valueinvestor Posted March 17, 2020 Share Posted March 17, 2020 From an earnings perspective - these are incredibly cheap - trading around 2008 levels. The only question is from a liquidation perspective are they cheap? They are trading 0.4-0.7 P/B and if that's the case, I'm sure we would be able to make a meager profit, if it goes to bankruptcy too? Unless, the cruise ships are worth half of their recorded value net of depreciation, then we get zero. However I think the lenders will definitely not want these cruise lines to go bankrupt, as they are the #1, #2, #3 players in the world, hence they will lend and extend the maturities, not that it's needed for RCL or NCHL. Link to comment Share on other sites More sharing options...
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