Carnival bracing for another sizable loss since coronavirus outbreaks: WSJ
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Carnival Corp. said it is continuing to burn cash and expects to post another sizable loss after almost a year since onboard coronavirus outbreaks brought its voyages to a halt in the U.S.
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The company on Monday reported a preliminary loss of $2.22 billion for the fourth quarter ended Nov. 30, compared with a profit of $423 million in the comparable quarter a year earlier. Adjusted losses were $1.9 billion. The company didn’t disclose preliminary revenue figures in its press release, but a spokesman said revenue was in the tens of millions of dollars.
CARNIVAL, NORWEGIAN, ROYAL CARIBBEAN EXTEND SUSPENSION OF MOST SAILINGS THROUGH END OF FEBRUARY
Carnival’s flagship line has paused all U.S. cruises through the end of March, while the company’s Princess Cruises and Holland America Line have also scrapped some voyages this year. The timing for U.S. voyages ultimately depends on receiving a permit from the U.S. Centers for Disease Control and Prevention, which is requiring operators to conduct mock sailings and apply for a certificate at least 60 days before offering passenger cruises.