Carnival Corporation Reports $2.4 Billion Loss in Second Quarter

Demand for cruises is likely to be sharply lower for at least the rest of 2020. File Image / Pixabay

Cruise operator Carnival Corporation has reported a loss of $2.4 billion for the second quarter as the COVID-19 pandemic shut down large parts of its business.

The loss compares with a profit of $457 million for the same period of 2019, the company said in an earnings release this week.

“The company expects to resume guest operations, after collaboration with both government and health authorities, in a phased manner, with specific ships and brands returning to service over time,” it said the statement.

“The company anticipates that initial sailings will be from a select number of easily accessible homeports.”

Carnival plans to accelerate the removal of ships this financial year which it had previously planned to sell over the next few years, it said. Over the next 90 days six ships will leave its fleet.

Leave a Reply