The YouTuber states that Norwegian Cruise Lines is in an even worse position than Carnival due to its $13 billion debt. He argues that current interest rates mean they might not have any money left after interest payments, even if they return to 2019 operating levels.
“norwegian and royal caribbean are even even worse position their current interest rates may mean that even if they get back to 2019 operating levels they're not going to have any money left over after paying interest payments”