Feb 16 (Reuters) – Activist investor Elliott has built a more than 10% stake in Norwegian Cruise Line and plans to push for changes within the cruise operator, the Wall Street Journal reported on Monday, citing people familiar with the matter.
Shares of the company were up about 6% in premarket trading on Tuesday. The stock fell more than 13% in 2025.
Reuters could not immediately verify the WSJ report.
Norwegian Cruise Line did not immediately respond to Reuters’ request for comment.
The Miami, Florida-based company has been struggling to cope with cost pressures and tepid demand for its sea voyages, even at a time when rivals such as Royal Caribbean and Carnival continue to benefit from strong demand and higher ticket prices.
Last week, Norwegian Cruise appointed former Subway Restaurants CEO John Chidsey as its new boss, replacing Harry Sommer.
The company previously said that it expects its fourth-quarter profit, due to be released later this month, to come in below expectations.
Rival Royal Caribbean, however, in its outlook released last month projected strong demand, as affluent customers continue to favor sea-based vacations.
Elliott has privately approached Adam Goldstein, the former president and COO of Royal Caribbean, as a potential nominee for a board seat at Norwegian Cruise, the WSJ reported on Monday.
Elliott aims to improve both Norwegian Cruise’s financial performance and guest experience, the report added, noting that the activist views rival Royal Caribbean as having executed well on both fronts and believes Norwegian Cruise has previously delivered a strong turnaround.
(Reporting by Ananya Palyekar in Bengaluru; Editing by Sherry Jacob-Phillips)
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