Norwegian Reports 2026 Q1 Results

Norwegian Reports 2026 Q1 Results

Norwegian Cruise Line Holdings today reported financial results for the first quarter ended March 31, 2026 and provided guidance for the second quarter and full year 2026.

Highlights

• First quarter total revenue grew 10% to $2.3 billion. GAAP net income was $105 million, with EPS of $0.23.
• Delivered Adjusted EBITDA of $533 million in first quarter 2026, exceeding guidance, and representing an increase of 18% compared to 2025. Adjusted Net Income more than doubled to $108 million. Adjusted EPS increased $0.13 to $0.23.
• Company lowered full year 2026 guidance with Adjusted EPS expected to be $1.45 to $1.79.
• Company took delivery of Norwegian Luna, featuring an exceptional collection of venues and experiences, including its latest in house production ELTON: A Celebration of Elton John™.
• Announced Board refreshment with the appointment of five new independent directors effective March 31, 2026, further strengthening the Company’s governance and shareholder value focus.
• Executed targeted initiatives to enhance its SG&A profile, generating approximately $125 million of expected annualized run-rate savings.

“

We delivered strong first quarter results, and more importantly we have already begun taking decisive actions to strengthen execution and accountability across the company, which will enhance results over the longer term,” said John W. Chidsey, Chairperson and Chief Executive Officer of Norwegian Cruise Line Holdings.

“During the quarter, we acted with urgency to simplify, optimize, and streamline the organization, including executing SG&A savings initiatives totaling $125 million in expected run rate savings. These are long-term structural actions that we believe will help offset near-term pressures and position the business for stronger performance over time. As we move through the year, we will continue to manage costs and focus on revenue growth to align resources with the high-growth, high value areas of the business. I remain confident and encouraged that we are building a leaner, more effective and nimble organization that positions NCLH for sustainable long-term value creation.”

First Quarter 2026 Highlights

• Generated total revenue of $2.3 billion, a 10% increase compared to the first quarter of 2025, driven by increased Capacity Days. GAAP net income was $104.7 million compared to $(40.3) million in the prior year, with EPS of $0.23.
• Gross margin per Capacity Day increased 4.0% versus 2025 on an as reported basis and increased 2.6% on a Constant Currency basis. Net Yield decreased approximately 0.3% on an as reported basis and 1.0% on a Constant Currency basis, above our guidance of a decline of 1.6%.
• Gross Cruise Costs per Capacity Day was approximately $287, compared to $297 in the prior year. Adjusted Net Cruise Cost excluding Fuel per Capacity Day was approximately $169 on an as reported basis and $168 on a Constant Currency basis, and was down 0.2% on an as reported basis and 1.0% on a Constant Currency basis compared to $169 in 2025, better than guidance.
• Adjusted EBITDA increased 18% to $533 million, compared to $453 million in 2025, exceeding guidance of ~$515 million. Adjusted EPS increased 121% to $0.23, exceeding guidance of ~$0.16.

2026 Full Year Outlook

The Company is experiencing headwinds related to disruptions in the Middle East, including higher fuel expense and signs of softer demand as consumers reevaluate travel plans, particularly to Europe. As previously noted, the Company entered 2026 behind its targeted booking curve, and these headwinds have hindered the Company’s ability to accelerate bookings and close that gap. These external pressures come as the Company continues to enhance its revenue management system and improve execution, resulting in additional pressure on the business and a reduction in its full year guidance. A summary of the updated full year guidance is provided below:

• 2026 full year Net Yield on a Constant Currency basis is expected to be down approximately 3% to 5% versus 2025.
• 2026 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to be approximately flat on a Constant Currency basis versus 2025, reflecting better-than-previously-guided performance driven by workforce optimization and other SG&A savings.
• 2026 full year Adjusted EBITDA is expected to be approximately $2.48 billion to $2.64 billion.
• Adjusted Operational EBITDA Margin for the full year 2026 is expected to be 32.9% to 34.3%.
• Full year Adjusted Net Income is expected to be approximately $679 million to $838 million. Adjusted EPS is expected to be $1.45 to $1.79.

Q2 2026 Outlook

• Q2 2026 Net Yield on a Constant Currency basis is expected to decline approximately 3.6% versus 2025.
• Q2 2026 Adjusted Net Cruise Cost excluding Fuel per Capacity Day is expected to grow approximately 1.0% on a Constant Currency basis versus 2025.
• Q2 2026 Adjusted EBITDA is expected to be approximately $632 million and Adjusted Operational EBITDA Margin for the quarter is expected to be approximately 32.5%.

