Norwegian cruise giant Hurtigruten, with Petter Stordalen as the second largest owner, reports a large loss in the second quarter.
Hurtigruten's pre-tax profit for the second quarter amounted to minus 32.5 million euros, which corresponds to a loss of 334 million Swedish kronor. This compares to a profit of the equivalent of 180 million kronor in the same quarter last year, writes Dagens Næringsliv.
Revenue during the quarter plummeted to 31.4 million euros from 154 million euros in the same period last year.
”"Working in tourism during a global pandemic is very demanding. Travel restrictions have been tightened in Norway and all our most important markets, they are changing faster than before, more countries are going 'red' and for many, travel feels far away now," says CFO Torleif Ernstsen.
He adds that Hurtigruten is in a "far better position" than other cruise lines, and that travel for 2021 looks much better among both Norwegian and foreign guests.
Hurtigruten has been in a tough spot in its home country over the summer after a coronavirus outbreak on the ship MS Roald Amundsen. Among other things, Health Minister Bent Høie has criticized the company for not handling the outbreak properly.
Hotel magnate Petter Stordalen owns 12 percent of Hurtigruten, making him the second-largest shareholder. A Luxembourg-based company controlled by British venture capital firm TDR Capital is the main owner with 81 percent.
