April 27, 2020 / 1:42 PM / a month ago

Norwegian Cruise withdraws forecast, to cut $515 million in spending

April 27 (Reuters) - Norwegian Cruise Line Holdings Ltd on Monday withdrew its 2020 forecast and said would cut spending by about $515 million, as the cruise operator struggles to save cash amid the coronavirus pandemic that forced it to extend suspension of its ships to June 30.

The company also withdrew its forecast for the first quarter, joining peer Royal Caribbean Cruises.

Norwegian Cruise Line estimates its cash burn to be about $110 million to $150 million per month as suspension of its three brands continues.

Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli

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