 

Booking Environment Update

The Company remains below its optimal booking range following certain execution missteps, exacerbated by softer demand related to heightened geopolitical uncertainty. Recent events related to the conflict in the Middle East have impacted bookings across all three brands, especially in Europe during the summer season. While the near-term environment remains challenging, the Company is taking targeted actions to better align commercial strategy, including marketing, with deployment and revenue management, with the benefits of these actions expected to materialize gradually over time.

Liquidity and Financial Position

The Company is committed to optimizing its balance sheet and reducing Net Leverage. As of March 31, 2026, the Company had total debt of $15.2 billion and Net Debt of $15.0 billion. Net Leverage ended the quarter at 5.3x.

As of March 31, 2026, liquidity was $1.6 billion including approximately $185.0 million of cash and cash equivalents and $1.4 billion of availability under our Revolving Loan Facility.

“During the quarter we delivered better-than-expected cost performance across the business,” said Mark A. Kempa, Executive Vice President and Chief Financial Officer of Norwegian Cruise Line Holdings Ltd. “As we navigate a more uncertain macroeconomic and geopolitical environment, we are acting diligently to offset those pressures through targeted SG&A savings and broader efficiency initiatives. Based on the actions taken during the quarter, we now expect full year Adjusted Net Cruise Cost Excluding Fuel to be approximately flat to last year, which should help support margins as we continue to strengthen execution across the business.”

Outlook and Guidance

In addition to announcing the results for the first quarter of 2026, the Company also provided guidance for the second quarter and full year 2026, along with accompanying sensitivities, subject to changes in the broad macroeconomic environment. The Company does not provide certain estimated future results on a GAAP basis because the Company is unable to predict, with reasonable certainty, the future movement of foreign exchange rates or the future impact of certain gains and charges. These items are uncertain and will depend on several factors, including industry conditions, and could be material to the Company’s results computed in accordance with GAAP. The Company has not provided reconciliations between the Company’s 2026 guidance and the most directly comparable GAAP measures because it would be too difficult to prepare a reliable U.S. GAAP quantitative reconciliation without unreasonable effort.

Aurora Expeditions Completes Largest Antarctic Season

Aurora Expeditions Completes Largest Antarctic Season

Photo credit Spacejunkie2 - Flickr photostream https://flic.kr/ps/GkiQt

Aurora Expeditions has completed its largest Antarctic season to date, operating 30 voyages, facilitating an estimated 819 landings and welcoming a 30 percent increase in expeditioners representing 56 nationalities, according to an announcement.

“This season represents a significant milestone for Aurora Expeditions,” said Michael Heath, chief executive officer at Aurora Expeditions.

“Delivering 30 voyages to Antarctica, including a return to East Antarctica, and operating three ships in the region for the first time reflects both our heritage and how we continue to evolve.”

The 2025-26 program included the launch of the company’s third expedition vessel, the Douglas Mawson, in Sydney in November ahead of its inaugural Antarctic season.

This was the first time in the company’s 35-year history that Aurora operated three ships simultaneously in Antarctica.

The season marked a return to East Antarctica after 15 years, alongside the introduction of Active Antarctica voyages featuring 14 included activities.

The Douglas Mawson reached 78 degrees 44.405 minutes south, marking the southernmost voyage in history, the company said.

Aurora also recorded 2,835 polar plunges, delivered 269 on board lectures and saw expeditioners contribute thousands of hours to on board citizen science programs supporting initiatives such as whale and seabird monitoring, oceanographic data collection and polar ecosystem observation.

The program introduced AI-powered routing technology and microplastic filtration systems to Antarctica.

The season also marked the introduction of drone-supported scouting used to assist bridge teams with real-time ice and landing site assessment.

 

Royal Caribbean Wants to Own Texas Market

Royal Caribbean Wants to Own Texas Market

Royal Caribbean Group has set its sights on the Texas cruise market.

“We’re expecting to own the Texas market as it relates to cruising into the Caribbean,” said Michael Bayley, president and CEO of Royal Caribbean International, speaking on the company’s first quarter earnings call April 30.

A new terminal that opened in 2022 in Galveston will now be supported by Perfect Day Mexico, Royal Caribbean’s destination development in the Gulf, which is expected to soft-open in the fourth quarter of 2027 before fully ramping through 2028.

