Health Care

Carnival suffers $2.2bn loss in fourth quarter

Carnival suffers $2.2bn loss in fourth quarter”

The coronavirus has been devastating for the cruise industry, which had expected to welcome 30 million passengers worldwide in 2020. Carnival said the bookings were achieved with little advertising and that this demonstrated the long-term popularity of cruises.

Carnival Corporation on Monday reported a U.S. We took aggressive actions to implement and optimize a complete pause in our guest cruise operations across all brands globally, and developed protocols to begin our staggered resumption, first in Italy for our Costa brand, then followed by Germany for our AIDA brand.

The company has been trying to rejuvenate the fleet throughout its separate cruise brands lately.

Miami-based Carnival said it is working on resuming cruises in Asia, Australia and the USA over the course of this year. Carnival Cruise Line, the company's biggest brand, has cancelled all US sailings through March 31. That said, at December 20, 2020, cumulative advanced bookings for the second half of 2021 are within the the company's historical range.

Carnival warned that in both the first fiscal quarter of 2021 and the entire fiscal year ending November 30, it expects to make a net loss.

In the quarter ended November 30, the net loss of the world's largest cruise operator, Carnival, hit $2.2 billion, according to provisional statistics on the company's website. The adjusted net loss amounted to $1.9 billion. That compares to earnings of $427 million in the same period the year before.

Carnival is funding operations with a mix of loans, equity offerings and other financial transactions.

More news: Fourth-tier Crawley Town dump Leeds out of FA Cup

The company said it is still exploring opportunities for shrinking its monthly cash burn rate.

To raise cash and bring its fleet in line with anticipated demand, Carnival has accelerated the removal of less efficient ships.

Instead of the 18 ships that were previously reported to be sold or scrapped, the company says it will be getting rid of 19 vessels.

"The company now expects to dispose of 19 ships, 15 of which have already left the fleet".

Carnival is also adding fewer ships than planned to its fleet.

Carnival will now only take delivery of one more new cruise ship in 2021 out of five that were originally scheduled for delivery.

Carnival expects a phased reentry for their cruise ships throughout 2021.



Like this

loading...
loading...

Latest


11 January 2021
Fire crews tackle large blaze at Ireland's Port of Cork
Earlier the association wrote: "The Port of Cork have advised that all residents keep their windows and doors closed". Smoke from the fire at Cork Port yesterday morning. "Emergency services remain on site to monitor the area".

11 January 2021
Police officer hailed for steering U.S. Capitol mob from Senate chamber
It is not clear if his death was linked to the riots, during which five people, including another Capitol police officer, died. The death of Officer Howard Liebengood , who was on duty during the attack, was announced Sunday.

11 January 2021
Mark Lawrenson states his prediction for Man United v Watford
Rashford should have put the seal on the win, but his low effort after a fine run was too close to Bachmann. Paul and Eric didn't do all of it, but Luke and Victor did all of it.

11 January 2021
Florida man photographed carrying Speaker's lectern in US Capitol riot arrested - global
Efforts by Reuters on Saturday to reach his relatives were unsuccessful, as were attempts to contact Johnson's family. Department of Justice on Friday as having been already charged in federal court for their alleged roles in the riot.

11 January 2021
HP launches new Dragonfly laptops, features 5G and in built Tile tracking
HP will offer 1080p and 4K display options for the HP Elite Dragonfly G2 , while the Max is only available with a 1080p display . HP has thus transitioned the 13.5-inch Elite Folio laptop from a statement PC to one designed more for practicality.

11 January 2021
Lessons from the Ravens' win over the Titans
Trailing 20-13 in the final minutes, Tennessee's last chance to come back ended when Marcus Peters intercepted Ryan Tannehill . If the Browns win, the Ravens will play the Bills, but if the Steelers win, the Ravens will take on Kansas City.

11 January 2021
NYS COVID-19 hospitalizations down to 8,484, positivity rate 6.22 pct: governor_china
Vaccine eligibility in NY was initially limited to health care workers and residents and staffers at nursing homes, but Gov.

11 January 2021
Death toll due to landslides rises to 13 in Indonesia
Rescuers worked into the night but faced an urgent need for heavy machinery to help move earth and reach any possible survivors. The second landslide occurred as rescuers were still evacuating people following the first disaster.

11 January 2021
Lyon SD Juninho confirms Moussa Dembélé wants to leave
Keeping someone who does not really want to live in an intense way through the next five months, that is not ideal. Atletico Madrid and Lyon have struck terms for striker Moussa Dembele .

11 January 2021
Virat Koli and Anushka Sharma are now parents to a baby girl
The Bollywood actress-cum-producer and Team India captain Virat Kohli are expecting their first child later this month. On their third wedding anniversary on December 11, Anushka Sharma had cutely reminded Virat that they will soon be 3.