More ships are being eyed by Lindblad Expeditions, which also enters the European river market in 2026 and will grow its operational footprint in 2027, said CEO Natalya Leahy.

“We continue to look for growth opportunities,” she said, speaking on the company’s second quarter earnings call.

“These growth opportunities don’t have to necessarily come through new deals. As you have seen, we just added capacity through adding National Geographic Gemini and National Geographic Delfina to our Galapagos program. Those are ships we acquired and rebranded and they are launched and serving our brand now.

“We’re looking across multiple different opportunities. Yes, we are considering potentially newbuild options as well, but that’s just one of many options we are considering to expand.”