The project had encountered a temporary pause due to environmental permitting issues, but Bayley confirmed on the call that those issues have been resolved and construction has resumed.

“All of that is now behind us,” he said.

When complete, Perfect Day Mexico will anchor what Royal Caribbean sees as a transformational combination of assets serving the Gulf and Texas markets: Perfect Day Mexico paired with Royal Beach Club Cozumel, expected to open in early 2028.

“The combination of the hardware, the brand and the destination, we believe, is going to be a massive accelerator for overall financial performance for the business,” Bayley said.

“(Texas) is a market which is much larger than Florida and its penetration rate is much lower than Florida,” Bayley said.

CEO Jason Liberty elaborated on the geographic reach the Galveston hub has.

“It’s also going to unlock, more potential in the West, really kind of west of the Mississippi,  as the cost to get to Houston and so forth is less than other parts of the country,” he said.

Adora to Take Delivery of New Ship Sooner than Planned

Adora to Take Delivery of New Ship Sooner than Planned

Adora Cruises will take delivery of its new cruise ship, the Adora Flora City, ahead of schedule.

Based on an agreement with Shanghai Waigaoqiao Shipyard, the vessel will be delivered on November 6, 2026, the company said in a press release.

The ship will then launch international routes from Guangzhou, the capital of South China’s Guangdong Province.

Adora’s CEO, Roger Chen, said: “We are now fully focused on the early delivery of Adora Flora City and on preparations for her launch.  We will continue to optimise the deployment, deepen our ‘Cruise + Culture’ strategy and refine the guest experiences, bringing fabulous cruise vacations to more travellers at home and abroad.”

After being floated out on March 20, 2026, the vessel has now fully entered the commissioning phase.

According to Adora, the overall construction progress has reached 96 per cent, with interior outfitting 87 per cent complete and commissioning work 76 per cent complete. At the same time, sea trials are set to follow in mid-May.

Chen added that the ship’s maiden voyage plan would be announced soon.

Norwegian Aura Floated Out at Fincantieri

Norwegian Aura Floated Out at Fincantieri

Norwegian Cruise Line (NCL) floated out the Norwegian Aura during a ceremony held on April 16 at Fincantieri’s shipyard in Monfalcone, Italy.

Now that the external hull construction is complete and the ship has touched water for the first time, work will continue on the ship’s interior development, according to a statement.

Said to be the largest vessel in company’s history, the ship is set to debut in May 2027.

“Norwegian Aura’s float out is a proud and meaningful moment for our entire team. She builds on the legacy of our award-winning Prima Class while taking our commitment to thoughtfully designed guest‑first experiences even further,” said NCL President Marc Kazlauskas.

“Created in close partnership with Fincantieri, the ship is purposefully constructed to deliver an elevated, multi‑generational vacation experience, with expansive outdoor spaces like Ocean Heights, that bring families and friends together for fun-filled days.”

Nearly 1,130 feet long and weighing approximately 170,000 tons, the ship will feature over 1,970 staterooms accommodating around 3,880 guests at double occupancy.

“Norwegian Aura’s float out marks a highly symbolic and operationally significant milestone in our shared journey with Norwegian Cruise Line,” noted Luigi Matarazzo, general manager of Fincantieri’s Merchant Ships Division.

“This vessel reflects the strength of a long-standing partnership and our ability to turn design vision and innovation into tangible solutions, helping to redefine onboard experience for future generations of guests.”

The Norwegian Aura will set sail on her maiden voyage on May 21, 2027, with a seven-day Mediterranean voyage departing from Trieste, Italy and calling to ports in Italy and Malta.

After that, she will embark on a 14-day transatlantic crossing to the United States.

Starting June 10, 2027, she will homeport in Miami and offer seven-day voyages to the Eastern Caribbean and Western Caribbean during her inaugural season.

Norwegian Sky Repositions to Europe for Farewell Season

Norwegian Sky Repositions to Europe for Farewell Season

The Norwegian Sky recently kicked off a repositioning voyage ahead of its farewell season for Norwegian Cruise Line.

Having completed its winter season in the Southern Caribbean, the 1999-built vessel departed from the Dominican Republic on April 6, 2026.

The 13-night trans-Atlantic crossing sails to Le Havre and includes visits to destinations in the British Virgin Islands, Portugal, Spain and France.

Ports of call set to welcome the Norwegian Sky include Tortola, Ponta Delgada, Lisbon, Vigo and La Coruña.

