Exclusive: Norwegian Cruise Line has enough cash for 18 months of no revenue - CEOExclusive: Norwegian Cruise Line has enough cash for 18 months of no revenue - CEO
U.S. Norwegian Cruise Line Holdings cruise ship Marina arrives at the Havana bay

NEW YORK (Reuters) – Norwegian Cruise Line Holdings Ltd’s $3.5 billion in cash on hand will be enough to bankroll the company for “at least 18 months” without any new revenue, Chief Executive Frank Del Rio said on Thursday.

“That’s enough to cover our cash burn under a zero-revenue environment for at least 18 months, not 12, 18 months,” Del Rio told Reuters in a phone interview.

“So unless you want to make the case that this pandemic is going to close us down more than a year and a half into almost 2022, we believe the company is in a great financial position, has all the cash and liquidity needed to survive a prolonged lay-up and be in a position to come out strong,” he added.

The comments come a day after Norwegian completed a $2.4 billion fundraising through debt and equity offerings, giving the idled cruise operator needed funds to survive extended voyage suspensions due to the coronavirus pandemic.

(Reporting by Joshua Franklin and Helen Coster in New York; Editing by Bill Berkrot)