Carnival is selling 6 cruise ships after a $4.4 billion loss, a sign of the industry’s bleak future in the coronavirus pandemic
- Carnival Cruises, which includes brands such as P&O, Princess Cruises and Cunard, is to sell 6 ships amid a downturn caused by the coronavirus crisis.
- The industry has been hammered by COVID-19 after multiple outbreaks occurred at sea, and ports around the world closed to cruise ships.
- Carnival said it lost $4.4 billion in the past three months, and doesn’t know when it can resume normal operations.
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Carnival is planning to sell 6 of its cruise ships after reporting a loss of $4.4 billion in the second quarter of 2020, as the coronavirus crisis continues to hammer the cruise industry.
The company, which includes major cruise lines such as Cunard, P&O and Princess Cruises, reported on Thursday that it was “accelerating” planned sales of the ships.
It reported a massive drop its its revenues in the three-month period to May 31, taking in $700 million, a fraction of its $4.8 billion revenues for the same period in 2019, The Guardian reported.
The company said it was “unable to definitively predict” when cruises will back to normal, making it impossible to make an earnings forecast.
All its cruises were suspended in mid-March, after …continued .
[Source: Business Insider]