Once in France, the 2,000-passenger ship offers seven-night cruises to Northern and Western Europe between April and May.

Sailing between Le Havre and Copenhagen, the itineraries feature visits to ports in France, Belgium, the United Kingdom, the Netherlands, Germany and more.

In mid-May, the Norwegian Sky sails to the British Isles with a series of ten- and 11-night cruises departing from Southampton.

The itineraries will be offered through late August, when the ship repositions to the Mediterranean for a short season.

In addition to a repositioning voyage, the deployment includes a nine-night cruise between Barcelona and Piraeus in late August.

Sailing to destinations in the Western and Eastern Mediterranean, the itinerary is highlighted by visits to ports in France, Italy and Greece, such as Villefranche, Salerno and Santorini.

In early September, the Norwegian Sky is set to offer a final cruise before being handed over to Cordelia Cruises.

The 21-night cruise sails from Piraeus to Dubai and features a transit of the Suez Canal, in addition to visits to a range of destinations in the Middle East and the Red Sea.

As part of a deal announced in April 2025, the ship will be leased to Cordelia Cruises, launching cruises from Mumbai in September 2026.

In late 2027, the Norwegian Sun is also scheduled to join the fleet of the India-based cruise line, which currently operates the Empress.

Cruise Industry 10-Year Timeline: 50+ Million Guests, 20% Growth

Cruise Industry 10-Year Timeline: 50+ Million Guests, 20% Growth

The global cruise business is on course to grow at least 20 per cent between 2026 and 2036, with big new ships driving growth to an estimated 50 million guests, according to the 2026 Cruise Industry News Annual Report.

That is compared to just over 23 million guests 10 years ago, and an estimated 39 million this year.

The bulk of the growth is coming from the industry’s major players, which have numerous new large ships on order, including Carnival Cruise Line, Royal Caribbean International, MSC Cruises, Norwegian Cruise Line, and Disney Cruise Line.

Together, these five brands have 34 ships on order, totalling just over 150,000 new berths.

The most growth is coming from MSC, with 10 newbuilds set to debut. The new ships from the industry’s fastest-growing will include more World-class vessels built in France, and an entirely new class of vessel set to be constructed in Germany at Meyer Werft.

Norwegian Cruise Line is close behind with eight ships on order, adding more than 36,000 berths through 2037 as the brand continues to scale its large-ship fleet at Fincantieri in Italy.

Royal Caribbean International has six newbuilds scheduled, building on the success of its Icon-class platform with additional vessels from both Meyer Turku in Finland and Chantiers de l’Atlantique in France.

Carnival Cruise Line has five ships on order totalling nearly 30,000 berths, with new tonnage coming from both Meyer Werft and Fincantieri.

Disney Cruise Line, meanwhile, is accelerating its own expansion with five ships set to debut through 2031, more than doubling its current fleet size and extending its reach into new global markets.

The combined orderbook across all cruise lines stands at 78 ocean ships valued at approximately $80 billion, reflecting the industry’s confidence in sustained long-term demand.

 

 

Three Royal Caribbean Ships in Drydock at Same Time

Three Royal Caribbean Ships in Drydock at Same Time

Three ships in the Royal Caribbean International fleet are currently undergoing drydocks in Europe and Asia.

While two vessels are also getting significant updates as part of the company’s Royal Amplified refit program, a third is undergoing routine maintenance.

As previously reported by Cruise Industry News, the Ovation of the Seas was the first of the brand’s vessels to enter drydock recently.

The Quantum-class ship is currently in Singapore to undergo major refurbishment work that includes a series of enhancements and updates.

The project is highlighted by the expansion of the ship’s Casino Royale, as well as the introduction of new dining venues and features.

Other changes coming to the 2016-built vessel include the addition of 40 new staterooms, which will take over areas that were previously occupied by public and technical rooms.

The Ovation is scheduled to welcome guests back on April 17, 2026, kicking off a repositioning voyage to North America.

As part of the Royal Amplified program, the Harmony of the Seas is also getting updates at a shipyard in Spain.

The Oasis-class ship arrived at the Navantia shipyard in Cadiz in early April for a refurbishment that will see the addition of the fleet’s largest casino.

Other changes include the addition of new specialty restaurants, as well as a refreshed solarium and pool deck.

The 227,625-ton vessel is scheduled to resume service on May 21, 2026, ahead of a spring season in the Mediterranean.

