Struggling Norwegian Cruise Line faces turnaround effort as activist investor reveals 10% stake

Activist investor Elliott Investment Management on Tuesday revealed it has built up a more than 10% stake in Norwegian Cruise Line and plans to launch a turnaround effort at the struggling ship operator.Norwegian – the world’s fourth-largest cruise operator by number of passengers worth roughly $10 billion – has lagged behind fellow mass-market rivals like Royal Caribbean and Carnival, even as consumer demand has rebounded in the years following the pandemic.Elliott, which has led ambitious activist campaig ...