everyone. you, Frank and good Thank morning
aren't the call. how Instead, for cruise scenario unlikely revenue focus as yield has COVID-XX our our not impact remarks focus I will over significant I positioned Given months plan and on not believe my costs, typical relevant. execution these the in a will swift and of earnings will net withstand we an development action company quick be zero or and our of on financial to business, on we've simply XX environment. had metrics today an today growth
securing four-point include, our The profile reducing cash increase expenditures, our protect improving to reducing Slide key focus to expenses, plan, quickly X capital. areas operating additional action maturity business. we and of conserve which illustrates and the four capital implemented debt
X. reduction with We shipboard levers members work near-term of focus week significant deployed or July employees let's and shoreside operating XX% shoreside of expenses. for a and furlough deferment First, team of expenses, slide a to reduction XX% several savings of operating salary XX. expenses on both SG&A the approximately included introduction the commensurate on shortened a reduce through marketing
our especially actions team were difficult. These members affecting
to the process layoffs, of benefits. continuing allows unlike team members However, receive furlough employees to impacted the company, while remain
team until we was do our during support committed It addition, welcome them period. can of back. members' the to medical we our least we the impacted team insurance to In covering furlough share premiums could
as crew you such XXth, payroll, fuel, As food, for on slide can reduced operating port cruise as expenses meaningfully voyages shipboard with charges. through expenses June X we and suspended see
to manning around through restrictions. the repatriate our our levels reduced continue back crew transitioned of ships their countries, we we As challenges to working lay-up, to and travel cold home majority global
that maintenance On prolonged two expense savings a provided a two a operating further cold scenarios warm scenarios; administrative under fuel reduction ongoing skeleton monthly of the operating slide between further is XX, difference costs. is and lay-up and lay-up. and lay-up primary to cold to other crew The expenses repairs staffing a around and with lay-up we ship and a details
approximately million All warm ships lay-up of to scenario per scenario. in cold $XX month per all a a have million reduced the and cost-saving lay-up with significantly approximately measures month operating implemented $XXX of expense our in
our majority lower the lay-up, transitioning to of end towards cold With of moving the ships range. that are we
identified approximately Non-new build XXXX million remainder We were XX. Shifting of million. $XXX to slide $XXX in by capital for the almost expenditures approximately on reduced capital expenditures reductions. or XX%
CapEx-related We approximately are finalizing of March build also million XXXX. documentation defer $XXX through XX, due payments to new
XXXX the the remainder CapEx million be approximately and now which Total will including spent expected be of throughout million, to for new both is non-new build approximately build $XXX $XXX of year.
to Splendor CapEx was quarter Seven First Norwegian of the revitalization Spirit. due the and Seas delivery whole of elevated
look from forward, with resulting commitments benefiting are could be scheduled mid-XXXX, until we we As also from capacity shipyards. growth moderate extended given CapEx near-term delayed no closures for additions at delivery new capacity which lower
Given XXXX uncertainty, guidance at for this providing XXXX CapEx time. continued are the not we and
and profile the was payments focus key of our extension in maturity deferral our improving debt action through Another maturities. amortization plan of the
are testing documentation covenant the provides with other eight export following with Hermes, XX relief Approximately XX, slide of on payments amortization see able amortization this also we balance and and in XX-month semiannual initiative currently with advantage export holiday ECA be repaid an over of finalized This Germany months lenders. debt been credit for total evenly credit can four agencies installments. to debt the expect you all for postponed by took initiative $XXX approximately March million to $XXX agency through we our industry-wide the finalizing we granted be to of and XXXX. million As already financial has years XX, defer
commercial a to bringing total payments, XX-month of for million addition, approximately In agreed to amortization approximately $XXX lenders debt also our deferrals of $XXX holiday aggregate million. our payments
contractual XXXX us with to by one We as well also March option maturity extending with a extended our amortization by maturity January These debt term our loan to maturity XXXX. of $XXX million by maturities actions credit one debt Pride facility profile extend as year exercising new revolving America the year leave significant our XXXX. million coupled to deferrals $XXX no through meaningfully
COVID-XX. new untapped to slide $XXX outlined On on response and billion both $XXX million measures XX, In revolver. a liquidity over and new million of that to drew down $X in multiple subsequently our we existing March, revolver we we capital secured the took and secure quickly
a resulted transactions Significant exchangeable options oversubscribed the week last and demand transaction Just across times this Sachs. series for we in for three fully excess by shares of market successful the greenshoe demand did being the only over. Goldman Not capital completed ordinary led also highly many executed we were capital raise both offerings, the have notes.