After crossing the Atlantic in March, the Odyssey of the Seas became the latest Royal Caribbean ship to enter drydock.

The 2021-built vessel is presently at the Chantiers de l’Atlantique shipyard to undergo routine maintenance.

Set to spend the summer sailing in the Eastern Mediterranean and the Aegean, the ship welcomes guests back on April 16, 2026.

As part of the Royal Amplified program, a fourth ship, the Liberty of the Seas, is scheduled to enter drydock later this month.

MSC Removes Visits to Tracy Arm Fjord in 2026

MSC Removes Visits to Tracy Arm Fjord in 2026

MSC Cruises is removing Tracy Arm Fjord from the itineraries of its inaugural season in Alaska, which is scheduled to start in May.

According to a statement sent to booked guests, the MSC Poesia will now visit a different glacier in the region.

“Unfortunately, we are unable to proceed with the planned navigation around the Tracy Arm Fjord, as current ice conditions and geological instability prevent safe navigation in the area,” the company explained.

“Since your safety and comfort are our top priority … we are pleased to offer you an alternative and equally enriching experience: you will navigate around Endicott Arm, a beautiful nearby fjord renowned for its spectacular scenery,” MSC added.

According to the company’s revised itinerary, the MSC Poesia is also set to offer scenic cruising at Dawes Glacier.

“Although this change is due to reasons beyond our control, we sincerely apologize for any disappointment this may cause,” MSC added.

As part of MSC Cruises’ maiden season in the region, the MSC Poesia is scheduled to arrive in Seattle on May 11, 2026.

Sailing from its new summer homeport, the 2008-built vessel is poised to offer a series of seven-night cruises to destinations that include Ketchikan, Icy Strait Point, Juneau and Victoria.

The season runs through late September, when the ship is scheduled to embark on a repositioning cruise to Florida.

Joining MSC’s lineup in Miami, the MSC Poesia offers a series of ten- and 11-night cruises to the Southern, Western and Eastern Caribbean during the 2026-27 winter season.

In related news, Carnival Cruise Line also announced plans to remove visits to Tracy Arm Fjord from its itineraries for the upcoming summer.

With three ships sailing in the region, the company replaced the visits to the glacier with scenic cruising at Endicott Arm Fjord.

Royal Caribbean Swaps Ships for 2027 Season in Southampton

Royal Caribbean Swaps Ships for 2027 Season in Southampton

Royal Caribbean International confirmed that the Freedom of the Seas will replace the Mariner of the Seas for the 2027 season out of Southampton.

As previously reported by Cruise Industry News, the Freedom was expected to serve the British market after having its deployment for the timeframe cancelled.

Originally set to offer itineraries from Miami during the summer of 2027, the 3,960-passenger vessel is slightly larger than the Mariner and entered service in 2006.

According to statements sent to booked guests, the Freedom will offer cruises departing from Southampton on the same dates as the Mariner.

Some of the original itineraries were reportedly adjusted, with selected ports of call being changed or dropped.

Sailing from its new homeport, the ship will offer a series of cruises to Northern and Western Europe between May and October 2027.

“As part of our ongoing itinerary planning process, which sometimes requires flexibility due to scheduling, port agreements or operational needs, the Mariner of the Seas will be redeployed for our summer 2027 season,” Royal Caribbean said in its statement.

“We know how much effort goes into planning your vacation and apologise for the inconvenience,” the company added.

Passengers are being offered three options, which include moving their reservations to other cruises in the company’s portfolio.

In this case, the company will waive the non-refundable deposit change fee, but guests will be responsible for any price difference.

Royal Caribbean will also allow passengers to cancel their reservations and receive a full refund of any portion of their cruise fare.

Guests who do not wish to cancel or reschedule will be automatically moved to a like-for-like stateroom onboard the Freedom of the Seas.

While Royal Caribbean did not confirm a new deployment for the Mariner of the Seas, the ship is now set to offer a trans-Atlantic crossing to the Mediterranean ahead of the summer of 2027.

The 17-night repositioning voyage sails from New Orleans on April 24, 2027, and features destinations in Morocco and Spain before ending in Barcelona. Ports of call set to be visited include Casablanca, Tangier and Málaga.

Cordelia: International Guests’ Interest in India Grows

Cordelia: International Guests’ Interest in India Grows

“Over the next two years our focus is on refining and redistributing capacity rather than reinventing the network. Lakshadweep remains a core part of our offering and continues to be one of our most popular destinations,” said Jurgen Bailom, CEO at Cordelia Cruises, which goes from one ship this year to three by the end of 2027.

