Norwegian Cruise Line Holdings Sees Strong Load Factors, Extending Booking Curve

Norwegian Bliss

Load factors, pricing and the booking curve are going in the right direction for Norwegian Cruise Line Holdings and its trio of cruise brands: Norwegian, Oceania and Regent. 

"For the full year 2022, our load factor continues to be meaningfully ahead of 2019 record levels by a wide margin," said Frank Del Rio, president and CEO of Norwegian Cruise Line Holdings, noting the company had a record booked position and record pricing for 2022.

"And when you look at our booking curve at the same point in time versus two and three years ago, we are now booked nine to 10 weeks ahead of those levels," noted Del Rio, on the company's second quarter earnings call.

Del Rio said that pricing is also higher than 2019's record level even when including the dilutive effect of future cruise credits.

"The strength we are experiencing is evident throughout 2022, but particularly strong sequentially as we move through the year and our fleet rollout is completed and becomes fully operational," he continued.

"In addition, approximately 75 percent of our booked position in 2022 is comprised of new cash bookings with the remainder comprised of future cruise credit bookings. So far, approximately 45 percent of our outstanding future cruise credits have been redeemed."

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