a billion to proceeds, from As upsized gross extending financial significantly approximately liquidity $X billion was the strengthening our transaction and result, our runway. $X.X position of
We extremely the capital place. this transaction in team's this execute of to are with of pleased sheltering are extremely the result adaptability raise complex proud and while
XX over believe environment. in provided are an XX, unlikely well Slide have we X liquidity to Turning how a we to shows withstand revenue an of illustrative we scenario positioned months that runway
capital of is the transactions post end. market liquidity billion forma quarter pro approximately as $X.X Our
end of advanced voyage refund. approximately $X.X $XXX of where full requested just sales June a slightly to To-date cancellations the cruise a XXXX value-add the to cash through remainder we of cash quarter related can future of billion credit refund. half first choose over have under guests a accept million or XX ticket the At had including for guests
of For advanced we the of million have remainder XXXX, books. sales the $XXX on approximately ticket
liquidity all refunded. roughly deposits sailings customer assuming $X.X half the billion Our net of in for are XXXX is approximately
month. range decrease Our is and burn $XXX a in to in cost cash have conservation our of resulted which $XXX million expected reduction per monthly to cash be measures million significant the now rate to
expense to refunds inflows This financing expected both cash debt next from includes month associated per XX This and cash week refinancings new burn over and financing last which be secured approximately with and $XX is million rate cash existing new months. excludes additional bookings. the
which cash XX have prolonged our management's do months measures over The believe not can and XX you about and media some going accounting to we months requirement taken liquidity next X as reduce company's which extended to the As context simply significant scenario in recent that capital conserve concern is revenue that we a week. significantly runway see, -- the and expect. costs concern we slightly environment attention is a received the out alleviated to of ability technical last for a reporting continue raise
we impairment also impacted modified cruise the loss goodwill by to focus COVID-XX. impact was financial quarter canceled non-cash results, billion the Not Shifting only our did related $X.X from the a first and names. and significantly to we recorded feel voyages, trade
voyages related of In in loss addition in the reduction fuel million a consumption consumption driven through $XX portfolio an a portion the fuel income in forecasted flows our hedge and canceled resulted to other line. reduction to by fuel approximately due
net recorded basis we GAAP billion U.S. of $X.X result, a $X.XX a As on loss per share. or a
guidance. certainty the quarter impacts cannot evolving on pandemic, we results rapidly year operational the will given ahead and impact from full Looking providing with business estimate our or the the second be or and financial longer-term not therefore
not quarter GAAP to basis XX a expect U.S. and traditional ending XX adjusted year ending are guidance the we and report for on loss both December net providing the a While XXXX. do June we
our Frank, Before to the to returning impacts want stronger weather of on I the call COVID-XX the confidence and other our in to side. emerge back reiterate ability
what doing resources focus Line team strong liquidity us stakeholders members the voyage while Cruise our suspension, for long team our guests, the Holdings to of ample to partners for other Norwegian is on Our gives the travel prolonged at term. brands protecting crew absorb allowing equity position and a right
has so in confident our past business are its again. the in demonstrated believe repeatedly will it which we resilience Lastly, do and model
response the our next to to discuss call commentary. and closing hand Frank COVID-XX to some I'll back that of provide over phase With
