Originally posted by Redlinekid2:
If NCL couldn't repair the SS Norway, who in the world will believe that they will fix up the SS United States for $500 Million? Yeah right. I'll be very shock if they actually keep their word.
Personally, the Big U is better off as a floating hotel in NYC.
Let's just leave it that NCL could not find financing to repair the SS Norway. By the way, many potential buyers are also having a hard time finding financing to buy and repair the SS Norway. If financing was not a problem, why haven't they bought the SS Norway yet?
NCL bought the SSUS for a song. Whether they can find financing to refubish her is still a question they haven't answered.
Not many cruise lines have $500 million to $ 1 billion in cash lying around.
How much cash does NCL have in it's bank accounts?
On January 1, 2007 > $63,530,000
On Janaury 1, 2006 > $60,416,000
It would be difficult to repair the SS Norway with cash resources alone. NCL finances new ship construction, and would have to finance SS France repairs, with repair costs so high.
NCL has refinanced ships to raise cash in the past, with second, third, and fourth mortages. But it's the banks that provide the cash.
If no banks will supply another mortage on the SS France, where do you think NCL should do?
Rob a bank?