Viking Cruise Line is one of the most popular cruise lines in the world. It offers luxury cruises to some of the most exotic destinations in the world.
However, with the recent pandemic, many people are wondering if Viking Cruise Line is financially stable. In this article, we will take a closer look at Viking Cruise Line’s financial stability.
The History of Viking Cruise Line
Viking Cruise Line was founded in 1997 by Torstein Hagen. The company started with just four riverboats in Russia and has since expanded to include ocean cruises and over 70 riverboats around the world. Viking is known for its luxurious ships and exceptional service.
The Impact of Covid-19 on Viking Cruise Line
Like many other cruise lines, Viking has been impacted by the Covid-19 pandemic. The company suspended all operations in March 2020 and has yet to resume sailing. This has undoubtedly had a significant impact on their finances as they have been unable to generate revenue for over a year.
Viking’s Response to Covid-19
Despite the challenges posed by the pandemic, Viking has taken steps to ensure its financial stability. For example, they have raised $500 million in bonds from investors to help weather the financial storm caused by Covid-19. Additionally, they have offered flexible booking policies and refunds to passengers who had booked cruises that were canceled due to the pandemic.
Viking’s Financial Performance Before Covid-19
Before the pandemic hit, Viking was performing well financially. In 2019, they reported revenue of $1.8 billion and had over 400 thousand passengers sail with them that year alone. This success was due in part to their commitment to providing exceptional service and their focus on luxury cruising.
What Industry Experts Are Saying About Viking’s Financial Stability
While the pandemic has undoubtedly impacted Viking’s financial stability, industry experts believe that the company is well-positioned to weather the storm. According to Cruise Critic, “Viking’s strong balance sheet and loyal customer base should help them weather the storm of a prolonged pause in operations.”
The Future of Viking Cruise Line
Despite the challenges posed by Covid-19, Viking Cruise Line remains optimistic about its future. They have announced plans to resume sailing in May 2021 and have even launched a new ship, Viking Venus. Additionally, they have continued to invest in their ships and technology to ensure that they remain a leader in the luxury cruising industry.
Conclusion
In conclusion, while the Covid-19 pandemic has undoubtedly impacted Viking Cruise Line’s financial stability, they are taking steps to ensure their long-term success. With their commitment to exceptional service and their focus on luxury cruising, it is likely that Viking will continue to be a leader in the cruise industry for years to come.