This year, the Empress will introduce new international itineraries from Kochi, including a five-night Malé and Colombo cruise, alongside a two-night high-seas weekend cruise.

“From Chennai, we will operate five-night Sri Lanka cruises, five-night Visakhapatnam and Puducherry itineraries, and open-jaw 10-night Southeast Asia sailings between Chennai and Singapore in July,” he said.

Heading to Asia

Looking ahead to 2027, the company plans to add more Southeast Asia itineraries with open-jaw seven-night sailings between Chennai and Singapore on the Cordelia Sky, which transfers from Norwegian Cruise Line later this year.

“These itineraries are designed not only for Indian travelers, but also for international guests,” said Bailom.

The Sky will take over the core itineraries currently operated by the Empress, initially sailing from Mumbai when she enters service in October.

“The intent is continuity, not disruption,” he added. “The Sky allows us to operate these high-demand routes at a larger scale, with greater capacity and more balcony cabins.”

The Sky is approximately 25 percent larger than the Empress.

“As our deployment evolves, the Sky will move to Kochi and continue operating the itineraries that the Empress has established there, while benefiting from the ship’s size, speed and operational flexibility,” Bailom said.

The Sun will join the Cordelia fleet in 2027, sailing from Mumbai. The Sky will then move to Kochi, and the Empress will shift to sailing from Chennai on a near year-round basis.

“This creates a balanced, multi-homeport network across India with both domestic and international itineraries.

“The speed capability of the newer ships provides greater flexibility to introduce additional ports from existing homeports,” Bailom said.

International Appeal

“We are seeing growing interest from international travellers who want to explore India and its surrounding regions without the complexity of multi-city travel,” Bailom explained.

“Weeklong itineraries such as Southeast Asia sailings, Sri Lanka routes and extended regional cruises allow us to position cruising as a gateway into India, rather than just a domestic holiday format.”

Bailom said that as of early 2026, the company was well into planning its 2028 deployment.

“Port infrastructure and operational reliability are the primary considerations,” he explained. “A successful itinerary delivers across multiple metrics and blends destination discovery with meaningful onboard experiences.

“We focus on creating well-paced journeys that offer a mix of marquee ports, leisure days at sea and immersive shore excursions, ensuring the overall experience feels enriching rather than rushed.

“From a long-term perspective, success also means repeatability. If an itinerary can be operated reliably across seasons and becomes easy for the trade to sell, it becomes part of the core network.”

Carnival Glory Offering Adults-Only Cruise in Europe

Carnival Glory Offering Adults-Only Cruise in Europe

Carnival Pride Photo credit Spacejunkie2 https://flic.kr/ps/GkiQt

The Carnival Glory is currently offering an adults-only cruise to the Canary Islands and the Western Mediterranean.

As part of Carnival Cruise Line’s SEA program, the 15-night itinerary departed from the Spanish port of Barcelona on March 25, 2026.

Before returning to the port, the European sailing is set to visit other destinations in Spain, as well as Italy and Morocco.

Highlights of the cruise include stops in Civitavecchia and Livorno, from which guests can embark on shore excursions to Rome and Tuscany, respectively.

The Carnival Glory is also scheduled to sail to Málaga and Tangier, as well as Las Palmas de Gran Canaria and Santa Cruz de Tenerife.

According to Carnival, its adults-only SEA voyages are casino-oriented cruises that feature expanded gambling access, themed parties, bingo events and more.

To get access to the sailings, passengers 21 years old and older need to sign up at a dedicated link to receive an offer to book.

Initially set to undergo a routine drydock in Europe, the Carnival Glory crossed the Atlantic in early March 2026.

With the shipyard stay cancelled, the ship is now set to start its return to North America after the SEA voyage.

Sailing from Barcelona in early April, the 13-night cruise sails to Spain, the United Kingdom and the Bahamas before arriving in Port Canaveral.

Ports of call set to be visited include Alicante, Málaga and Gibraltar, as well as Carnival’s Celebration Key private destination in Grand Bahama.

The 110,000-ton vessel is then set to resume its regular schedule of short cruises to the Bahamas on April 24, 2026.

Sailing from Central Florida on a year-round basis, the Carnival Glory offers three- and four-night cruises to Nassau and Celebration Key.

Carnival is operating additional SEA voyages in 2026, with ships like the Carnival Paradise offering the adults-only sailings through April.

