Arnold-Donald-Carnival-CEO

Arnold Donald, CEO of Carnival Corp., holding up the company's Ocean Medallion, a small wearable for their cruise ship passengers, during his keynote address at CES in Las Vegas, U.S., January 5, 2017. REUTERS/Rick Wilking

Arnold Donald Predicts Difficult Years Ahead For Cruise Lines

Reuters
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March 16, 2021

by Kanishka Singh (Reuters) – Carnival Corp ($CCL) Chief Executive Arnold Donald has said that shrinking its fleet due to the pandemic will slow its full recovery until 2023, as cruise lines battle a prolonged fallout from on-board outbreaks, the Financial Times reported on Sunday.

The cruise company’s full fleet might be sailing by the end of this year but with a smaller fleet it will take longer to recover to pre-crisis revenues, Donald told the newspaper in an interview.

Carnival in January reported a bigger-than-expected preliminary fourth-quarter net loss as business was brought to a virtual standstill by the coronavirus outbreak.

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(Reporting by Kanishka Singh in Bengaluru; Editing by William Mallard, Reuters)

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