NCL Corp. Blames Q3 Losses on Euro-Denominated Debt

NCL Corp. reported third-quarter losses of $8.6 million this year, compared to a $49 million gain in the same period last year. NCL Corp. blamed the losses primarily on its Euro-denominated debt, but Colin Veitch, the company's president and CEO, said the future looks rosier. "Pricing in the Caribbean has stabilized and is improving," he said. "We are also encouraged that the measures we have taken with respect to our Hawaii operations seem to be having a positive impact. These improvements have contributed to our overall fourth-quarter booking levels and ticket prices being up versus levels achieved at the same time last year."

NCL said net losses for the third quarter hinged primarily on a $42.9 million loss in connection with the exchange rate on its Euro-denominated debt. In addition, the increase in fuel prices contributed to a year-over-year increase in fuel costs of $3.5 million. (DE)

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