Norwegian Cruise Line Holdings: stretch the cash runway

Run the cash plan against the downside, then approve and carry out the cuts that make it last.

By OneShot · Updated October 23, 2026

Read the solution ↓

What the workflow produces

Cash runway plan

Cash base: Cash, facilities, debt due and committed spending, each dated.
Ranges: Low, likely and high cases per driver, with who set them.
Runway: Median and 5th-percentile months, with and without each action.
Actions: Approved actions, owners, deadlines and months gained.

The documented problem

On May 6, 2020, with its voyages suspended, Norwegian Cruise Line Holdings said it had raised more than $2 billion and expected to “withstand well over 12 months of voyage suspensions in a potential downside scenario.” It said the new liquidity alleviated management’s concern about its ability to continue as a going concern for the next 12 months.

On May 14, 2020, it reported first-quarter results under the heading “Well-Positioned to Withstand Over 18 Months of Voyage Suspensions,” with expected average monthly cash burn of about $120 million to $160 million and an approximately 65% reduction of non-newbuild capital expenditures. These are the company’s own estimates at the time. The OneShot workflow below forecasts cash runway across uncertain revenue and carries out the actions the forecast calls for.

Norwegian Cruise Line Holdings: first quarter 2020 resultsPrimary source · Checked 2026-10-23
Norwegian Cruise Line Holdings: over $2 billion of additional liquidity securedPrimary source · Checked 2026-10-23

The OneShot solution

Cash runway stretched past the downside case

Stretch cash runway past the board’s downside case, with each action that gets it there approved and under way.

What it pays back

Months of cash runway

Counted in months until cash reaches its minimum at the 5th percentile, before and after the approved actions.

Work enters the queue: A revenue shock, a monthly close, a lender covenant test or a funding decision.
Decision owner: Chief financial officer

01
Build the cash base
Read cash on hand, undrawn facilities, debt due, committed capital spending, monthly operating costs, bookings and refunds owed. Record the date of each figure.
- Cash and liquidity plan
02
Set the ranges
Ask each business owner, on a private request page, for a low, likely and high case: how long revenue stays stopped, what share of bookings cancel, and which costs can be cut by when. Record who gave each range.
- Cash and liquidity plan
03
Simulate the runway
The OneShot agent uses its prediction tool to run thousands of cash paths across those ranges and report the months until cash reaches its minimum, as a median and a 5th percentile. Each proposed action, such as deferring capital spending or drawing a new facility, runs as its own case.
- Predict
- Cash and liquidity plan
04
Get the actions approved
Give the chief financial officer the runway with and without each action, ranked by months gained. Record the approved set, its owners and the runway it targets, for the board.
- Cash and liquidity plan
05
Carry out and re-run
Give each owner its approved action and deadline on the goal’s request page, and chase each to done. Re-run the forecast at each monthly close on actual cash; a runway below target goes back to the chief financial officer with the next actions.
- Cash and liquidity plan

What counts as complete

The 5th-percentile runway meets the board’s target on approved actions, and each action is done or has an owner and a date.

Decisions and exceptions

Ranges come from the business owners; the agent does not invent them.
Financing, covenant and going-concern judgments stay with the chief financial officer, the auditors and the board.
An action that misses its date is re-run as not taken.

What to measure

Runway at the 5th percentile
Actual cash against the forecast range
Actions done by their date
Months gained per action

Establish the baseline and review period before launch. Compare completed cases, unresolved work and reviewer corrections against the same scope.

The agent’s tool basket

OneShot gives its agents the tools to analyze records, communicate, research and act on authorized business data. The platform carries the workflow from the first action through to the recorded result.

Cash and liquidity plan
Read cash, undrawn facilities, debt due, committed spending, operating costs and bookings; record the approved actions and the runway they target.