By the end of the year, Carnival Corporation & plc (NYSE: CCL) expects to launch at least six dozen flights. However, the following increase of COVID-19 afflicted people, including the Carnival Corporation, poses uncertainty for the entire sector.
The Carnival Corporation’s 63 cruise ships are expected to resume service by the end of 2021. The company’s stock has risen this week as a result of the submission of concrete plans to resume full-time operations. Furthermore, a significant amount of postponed demand for cruises is anticipated. Tickets for the 40-day Caribbean trip, slated for the winter, were sold out on the first day, according to the Carnival Corporation.
So far, cruise lines are under severe strain as a result of the unclear situation with the coronavirus and a fresh wave of cases throughout the world. So yet, no specific algorithm of actions has been developed in case the number of cases increases again. The current scenario differs from that of early 2020, owing to widespread vaccinations. This implies that the Carnival Corporation may be able to restart trips if sanitary criteria are met.
Carnival Corporation & plc (CCL) claimed losses of more than $10 billion last year as a result of cruise restrictions. The company has taken on significant debt as a result of the forced downtime, so it is critical that operations resume as soon as possible. The Carnival Corporation’s ticket sales data indicates that there is a lot of demand for cruises, so the firm should have no trouble loading the liners.
Carnival Corporation & plc (CCL) traded at $22.71 on Thursday, July 22. The company has a market cap of $27.03 billion.