Will DCL go bankrupt?

[randumb0]

Can DCL survive if they don't sail this year?

 

[LAX]

If I lose my two grand on my giftcards, I lose it. Nothing much I can do. I will accept that and be thankful I made it out alive. Others have lost so much more.

Are you worry about Disney gift cards? IF Disney goes out of business in the next decade, there will be other things to be concerned about than losing values of the gift cards.

LAX

 

[SL6827]

Are you worry about Disney gift cards? IF Disney goes out of business in the next decade, there will be other things to be concerned about than losing values of the gift cards.

LAX

Yes that's my point. And the fact others have lost thier lives.

 

[speicher46]

Disney is losing $30,000,000 a day. It will be some time before their financial situation returns to normal. The fundamentals of the company, however, are exactly the same as they were before this started. They will be hugely successful once again. There is zero chance of them going bankrupt. This unfortunately is not true for numerous companies who were on shaky ground before this all started. It is also not true for countless small businesses. We need to get back to normal asap.

 

[truck1]

What exactly was different for the public.

varies from situation to situation but last minute cancellations, delays, rerouting. We were on one of DAEs last flights in the Carribean. We flew from Miami to Bonaire with a transfer in Curacao. Initially we were supposed to fly out at 730 in the morn. About 2 weeks out, they canceled our flight and the 1130 flight and put everyone on the 330 flight. Flight didnt get to Miami until 530 supposedly due to weather. Left about 630, got to Curacao about 930ish pm. Had to go to customs to pay for a transfer fee that should have been included but due to the state of the airline, we had to pay in person. Got on the puddle.jumper about 1030, and what was supposed to go direct to Bonaire now went to Aruba first. Got to Bonaire about midnight. On the return trip, we were supposed to leave at 430 in the afternoon but those flights were canceled and we left at 730am. Or so we thought. We left Bonaire for Curacao at 9. Got to spend another 4 hours in the terminal at Curacao because someone from DAE had to pay cash to get the plane out of Curacao. When we finally got back home we realized that DAE was on it's way out, and closed up shop 2 weeks after we got home. We also found out that their employees had not been paid in over a month.

 

[smmco]

varies from situation to situation but last minute cancellations, delays, rerouting. We were on one of DAEs last flights in the Carribean. We flew from Miami to Bonaire with a transfer in Curacao. Initially we were supposed to fly out at 730 in the morn. About 2 weeks out, they canceled our flight and the 1130 flight and put everyone on the 330 flight. Flight didnt get to Miami until 530 supposedly due to weather. Left about 630, got to Curacao about 930ish pm. Had to go to customs to pay for a transfer fee that should have been included but due to the state of the airline, we had to pay in person. Got on the puddle.jumper about 1030, and what was supposed to go direct to Bonaire now went to Aruba first. Got to Bonaire about midnight. On the return trip, we were supposed to leave at 430 in the afternoon but those flights were canceled and we left at 730am. Or so we thought. We left Bonaire for Curacao at 9. Got to spend another 4 hours in the terminal at Curacao because someone from DAE had to pay cash to get the plane out of Curacao. When we finally got back home we realized that DAE was on it's way out, and closed up shop 2 weeks after we got home. We also found out that their employees had not been paid in over a month.

That obviously wasn't one of the legacy airlines in this country.

 

[truck1]

That obviously wasn't one of the legacy airlines in this country.

It wasnt but that's my personal experience. I've heard similar stories about legacy airlines that are no longer flying. After a certain point, caterers and fuel suppliers will demand cash before servicing aircraft. Its basically a death sentence.Theres a book out called terminal days runway nights a story about like at JFK that touches on it. I want to say it was either TWA or Pan Am they talked about in a similar situation. But basically, once an airline gets to a certain point, theres nonesuch thing as normal nor guarunteed.

 

[smmco]

It wasnt but that's my personal experience. I've heard similar stories about legacy airlines that are no longer flying. After a certain point, caterers and fuel suppliers will demand cash before servicing aircraft. Its basically a death sentence.Theres a book out called terminal days runway nights a story about like at JFK that touches on it. I want to say it was either TWA or Pan Am they talked about in a similar situation. But basically, once an airline gets to a certain point, theres nonesuch thing as normal nor guarunteed.

