Carnival loses $2.1 billion waiting for cruising to resume

[Omaha Steve]

Source: AP

MIAMI (AP) — Carnival Corp. said Thursday that it lost more than $2 billion in its latest quarter as the company’s cruise lines remained mostly shut down by the pandemic, but it said bookings for next year are running ahead of 2019′s pace.

Shares of the Miami-headquartered company fell 2.5%.

The cruise industry was a visible early victim in the pandemic, as passengers and crew members tested positive for COVID-19 and some ships were turned away from ports. The industry has battled the U.S. Centers for Disease Control and Prevention over health requirements for resuming sailing in U.S. waters.

CEO Arnold Donald said the company has long known that 2020 and even early 2021 “would be choppy, but the path and the trend is clear — there is pent-up demand” that is showing up in booking numbers.



FILE - In this Wednesday, May 12, 2021, file photo, the Carnival Cruise ship "Liberty" is docked at Port Canaveral, Fla. Carnival Corp. continues to lose billions while it waits for cruising to recover from the pandemic. Carnival said Thursday, June 24, that it lost $2.1 billion in its latest quarter. (Joe Burbank/Orlando Sentinel via AP)


Read more: https://apnews.com/article/fl-state-wire-health-coronavirus-pandemic-business-aa84e4b26bc3cc0dec84bb2ff894edab

[kimbutgar]

1. They will lose more if they leave out of Miami with unvaccinated passengers

It will be a Petri dish of death 💀 courtesy of Desatan.

[Stallion]

2. The Fact is These Cruise Lines Were Not Prepared to Resume Cruises.....

despite Florida's blowhard Governor--they have logistical issues, government and crew issues far greater than the CDC-and the thought they could have resumed cruises at all would have been unreasonable until recent months when the vaccine beat down cases and deaths. Even today, the cruise lines are cancelling the vast majority of their sailings because they themselves are not ready regardless of CDC oversight. To their credit their criticism of the CDC has been rather restrained-they didn't intervene in the Florida lawsuit. It would have been a disaster if cruises resumed earlier this year without major restrictions. The vaccine rollout has made resumption of cruises possible but only with reasonable precautions-the most important of which is that 95% of their passengers will be vaccinated. Note there are only sporadic cruise sailing internationally despite the fact the CDC has no jurisdiction over such international cruises.

[MiniMe]

3. I wouldn't dare get on a cruise at this point

And if I did take the chance, I'd want to know that the all the workers were vaccinated.

[Stallion]

4. I Would Only a Cruise Line Requiring 100% Vaccinations of Passengers and Crew

like Norwegian Cruise Line and others- that's better odds than on the mainland-plus these ships are only cruising at 30% right now although % will go up in coming months. Plenty of room for distancing right now. Most passengers polled prefer 100% vaccinations.

[lark]

11. if Norwegian sails out of FL, they can't require vacinnations.

Death Sentence decreed this so conservaidiots feel free to continue their idiotic ways and endanger themselves and others, even vacinnated people with immune issues. For some reason he doesn't care if they die, as long as they give him and other right wingers their $$ while alive.

[Mz Pip]

14. Viking is doing that.

We got a promotion for their first cruise. It goes around Iceland. Iceland is open to vaccinated people and. Viking is requiring all guest and crew to be vaccinated and also wear masks in indoor areas. I was tempted but decided to wait a bit longer to see how these initial cruises fared.

[Warpy]

7. Florida's blowhard governor can't dictate company policy.

If he tries, they'll just find some more reasonable state to sail out of.

The hiatus might be a blessing in disguise, all the nasty norovirus lurking in cracks and crevices might be no more and cruising will be enjoyable again for people who were sensible enough to get vaccinated against Covid.

[lark]

12. They don't have nearly enough ports elsewhere.

The largest cruise port in the world is in Miami and there are large ports all over the state. Even Jacksonville is home port to several Carnival ships. There's vacancy for one 1 line in NO, that's not enough to change the situation. I know Norwegian sails out of Miami because that's where I took my first cruise. Now, they probably have ships in other ports too, so maybe those ships will require proof of vacinnation, even though they can't in FL.

We love cruising too, but not going to do it this year. When/if we do, it will either be river cruising in the NE or Europe, won't be going to the Caribbean, Mexico, South America or Central America.

[Warpy]

16. And Disney sails out of Titusville

Not all ports are the same and the cruise ships, while big, don't require the facilities of the largest container ports that service Maersk and Evergreen. Cruise ships have a much wider choice of facilities. What they need is to build infrastructure for loading and offloading people without making them feel too much like pigs or cattle.

I'm with you on the river cruises rather than ocean cruises in the southeast.

[groundloop]

9. Flame alert !!!!! - I enjoy cruises, and was on the ship in the photo (The Liberty) 2 1/2 years ago.

Carnival is resuming cruises in July, starting with just one ship on July 4th and phasing in 4 others throughout the month. They'll be phasing in more ships in the following months, I read that they'll have half of their fleet in service by November, so it's going to be a slow process.

As someone stated, for at least the first two months they're requiring 95% of passengers to be vaccinated, and that could very well carry on beyond August. The 5% unvaccinated will be children who aren't yet eligible for the vaccine.

They've pretty much told DeSantis to go fuck himself when it comes to "vaccine passports", they're requiring that passengers show proof of vaccination before being allowed to board. Anyone who shows up without proof of vaccination will be sent home with no refund.

[oldsoftie]

5. And yet their stock is still over double from last yr. nt

[WA-03 Democrat]

6. Logic

Or a CASINO?

I hate the stock!

[Gore1FL]

8. I bought some before the pandemic by a few months.

I bought it for the dividend it doesn't have any more. It has yet to return to my cost basis.

[oldsoftie]

10. That would've been my luck too.

I know some who bought when it tanked because they said "this wont last forever". The business is still in the crapper but those folks are way up.
If I would've bought, they would've been bankrupt by now!

[madville]

13. I bought 100 shares months ago

Also have Royal Caribbean and Norwegian stock. I’m up about 30% on them and will probably sell after the start cruising again and get a big bump. It’s in a Roth so easy to buy and sell with having to pay taxes.

[Dawson Leery]

15. My Royal Carribean stock doubled,

with that said cruises still are not safe.