Are Viking cruises in financial trouble? (2024)

Are Viking cruises in financial trouble?

Viking Cruises Founder Loses 66% Of Wealth As Pandemic Hits Norway's Richest. Is It Better To Lease Or Buy A Car In Summer 2022?

How financially secure is Viking Cruises?

Viking has good liquidity including our estimate of cash balances of about $810 million at the end of 2020. Subsequent additions to those cash balances include the planned note issuance, aforementioned equity infusion, and about $165 million of proceeds from the sale of the Viking Sun to a joint venture in China.

Are Viking Cruises being Cancelled for 2022?

Viking Cruises has cancelled all 2022 departures on its Kiev, Black Sea & Bucharest itinerary in response to Russia's invasion of Ukraine. The line said it was also evaluating 2022 itineraries that call in Russia with the view to modifying them where necessary.

How much debt does Viking Cruises have?

For the 2019 season, Viking operated a total of 72 river vessels and six ocean-going cruise-liners. The company was founded by Norwegian billionaire Torstein Hagen in 1997. Viking has just over $3.3 billion in total debt.

Is Viking cruise line canceling Cruises?

Viking Ocean and River is currently operating all upcoming scheduled itineraries.

Is Viking a Russian company?

The company was established by Torstein Hagen in St. Petersburg, Russia as Viking River Cruises in 1997.

Is Viking owned by Carnival?

Speaking of independents, that only leaves those lines that may be owned by a larger corporation but are not affiliated with any other cruise brands. These include Disney Cruise Line, MSC Cruises, Silversea Cruises, Star Clippers, Viking Cruises and Windstar Cruises, which was formerly owned by Carnival Corp.

Are masks required on Viking River Cruises?

Face masks are optional while moving about the ship. Please note: Viking's Medical Team continually monitors conditions and may deem face masks to be necessary while moving about the ship, based on conditions at the time of travel.

Which Viking cruise is the most popular?

Your dream can become a reality with the Grand European Tour, the most popular river cruise offered by Viking Cruises. The 15-day voyage gives you highlights of the Danube, Main and Rhine Rivers.

Are Viking River Cruises running in Europe?

May 20, 2021 - Following the May 19, 2021 signal that Europe will allow fully-vaccinated travelers to enter EU countries without the need to quarantine, Viking Cruises is relaunching five European river cruises beginning in July. Starting in July 2021, five of Viking's most popular European river cruises are back.

Which cruise line is in financial trouble?

With lockdowns and travel restrictions in place, cruise companies had no ability to operate and generate cash flow, leading to aggressive debt and equity financing. As a result, Norwegian Cruise Line is going to have a difficult time mounting a meaningful post-pandemic recovery.

Is Norwegian Cruise Line in financial trouble?

But most importantly, Norwegian Cruise Line has suffered greatly from the pandemic-related crisis. The balance sheet is imperfect, although I believe it has recovery potential. The equity has been diluted, whereas the company's stock is quite volatile.

Who is Viking Cruises owned by?

Torstein Hagen (born 1943) is a Norwegian billionaire businessman, and the founder and chairman of Viking Cruises.

Will Baltic cruises be Cancelled 2022?

In the days after Russia invaded Ukraine, all major cruise lines pulled St. Petersburg from 2022 Baltic itineraries, and some lines canceled 2022 Baltic trips outright. But most lines initially stuck with plans for 2023 Baltic cruises, hoping that the conflict would be resolved relatively quickly.

Is Viking currently sailing?

Viking Ocean and River is currently operating all upcoming scheduled itineraries.

Are Russian river cruises Cancelled?

The company has suspended all Scenic and Emerald 2022 and 2023 Russia river cruises, including any connecting land journeys.

What airlines does Viking River Cruises use?

Viking Air Travel Services

At Viking, we never compromise with our choice of airlines and use only quality, scheduled airlines, including British Airways, KLM, Scandinavian Airlines and Lufthansa.

What makes Viking Cruises better?

In addition, Viking Inclusive Cruising provides unparalleled value-with every cruise fare including a veranda stateroom, shore excursions in each port of call, all onboard meals, and all port charges and government taxes.

Does Viking Cruises still go to Russia?

Viking Cruises has ceased all operations in Russia this year in response to the Russian invasion of Ukraine.

Who is the biggest cruise line company?

World's Leading Cruise Lines is a part of Carnival Corporation & plc, the largest cruise vacation company in the world.

