Norwegian Cruise Line (NCL) has seen its net profits for the third quarter halve compared to the same time last year.
The cruiseline’s net profit for the period was $85.6 million, down from $171.2 million in third quarter in 2008.
Net revenue for the quarter also fell, from $639 million to $550.7 million, which the company attributed to a 10.1% decrease in net yield and a 5.7% fall in capacity days.
It said heavy discounting forced net yield down, while the fall in capacity days was caused by the departure of Norwegian Dream from the NCL fleet in November 2008.
Earnings before interest, other income (expense) including taxes and depreciation (EBITDA) was up 7.1%, from $141.5 million in 2008 to $151.6 million in 2009.
NCL chief executive officer Kevin Sheehan said the improved EBITDA was due to the strategies and initiatives the company has been putting in place, both on the revenue and operating sides of the business.
He added: “With the departure of Norwegian Majesty on November 2, our entire fleet is now comprised exclusively of modern vessels purpose-built for our signature Freestyle Cruising.
“With these great assets, and the addition of Norwegian Epic in 2010, I am extremely confident about Norwegian’s prospects for the future.”
Norwegian Majesty was acquired by Louis Cruise Lines last year and will start sailing as Louis Majesty in December.
Looking ahead, NCL said the fourth quarter of 2009 is “substantially booked” and bookings for the first quarter of 2010 are ahead of last year.
It said recent booking activity indicates that the pricing environment continues to stabilise and the consumer recognises the value of cruising as a holiday option.