Carnival Slashes Profit Outlook as Iran War Sends Fuel Costs Soaring
Carnival Corp cut its annual profit forecast on Friday, as higher fuel costs pressure the cruise operator's margins amid rising geopolitical tensions.
As it continues to build and implement its plan to meet the requirements of the Framework for Resuming Cruise Ship Operations Order issued on Oct. 30 by the Centers for Disease Control and Prevention (CDC), today Carnival Cruise Line notified guests and travel agents that it has canceled additional 2021 cruises, including:
According to a press release, Carnival is in the process of building a gradual, phased-in approach to resume guest operations, which will focus initially on Miami and Port Canaveral, to be followed by Galveston. Consistent with CDC protocols, Carnival Horizon arrives in Miami this week, and Carnival Breeze will be the next ship back to the U.S. In total, 16 Carnival ships are currently following the CDC process for an eventual resumption of guest service in the U.S. in 2021, including Carnival Conquest, Dream, Ecstasy, Elation, Freedom, Glory, Liberty, Miracle, Panorama, Pride, Sensation, Sunrise, Sunshine and Vista.
The ship Mardi Gras, which is under construction in Finland, is still expected to enter service in 2021.
With this announcement, Carnival’s operations are paused in the U.S. through Jan. 31, 2021. Carnival previously cancelled operations in Australia through March 2, 2021.
“We are committed to meeting the CDC requirements and keeping our guests and business partners informed of our progress,” said Christine Duffy, president of Carnival Cruise Line. “The entire Carnival team appreciates the great support of our guests, travel advisors and business partners, and local officials in our homeports and destinations.”
Updated: November 19, 2020 (Originally published November 18, 2020)
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