{"id":10713,"date":"2020-06-18T20:00:00","date_gmt":"2020-06-18T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/carnival-loses-4-4-billion-as-coronavirus-sinks-cruise-industry\/"},"modified":"2020-06-18T20:00:00","modified_gmt":"2020-06-18T17:00:00","slug":"carnival-loses-4-4-billion-as-coronavirus-sinks-cruise-industry","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/carnival-loses-4-4-billion-as-coronavirus-sinks-cruise-industry\/","title":{"rendered":"#Carnival loses $4.4 billion as coronavirus sinks cruise industry"},"content":{"rendered":"

“#Carnival loses $4.4 billion as coronavirus sinks cruise industry<\/strong>”<\/p>\n

\n
\n
\n

June 18, 2020 |<\/span> 1:00pm <\/p>\n

\n Enlarge Image<\/p>\n

\"A<\/img>
\n A carnival cruise ship docked in Japan in February amid a coronavirus outbreak on board<\/span>
\n Bloomberg via Getty Images<\/span><\/p><\/div>\n

\n Carnival reported a record $4.4 billion in quarterly losses on Thursday, as the COVID-19 pandemic crippled the world\u2019s biggest cruise operator and forced it to take major write-downs on the disposal of now redundant ships.<\/p>\n

The Florida-based company said it had $7.6 billion available at the end of May, but was burning $650 million a month as it awaits regulatory app<\/a>rovals for the resumption of some lines in the hope that customers will come back later this year.<\/p>\n

The cruise business globally has collapsed after several liners, including some owned by Carnival\u2019s Princess Cruises, became coronavirus hotspots, killing some on board and forcing port quarantines for hundreds more crew and staff.<\/p>\n

The company said it hoped to resume operations in a phased manner but was resigned to cutting back on overall capacity and had already agreed to sell six of its ships.<\/p>\n

Carnival\u2019s shares fell 8 percent in early trades as it revealed a roughly $2 billion loss due to the difference in the sale price of the ships and their previously booked value.<\/p>\n

By early afternoon, however, the stock was down by only 2.3 percent.<\/p>\n

Carnival, which in recent weeks had fully drawn down a $3 billion credit line and issued $6.6 billion in bonds and equity, said it was looking for further waivers on debt repayments that are due next year, without which it could breach certain loan conditions.<\/p>\n

\u201cThe longer the pause in guest operations continues, the greater the impact on the company\u2019s liquidity and financial position,\u201d it said in its preliminary results for the quarter ending May 31.<\/p>\n

Cruise lines normally get bookings six months to a year in advance and Carnival and its peers have steadily had to cancel, refund or rebook thousands of tickets for customers since the coronavirus outbreak first hit ships in Asia early this year.<\/p>\n

The company said half of the guests affected by cancellations so far have requested full refunds, with the rest prepared to rebook. New bookings made in May for cruises in 2021 were down compared to last year, but were showing signs of improvement, it added.<\/p>\n

Excluding one-time charges, Carnival reported a preliminary second-quarter net loss of $2.4 billion.\n <\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

Source<\/a><\/span><\/p>\n

\n

If you want to read more Business News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

\n

if you want to watch Movies<\/a> or Tv Shows go to Dizi.BuradaBiliyorum.Com<\/a> <\/span> for forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"

“#Carnival loses $4.4 billion as coronavirus sinks cruise industry” June 18, 2020 | 1:00pm Enlarge Image A carnival cruise ship docked in Japan in February amid a coronavirus outbreak on board Bloomberg via Getty Images Carnival reported a record $4.4 billion in quarterly losses on Thursday, as the COVID-19 pandemic crippled the world\u2019s biggest cruise…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[22718,22719],"class_list":["post-10713","post","type-post","status-publish","format-standard","hentry","category-general","tag-carnival-loses-4-4-billion-as-coronavirus-sinks-cruise-industry","tag-carnival-reported-a-record-4-4-billion-in-quarterly-losses-on-thursday"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/10713","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=10713"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/10713\/revisions"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=10713"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=10713"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=10713"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}