New NCLH CEO: $1.7 Million Salary, Potentially $48+ Million in Stock

New NCLH CEO: $1.7 Million Salary, Potentially $48+ Million in Stock

Norwegian Cruise Line Holdings announced that it has entered into an employment agreement and restricted share unit award agreement with John W. Chidsey, its new president and CEO.

“His compensation structure is designed to immediately align his incentives with long-term shareholder value creation, with the majority of his long-term compensation delivered in performance-based equity,” the company said in a press release issued on Friday morning.

Under the employment agreement, Chidsey is entitled to an annual base salary of $1,715,000.

Beginning with the company’s 2027 fiscal year, he will participate in the annual bonus plan with a target annual bonus opportunity equal to 175% of his base salary.

For fiscal 2026, his annual bonus is fixed at $2.9 million, which is below his target annual bonus amount, with no opportunity to earn a higher payout regardless of performance results achieved.

The company said in an effort to encourage Chidsey to accept the job, he was granted a one-time target award of 2,139,892 restricted share units with an intended value of approximately $48 million.

The award was structured as a “front-loaded” grant covering four years of annual equity incentives and designed to provide him with a meaningful at-risk equity interest in the company that may be earned over the initial four-year term of his employment, the company said, in a press release.

When determining the value of Chidsey’s four-year “front-loaded” grant, the Compensation Committee reviewed annual equity grant benchmarks among the company’s peers to help establish a grant value intended to appropriately incentivize sustained shareholder value creation while maintaining a competitive compensation level, NCLH said in a press release.

Based on these considerations, the Compensation Committee determined that the annualized intended grant value of approximately $12 million was market-aligned and within the competitive range for similarly situated peers based on size and industry profile, appropriately encouraging Chidsey’s contributions over the next four-year period.

Consistent with the front-loaded structure, the Compensation Committee does not intend to grant Chidsey additional equity awards until 2030. Unlike other similarly situated executives, Chidsey’s employment agreement does not entitle him to participate in the company’s Amended and Restated 2013 Performance Incentive Plan or any successor equity incentive plan.

Additional information:

The approved award was delivered in a mix of a target number of 1,172,638 performance share units with an intended approximate grant date value of $28.8 million, which represent 60% of the total intended value of restricted share units and 967,254 restricted share units with an intended grant date value of $19.2 million, which represent 40% of the total intended value of restricted share units (the “RSUs”).

The RSUs will vest in four substantially equal annual installments on each of the first four annual anniversaries of March 1, 2026. The PSUs will be eligible to “cliff vest” at the end of a four-year performance period, but only if applicable absolute total shareholder return compounded annual growth rate (“TSR CAGR”) targets are achieved. If our TSR CAGR achieved for the performance period is: (i) less than 5%, none of the PSUs will vest, (ii) 5%, 50% of the target number of PSUs will vest, (iii) 10%, 100% of the target number of PSUs will vest, or (iv) 20% or more, 200% of the target number of PSUs will vest. For performance that falls between these milestones, the PSU vesting will be determined based on linear interpolation.

Chidsey must generally remain continuously employed through the date the performance targets are achieved in order to vest in any PSUs becoming earned based on performance, although the award agreement does provide for accelerated RSU and PSU vesting for certain qualifying terminations of his employment.

The company said the new employment agreement was approved by the Compensation Committee of the Board, in consultation with its independent compensation consultant, and is based on the same form of employment agreement that applies to other senior executive officers.

AIDAdiva Returns to Germany Following World Cruise

AIDAdiva Returns to Germany Following World Cruise

The AIDAdiva has recently returned to the port of Hamburg in Germany following AIDA’s 2025-26 world cruise.

After undergoing a major refurbishment as part of AIDA’s Evolution refit program, the vessel embarked on the voyage in early November 2025.

The AIDAdiva then visited 53 destinations in 27 countries before arriving back at its homeport on March 23, 2026.

Covering 35,000 nautical miles, the itinerary was highlighted by milestones for AIDA Cruises, including the company’s return to New York City following a six-year hiatus.

The cruise also marked the brand’s first visits to ports on the West Coast of North America, as well as in Japan and Hawaii.

The 2,030-passenger ship also spent New Year’s Eve docked in Honolulu during its first visit to the Aloha State.

Other highlights of the itinerary included AIDA’s first-ever transit of the Panama Canal, which took place on December 6, 2025.

