Norwegian Cruise Line’s two new Breakaway ships boosted the company’s earnings during the first quarter of the year.
President and chief executive Kevin Sheehan said both ships commanded double-digit premiums over other Norwegian ships in the same itinerary.
In the first three months of the year, the cruise line’s net revenue rose almost 28% to $499.3 million, driven by a 23% increase in capacity, primarily due to the addition of Norwegian Breakaway and Norwegian Getaway to the fleet in May 2013 and January 2014, and a 3.8% rise in net yield, due to higher ticket prices and onboard spend and other revenue.
Sheehan said the cruise line was projected to boost its earnings by 60% for the full year. On announcing its first-quarter results, the company’s Board of Directors authorised a three-year, $500 million share repurchase programme.
