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Carnival Set to Post $2.2 Billion Quarterly Loss as US Sailing Hiatus Approaches One Year

Published by

December 5, 2024
(GMT+2)

Carnival Corporation said it is continuing to burn cash and expects to post another substantial loss after nearly a year since onboard coronavirus outbreaks brought its voyages to a standstill in the US.On Monday, the company announced a preliminary loss of $2.22 billion for the fourth quarter closed on November 30, compared with a revenue of $423 million in the comparable quarter a year earlier. Adjusted losses were $1.9 billion. The company didn’t disclose introductory revenue figures in its press release, but a spokesman said revenue was in the tens of millions of dollars.Carnival’s flagship line has placed all US cruises to a standstill through the end of March, while the company’s princess Cruises from Holland America Line have also discarded a few voyages this year. The timing for US voyages ultimately depends on receiving a permit form the US Centers of Disease Control and Prevention, which is in need of operators to conduct mock sailings and apply for a certificate at least 60 days before offering passenger cruises.

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