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Carnival says it lost $ 2 billion on 1Q, but bookings have risen

Cruise giant Carnival Corp. said on Wednesday it had lost $ 2 billion in the first quarter as its tourism hub closed in much of the world due to the epidemic.

Barekendan, however, said that bookings have recently started to increase, և 2022 could be a strong year for navigation.

Shares of the Miami-based company traded up nearly 3% in midday trading, indicating that investors are much more concerned about where the company is going than where it has been.

Carnival has resumed navigation plans until this summer with six of its nine brands. Costa Cruises plans to resume voyages to Italy in May, and Princess, Cunard և P&O lines are scheduled to depart for the UK this summer.

However, the huge US market remains out of the question as travel companies argue with the US Centers for Disease Control and Prevention over the details of health care measures.

Carnival said bookings for the quarter were up about 90% higher than in the previous three months, and that as of March 21, 2022 sailing bookings were limited despite advertising before 2019. The company said it has $ 2.2 billion in customer deposits, mostly for future cruise loans, to help repay repayment payments.

Barekendan said he expects to spend about $ 550 million a month through June, which he says is better than expected.

The company removed 19 ships from its fleet and made reductions in offshore operations to save money. It is even deeper in debt: $ 5 billion in debt since December, new unsecured banknotes, $ 1 billion in securities offer.

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