Norwegian Cruise raises profit outlook betting on higher prices

Company, which mostly caters to the affluent, has been raising prices of its tickets to offset the impact from higher costs of fuel and food

The massive Norwegian Breakaway cruise liner berthed in Cobh. Picture: Dan Linehan

Norwegian Cruise Line has raised its annual profit forecast and sailed past first-quarter estimates, betting on higher prices, pent-up demand and robust onboard spending from wealthy customers, sending shares of the company up 5%.

Easing of pandemic protocols on ships after long periods of restrictions has encouraged people, especially from the higher income group, to go on leisure travel while also boosting spending on various onboard facilities from casinos to spas.