Norwegian Cruise Line's Profit Target Slashed on Rising Costs and Israel Conflict
Norwegian Cruise Line Holdings has lowered its 2023 profit target due to increased costs and booking disruptions caused by the Israel-Hamas conflict and the impact of wildfires in Maui. The company has redirected and canceled all trips to Israel and the surrounding region for the remainder of 2023, while its unit, Oceania Cruises, is making changes to its 2024 itineraries and canceling stops in Israel. The conflict and the slowdown in bookings to Hawaii have affected the company's fourth-quarter occupancy levels, leading to a downgrade in full-year occupancy expectations. Norwegian Cruise Line expects a fourth-quarter adjusted loss of 15 cents per share.
