Learn How to Turn Your Passion into Success by Becoming an Independent Travel Advisor. Can I use My Future Cruise Credit with any cruise line? Steve Wieczynski -- Stifel Financial Corp. -- Analyst. As Harry noted, we continue to evaluate all opportunities to accelerate revenue and improve operating efficiencies and are taking deliberate actions to improve our margins, while maintaining the exceptional guest experience and superior service levels our brands are known for. This will be incredibly convenient for guests who had a cruise booked in 2020 but have so far been unable or unwilling to use their future cruise credit as it was set to expire on January 31. Better Buy in 2023: Norwegian Cruise Line vs. Carnival Stock Posted 2 hours ago. So, but, you know, if you just took Q1 in isolation and you said, "OK, we beat the quarter by $0.15 and you look at the rest of the year, almost half of that is being eroded by fuel and FX headwinds. If the amount of the credit falls short of the new cruise fare, you'll pay the difference out of pocket. What Charges Does Future Cruise Credit Not Cover? Listen, we have about 20% increase in capacity for 2023 versus 2019. The best way to ensure a smooth transfer of future credits collected is to fill out the survey provided on the last day of the sailing. The full amount of your FCC can be applied to the base cruise fare on a new booking, but only if the passenger whose name it is under is the one who is booking. Effective May 18, 2020, FCCs from either our 2020 Suspended Sailings or Peace of Mind FCC are transferable. What Is Future Cruise Credit and How Can I Use It?
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