US$4.4 billion in losses for Carnival Corp

Fewer voyages Norwegian Cruise Line has extended the cancellation of its cruises until September 30 with a few exceptions. It means another 17 scheduled voyages to Bermuda will no longer take place this year

"Due to the ongoing situation within the US related to COVID-19, CLIA member cruise lines have made a decision to voluntarily extend the period of suspended passenger operations".

- $4.4 billion, that's the record quarterly loss announced by cruise ship operator Carnival on Thursday, half of that coming from a hole left after the sale of some of its ships failed to fetch higher prices.

The cruise industry, like other travel and hospitality sectors, was hit hard by the pandemic, which caused a disruption in travel plans through stay-at-home orders.

The Florida-based company said it had US$7.6 billion available at the end of May, but was burning US$650 million a month as it awaits regulatory approvals for the resumption of some lines in the hope that customers will come back later this year. And new bookings during may for next year's cruises were down from the same time last year.

NCAA bans Mississippi from holding any championships over state flag
"It is past time for change to be made to the flag of the state of Mississippi ", Sankey said in the statement . Last week, a bill to change the flag was introduced in the state Congress, though it is not expected to pass .

Cruise titan Carnival Corportation reported a second-quarter loss of $4.4 billion (Dh16.2bn) including $2bn in impairment charges, and warned that it is unable predict when it will be able to resume operations given the lingering coronavirus shutdown.

This cash burn rate includes ongoing ship operating and administrative expenses, committed capital expenditures (net of committed export credit facilities), interest expense and excludes changes in customer deposits and scheduled debt maturities. Once the order is lifted Carnival Corp. says it 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. The ships are expected to leave the fleet in the next 90 days with "additional agreements" also underway, Carnival said.

Carnival anticipates that initial sailings will be from a select number of easily accessible homeports.

Related News:



Most liked

United Kingdom unveils £1 billion schools 'catch-up' plan after lockdown
Prime Minister Boris Johnson is, according to reports, seriously considering dropping the 2 metre social distancing rule. Some Year 10 and 12 pupils returned to secondary schools and colleges earlier this week.

There are 19 new cases of COVID-19
Bonnie Henry is warning workers to be careful with customers and each other as the B.C. economy continues to reopen. Of the total COVID-19 cases, 10 individuals are hospitalized, five of whom are in intensive care.

Skate 4 is happening: "We can not believe you commented this into existence"
A full decade after the last game in the series was released, EA closed its EA Play event on Thursday with a stunning announcement.

Apple on course for iPhone 12 launch in late September
A new video shows how a dummy unit of the iPhone 12 compares against the iPhone SE , and the smaller bezels make a big difference. Additionally, at least one Apple component supplier in China has already been asked to ship components to Wistron in July.

Nick Cordero lost 65 pounds while battling the coronavirus: wife
There's not much going on, but he's there. "And he answers yes and no questions, a yes is looking up a no is looking down". It's monotonous, and it is hard on a daily basis - very, very hard for me and, I'm sure, even more so for Nick .

Premier League resumes with powerful anti-racism message
They have a lot of quality. 'Now we're going to hear everything and it's going to have that kind of hollow feeling, which is a good mental test for us.

UEFA confirm eight-team knockout tournament for Champions League
The Women's Champions League final eight will be held from August 21-30 in Spain, with Bilbao and San Sebastian the host cities. Paris Saint-Germain, Atalanta, Atletico Madrid and RB Leipzig have already qualified for the Champions League quarter-finals.

No more home quarantine for covid-19 patients in Delhi
To increase testing capacity & quick delivery of results in Delhi, testing via Rapid Antigen testing methodology was also started yesterday.

Beyoncé drops new song 'Black Parade' for Juneteenth
The date has taken on a deeper meaning in 2020 in the midst of calls for racial justice and recognition that Black Lives Matter. She released the song shortly after announcing a project by the same name to support black-owned small businesses.

Apex Legends is coming to Nintendo Switch - and crossplay is confirmed
So, we were pleasantly surprised today when we found out that Apex Legends is going to be coming to Steam and Nintendo Switch . Along with this announcement, Respawn also announced that Apex Legends is coming to Steam .

Brighton & Hove Albion vs. Arsenal - Football Match Report
But after two losses in their two games since returning to action, Arsenal are now without one of their best players in Leno . Both Alexandre Lacazette and Pieree Emerick Aubameyang have caused Maty Ryan to have to be alert.

Barr: Trump has removed top federal prosecutor in Manhattan
Barr and Clayton have known each other for years, the Justice official said, and Clayton was planning to leave to go back to NY. After assistant Attorney General Jody Hunt exited earlier in the week, the position had been left vacant.

Coronavirus was in Italy already in December, sewage study shows
The new ISS study "may contribute to shedding light on the first phase of the virus's circulation in Italy ", La Rosa said. Nine other towns in Lombardy and neighbouring Veneto followed and the entire country went into lockdown in early March.

Trump Supporter Booted off Flight for Not Wearing Mask
In a separate tweet , Straka described how the past 24 hours had provided insight into something that he says he already knew. One recent flier illustrated how easily a single perspective can carry the narrative even when other factors may be at play.

Donald Trump dismisses Anthony Fauci's bubble recommendation for NFL
The NFL plans to have teams play games in their home stadiums, if that's permitted under local health guidelines. Football fans already are looking forward to professional and college football season, but Dr.