.
Delta, AA and United all went through bankruptcy post 911. Some airlines are gone like Northwest. TWA merged with American. Hopefully they all survive this .I don’t think is necessarily a death sentence.

 

[truck1]

.
Delta, AA and United all went through bankruptcy post 911. Some airlines are gone like Northwest. TWA merged with American. Hopefully they all survive this .I don’t think is necessarily a death sentence.

When I said death sentence I was referring to a airline. Under certain circumstances it becomes a death sentence when they can no longer use credit for fuel etc. Sadly most of the legacy airlines are gone. My grandmother was the executive assistant for the vp of maintenance for Pan Am at JFK in the early 80s, and I watched TWA, Eastern, and Pan Am stop flying or merge. I worked for Virgin Atlantic Cargo when Northwest was bought out by Delta. Theres a lot that goes on that doesnt make it to the national news. Especially back then before social media.

I doubt very much that this will be death sentence for DCL or any of the other biggies. The one that comes to mind that will have an issue is Bahamas Paradise out of Pt Everglades. They run 2 smaller ships back and forth to Freeport. 1 is a retired Carnival ship and the other a former Costa ship. They took a beating from Irma and now this. I cant see them coming out unscathed compared to DCL, which is closest in size I can think of.

 

[smmco]

When I said death sentence I was referring to a airline. Under certain circumstances it becomes a death sentence when they can no longer use credit for fuel etc. Sadly most of the legacy airlines are gone. My grandmother was the executive assistant for the vp of maintenance for Pan Am at JFK in the early 80s, and I watched TWA, Eastern, and Pan Am stop flying or merge. I worked for Virgin Atlantic Cargo when Northwest was bought out by Delta. Theres a lot that goes on that doesnt make it to the national news. Especially back then before social media.

I doubt very much that this will be death sentence for DCL or any of the other biggies. The one that comes to mind that will have an issue is Bahamas Paradise out of Pt Everglades. They run 2 smaller ships back and forth to Freeport. 1 is a retired Carnival ship and the other a former Costa ship. They took a beating from Irma and now this. I cant see them coming out unscathed compared to DCL, which is closest in size I can think of.

Yes I know from personal experience bankruptcy is awful for the employees.

The carnival ceo said they have enough cash to the end of the year and since they are a global company they were able to secure financing outside the US.

He didn’t seem to stressed about it or put off that they aren’t receiving help from US tax payers.

He did mention he hopes Alaska gets help from the government because there are so many industries in that state that are dependent on the cruise season.

 

[ajo]

Well, it looks like Norwegian is at least warning it may go out of business (or have to declare bankruptcy).

https://www.cnn.com/2020/05/05/business/norwegian-cruise-line/index.html
The Disney earnings call is today. It will be interesting what they say about the parks and DCL.

 

[pjacobi]

Disney is losing $30,000,000 a day.

Can you provide a reference where you found this figure?


-Paul

 

[SL6827]

Could it be possible that DCL could go under but not the parks segment? Just wondering if by chance this were to happen and I had by gift cards refunded, maybe those funds could be salvaged at the parks? Or if I just left them on my cruise and DCL went under I could be out those funds? Just brain storming here today.

 

[gourt]

Can you provide a reference where you found this figure?


-Paul

Not the poster, but this has been reported in a lot of places. Here's one:
https://www.nytimes.com/2020/04/12/business/media/disney-ceo-coronavirus.html
That number came from Hal Vogel, a media industry analyst who crunched the numbers.
I'm also curious about the earnings call today.

