Norwegian Cruise Line's net loss narrowed to $211.8 million last year as it undertook cost-saving initiatives, including redeployment of two of its three Hawai'i cruise ships to other markets.

The operator of a dozen cruise ships said the 2008 result compared with a loss of $227 million a year earlier.

The company said it was able to improve its financial performance during the year despite a challenging economic environment.

It reassigned the Pride of Hawaii from interisland cruises to Europe, where it was renamed the Norwegian Jade. Another ship used in interisland cruises, the Pride of Aloha, is now the Norwegian Sky and currently does cruises of the Bahamas from Miami.

"We worked diligently in 2008 to transform the company with successful implementation of a variety of measures and initiatives," said Kevin Sheehan, who was appointed chief executive in November after the company announced that Colin Veitch would be assuming an advisory role.

"The result is a new company, one that is extremely focused on customer service, financial performance and is well poised to come through this difficult period."

The company noted, though, that bookings during the first months of this year rose 15 percent compared with the same period a year earlier. It continues to operate interisland cruises here with the Pride of America.

NCL said 2008 revenue fell by 3.2 percent to $2.11 billion, less than the 3.7 percent decrease in capacity during the year.

The Miami-based company said the results include a one-time impairment charge of $128.8 million related to the cancellation of a ship-building contract.

If that cost is excluded, the 2008 net loss is $83 million.

NCL said the 2008 results also include an 18 percent increase in earnings before interest, taxes, depreciation and amortization.