Following the completion of its world cruise, the AIDAdiva is now set to offer summer cruises out of ports in Germany.

The ship’s schedule includes a series of four- to 14-night cruises to destinations in Scandinavia and the Baltic Sea.

Ports of call set to be visited include Vik in Norway, Visby in Sweden, Gdynia in Poland and Aarhus in Denmark.

In late August, the 2007-built ship is scheduled to reposition to North America for fall cruises departing from New York City.

The 12-night itineraries are highlighted by visits to destinations in Canada and New England, as well as Florida and the Bahamas, including Portland, Boston, Miami and Nassau.

In late October, the AIDAdiva sets sail to La Romana in the Dominican Republic ahead of a winter season offering cruises to the Southern and Eastern Caribbean.

AIDA’s next world voyage is scheduled to depart from Hamburg in mid-October 2026 onboard the AIDAsol.

The 126-night cruise will follow a different itinerary that will include stops in South America, the South Pacific, Australia, Africa and the Indian Ocean.

 

TUI Cancels Second Leg of Middle East Repositioning Voyage

TUI Cancels Second Leg of Middle East Repositioning Voyage

TUI Cruises cancelled an additional sailing due to the conflicts in the Middle East, according to a statement shared by the company.

With its vessels still stuck in the Arabian Gulf, the company is now cancelling a repositioning voyage that was set to take place onboard the Mein Schiff 4 starting on April 11, 2026.

The 20-night cruise was scheduled to sail between Cape Town, South Africa, and Palma de Mallorca, Spain.

Before arriving in the Mediterranean, the itinerary included visits to Walvis Bay in Namibia, Praia in Cape Verde, Gran Canaria and Arrecife in the Canary Islands, as well as Tangier in Morocco and Barcelona in Spain.

TUI had already cancelled the first leg of Mein Schiff 4’s repositioning voyage, which was set to sail from the United Arab Emirates to South Africa in late March.

With the latest round of cancellations, all the cruises set to take place onboard the vessel from Feb. 28, 2026, to April 11, 2026, will no longer go ahead.

As previously reported by Cruise Industry News, the company also cancelled the repositioning cruise forthe Mein Schiff 5 and all sailings set to take place onboard the ship between Feb. 28, 2026, and March 29, 2026.

“The primary objective now remains the safety and well-being of the remaining crew onboard the Mein Schiff 4 and the Mein Schiff 5,” TUI stated.

“In addition, the TUI Cruises crisis management team is working continuously and in close coordination with the relevant authorities, the German Foreign Office, the relevant embassies, international security experts and the security teams of its two parent companies on an ongoing assessment of the situation,” the company added, mentioning the resumption of the vessels’ regular itineraries.

In related news, Celestyal Cruises today announced the cancellation of an additional cruise itinerary in the Eastern Mediterranean.

Currently docked in Dubai, the Celestyal Discovery was initially scheduled to launch its summer season in Greece on March 20, 2026.

Royal Caribbean to bring another Freedom Class ship to UK instead of Mariner of the Seas next year

The 3,926-passenger Freedom of the Seas ship will replace the line's smaller Voyager Class vessel which has capacity for 3,114 passengers.

Royal said the change reflected "the continued strength of the UK and Ireland market".

"The move represents an upsizing of capacity and brings a Freedom Class ship – long regarded as a favourite among British and Irish guests – back to the region," the line added.

"Onboard vacationers of all ages can kick back and adventure at the resort-style Caribbean pool deck, enjoy The Perfect Storm duo of high-speed waterslides, a vibrant Caribbean poolscape, Giovanni’s Italian Kitchen, alongside reimagined spaces for kids and teens and more."

This year, Liberty of the Seas – a sister ship to Freedom of the Seas – will be based out of Southampton. Another Freedom Class vessel, Independence of the Seas, operated ex-UK cruises from Southampton last summer.

So Freedom of the Seas will be the third Freedom Class ship to be based in the UK in three years when it arrives here in 2027.

Aaron Langford, Royal Caribbean senior sales director UK & Ireland, said: “The UK and Ireland is an incredibly important market for Royal Caribbean, and as a result, we’re excited to announce that we'll be upsizing our Southampton deployment in 2027 with Freedom of the Seas following our long standing success here with this class of ship.

"Freedom Class has consistently resonated strongly with British and Irish guests, and following a recent amplification, Freedom of the Seas offers a fantastic mix of scale, innovation and guest-favourite features that deliver the ultimate family holiday."