 

[hogie1]

I read an article today that Norwegian Cruise Line could go out of business. They have by my count 17 current ships, plus 6 planned ships between 2022 and 2027. That is substantially larger than DCL with 4 + 1 (+2) and without the financial backing of Disney's other revenue sources. Every place is gonna take a hit with the corona virus, some more than others. But I would make an educated guess that Disney has enough branding across the board, a better than average rating on their customer service/return customer, and they were doing reasonably well before the down turn. I would also venture to guess that Disney, and other companies, are not only looking at their current & short term numbers, but also planning for future catastrophic events that shut down the world economy. Maybe DCL holds off on newer ships past the Wish? Or perhaps they get rid of the classic ships sooner than expected if new ship contracts are already in play? Who knows, I doubt any of us have access to the accounting books at Disney. For what it's worth, We have a little over $9k locked up in DGC's for our trip that was cancelled, but we rebooked a year out in hopes things look to be getting better. So I understand the fear of losing that hard earned $$. We want to cruise again, and it will be on DCL. But the upcoming economic issues may prevent us from taking another vacation like that for a long time. Good luck to all, be safe & be healthy.

 

[brentm77]

I read an article today that Norwegian Cruise Line could go out of business. They have by my count 17 current ships, plus 6 planned ships between 2022 and 2027. That is substantially larger than DCL with 4 + 1 (+2) and without the financial backing of Disney's other revenue sources. Every place is gonna take a hit with the corona virus, some more than others. But I would make an educated guess that Disney has enough branding across the board, a better than average rating on their customer service/return customer, and they were doing reasonably well before the down turn. I would also venture to guess that Disney, and other companies, are not only looking at their current & short term numbers, but also planning for future catastrophic events that shut down the world economy. Maybe DCL holds off on newer ships past the Wish? Or perhaps they get rid of the classic ships sooner than expected if new ship contracts are already in play? Who knows, I doubt any of us have access to the accounting books at Disney. For what it's worth, We have a little over $9k locked up in DGC's for our trip that was cancelled, but we rebooked a year out in hopes things look to be getting better. So I understand the fear of losing that hard earned $$. We want to cruise again, and it will be on DCL. But the upcoming economic issues may prevent us from taking another vacation like that for a long time. Good luck to all, be safe & be healthy.

I suspect in the end we will see Norwegian enter bankruptcy and reorganize. The brand and assets have significant value that someone will scoop up.

 

[SL6827]

I agree. I have two grand in DGCs, plus I have another $115 on my Disney rewards redemption card right now. If we don't get to cruise, we will still use those funds at Disney at some point. (hopefully) It might be nothing but a short three night stay at an All Star resort with a couple of park days. I don't know. If we make it out of this alive, which I don't know whether we will or not, (odds are in our favor, but I am not the Almighty) we will suffer as a result of the economy. Losing a lot of what we have is a possibility. But if we have our lives and that of our family, that is what is most important. If we get to cruise with our family great, if we get to spend three nights at All Star Music with my family, that is great too!

 

[FigmentSpark]

I suspect in the end we will see Norwegian enter bankruptcy and reorganize. The brand and assets have significant value that someone will scoop up.

And the million dollar question... those who took credits on any NCL cancelled cruises... will they lose them if they go into bankruptcy? I think I'd be asking for a refund after today's news.

 

[SL6827]

I think I am just going to cancel our Disney cruise next year and try to get my two grand back on my gift cards. Who knows? Not real sure I even want to cruise at all next year.

 

[Kp128]

I read an article today that Norwegian Cruise Line could go out of business. They have by my count 17 current ships, plus 6 planned ships between 2022 and 2027. That is substantially larger than DCL with 4 + 1 (+2) and without the financial backing of Disney's other revenue sources. Every place is gonna take a hit with the corona virus, some more than others. But I would make an educated guess that Disney has enough branding across the board, a better than average rating on their customer service/return customer, and they were doing reasonably well before the down turn. I would also venture to guess that Disney, and other companies, are not only looking at their current & short term numbers, but also planning for future catastrophic events that shut down the world economy. Maybe DCL holds off on newer ships past the Wish? Or perhaps they get rid of the classic ships sooner than expected if new ship contracts are already in play? Who knows, I doubt any of us have access to the accounting books at Disney. For what it's worth, We have a little over $9k locked up in DGC's for our trip that was cancelled, but we rebooked a year out in hopes things look to be getting better. So I understand the fear of losing that hard earned $$. We want to cruise again, and it will be on DCL. But the upcoming economic issues may prevent us from taking another vacation like that for a long time. Good luck to all, be safe & be healthy.

The article said they MIGHT file for bankruptcy. It didn’t say they would liquidate.