How much is the average Viking River cruise?

On average a river cruise by Viking may cost you somewhere around $2000 to $8000 per person. These prices are for a European tour that takes you on a cruise for almost 8 to 21 days.

Where are Viking cruise ships built?

Viking Sky is a cruise ship built by Fincantieri at its shipyard in Ancona, for Viking Ocean Cruises.

What happens if I get Covid while on a Viking cruise?

What happens if a guest tests positive for COVID-19 while on their Viking cruise? Guests with a positive COVID-19 test may be isolated on board or ashore—depending on local guidelines and symptoms, if any.

Does Viking cruises require Covid test?

Viking highly recommends, but does not require, a pre-departure COVID-19 test—unless one is required by the destination. As of June 10, 2022, select ocean voyages on the Viking Orion and expedition voyages on the Viking Octantis in the United States and Canada will continue to require a pre-departure COVID-19 test.

What happens if I test positive for Covid on a river cruise?

If you or your travel companions have COVID-19 symptoms or test positive at embarkation, the cruise ship may deny you from boarding. If you are allowed to board, you may be required to isolate or quarantine, depending on your symptoms and test results.

What is the best month to take a European river cruise?

The European River cruising season runs from March through December, though the best time to take a river cruise in Europe is during the late spring (April-May) or early fall (September-October).

Which is the most scenic river cruise in Europe?

What are 2 major reasons you can identify as to why Viking is the leading cruise line in the industry?

Are river cruises Cancelled in Europe 2022?

On March 1, we made the decision to cease all operations in Russia in 2022. At this time, we have made the decision to cancel all departures of our Ukraine and Russia river itineraries through 2023. We will also replace scheduled stops in Russia for all 2022, 2023 and currently open 2024 ocean itineraries.

Is it safe to take a river cruise in Europe?

Although security procedures on river cruise ships aren't as formal as you might see on the much larger ocean vessels, all cruise lines have security procedures in place to protect passengers. In Europe, some ports, such as Amsterdam, are adding security as well.

Are European river cruises operating in 2022?

Europe is HOT

"Demand for river cruising for 2022 is over the top," said Richelle Schuetz, owner of Designing Dreams Travel, an independent agency in the Avoya Travel Network. "I have never been so busy these first six months of the year trying to keep up. People are also booking into 2023."

Are Cruises losing money?

The latest forecasts from S&P Global Market Intelligence show all three major cruise lines losing money until at least Q3 2022 and Q4 being rather hit or miss. That being said, things should start to settle down in 2023 and thereafter.

Is Norwegian Cruise going to survive?

Norwegian Cruise Line has improved its financial position even though it has taken on more than $12 billion worth of debt to survive, including an additional $2.1 billion in debt transactions conducted just this month.

Is Royal Caribbean losing money?

That was made clear Monday as Royal Caribbean Group reported a net loss of $5.8 billion (or $27.05 per share) for full year 2020, compared with net income of $1.9 billion (or $8.95 per share) for 2019.

Is Norwegian Cruise Lines a good buy now?

According to TipRanks' analyst rating consensus, NCLH stock comes in as a Moderate Buy. Out of 10 analyst ratings, there are five Buy recommendations and five Hold recommendations. The average Norwegian Cruise Lines price target is $22.00, implying an upside of 90.48%.

Will Norwegian stock bounce back?

With the mix of higher inflation and the potential for unemployment to increase, it will be very hard for Norwegian to sustain a bounce-back as it sets its sails for the summer. Count it as another lost season for Norwegian, which saw its shares shed nearly half of their value year-to-date.

Why is NCL stock so low?

Norwegian was forced to incur billions of dollars of debt during the early stages of the pandemic, when its ships were unable to sail due to coronavirus-related safety measures.

Who owns Viking cruise company?

What is the stock symbol for Viking Cruises?

HE - Viking Line Abp.

How many guests are on Viking Ocean Cruises?

Discover Our Ships

Each identical sister ship carries only 930 guests and is engineered at a scale that allows direct access into most ports. Classified by Cruise Critic as “small ships,” the fleet features understated elegance and modern Scandinavian design.

How many ships does Viking Cruises have?

An introduction to Viking cruise ships

Founded in 1997 with four river vessels, the company operated just 29 ships as recently as 2012. But it now counts nearly 90 ships in its fleet.