During the two years of the Covid pandemic, cruise lines lost approximately 80% of their pre-pandemic market capitalization, according to Redburn Atlantic.
Strong travel demand, particularly in leisure travel, is at the core of the improved pricing outlook for the cruise industry, according to Brignall.
Norwegian has faced partcular challenges thanks to its status as a high-end cruise line with an older customer base, and "more complex, longer cruise product."
As a result, the company has been hurt more than other cruise lines by sailing restrictions, but Brignall expects that headwind to get better soon.
Both shares have surged this year thanks to the continued recovery in leisure travel, with Carnival climbing 93% and Norwegian by 39%.
Persons:
Alex Brignall, Brignall, headwind, Josh Weinstein, — CNBC's Michael Bloom
Organizations:
Cruise Line
Locations:
U.S, Norwegian, Europe