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The mix of a poor economy, the fallout from the Costa Concordia crash, and higher fuel prices resulted in tough summer for cruise lines, but creative operating improvements and higher fees helped Norwegian Cruise Lines turn a profit in Q2.
In a year thus far shaping up to be a disappointment for cruise industry leaders, Norwegian Cruise Line reported a 23 percent year-over-year increase in profits for the second quarter of 2012.
Although revenues were up and costs were down slightly, Norwegian president and CEO Kevin Sheehan said Monday that business is still not as strong as he had hoped it would be going into the year.
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Tags: cruise lines, earnings, norwegian air
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