Carnival Cruises sees a record booking

Friday, June 25, 2021

Carnival Cruises said that they has recorded a huge bookings which were up 45% in the second quarter compared with the first quarter as the cruise industry continues its recovery from the Covid-19 pandemic. The company also said its cumulative advanced bookings for 2022 are ahead of those from 2019.

However, Carnival reported an adjusted net loss of $2 billion for the second quarter of 2021. It expects a net loss on an adjusted basis for the third quarter and full year as well. The company’s monthly cash burn rate for the first half of 2021 was $500 million.

The company was able to raise $26.3 billion and was able to reduce future loan interest by $120 million per year through refinancing, Carnival Corporation President and CEO Arnold Donald said in an interview on CNBC’s “Closing Bell” on Thursday. Due to several outbreaks aboard cruise ships last year, the cruise industry was one of the last sectors allowed to resume operations.

The Centers for Disease Control and Prevention allowed cruises to return this year with strict safety protocols and requirements in place to prevent outbreaks from occurring onboard.

Carnival has resumed sailing or announced plans to resume sailing 42 ships from eight of the company’s nine cruise brands by the end of November this year.

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