Airlines have warned investors that travelers are becoming more flighty… and to brace for economic impact. But for cruise lines, it’s more of a ‘whatever floats their boat’ situation. This week, two of America’s biggest cruise operators reported earnings — and though there were flashes of concern, both held their course.

• Royal CaribbeanRCL
  went against the broader travel industry trend, hiking its outlook after taking record bookings in Q1 — along with an acceleration in spending and reservations year-over-year.
• At the same time, NorwegianNCLH
  missed on earnings but chose to reaffirm its 2025 guidance in spite of warnings about softening cruise demand and customer spending.

Let the cruising continue: These updates — paired with bullish reports from competitors VikingVKNG

and CarnivalCCL

in late March, could lead investors to assume that the cruise industry might dodge the same woes afflicting airlines like JetBlueJBLU

and LufthansaDLAKY

, or hotel chains like HiltonHLT

and MarriottMAR

. Still, with Booking HoldingsBKNG

crediting international travel as the driver behind its 9% YoY growth in travel spending, it’s tough to predict where consumer fears will surface next — especially with earnings season still underway.