Carnival Plans Loan Sale to Refinance Costly Pandemic Bonds
By Davide Scigliuzzo (Bloomberg) — Carnival Corp. is taking another stab at replacing expensive bonds sold at the onset of the pandemic with a new $1.5 billion loan. The cruise ship...
The world’s largest cruise company is on track to have half of its fleet capacity return to service by the end of October, with plans to return 65% of its fleet by the end of the year.
Carnival Corporation (NYSE/LSE: CCL; NYSE: CUK) announced Thursday that, to date, eight of the company’s nine cruise line brands – Carnival Cruise Line, Princess Cruises, Holland America Line, Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK) and Cunard – have resumed guest sailings.
By the end of October, those eight brands have announced they will be operating 42 ships, marking the return of over 50% of the company’s fleet capacity as part of global restart efforts. Additional brand updates on the resumption of guest cruise operations will be forthcoming in the coming weeks, including details on ships and itineraries, the company said.
Carnival said its brands are resuming operations using a gradual, phased-in approach, with sailings from major global ports in multiple regions around the world, including the U.S., Mexico, Caribbean, United Kingdom, Western Europe and the Mediterranean, among others. The cruises operate with enhanced protocols developed in conjunction with government and health authorities, and informed by guidance from the company’s public health, epidemiological and policy experts. This includes operating vaccinated cruises with updated testing and masking policies that follow the latest guidance, while creating extraordinary vacation experiences that continue to generate high guest satisfaction scores.
“Based on our initial restart of guest cruise operations across eight brands, it is clear from our guests that there is tremendous confidence in our brands, our health and safety protocols, and the return of cruising as one of the world’s most popular vacations,” said Roger Frizzell, chief communications officer for Carnival Corporation.
“As the restart of cruising continues to gain momentum and create positive economic activity for people who depend on our industry to make a living, we look forward to serving our guests with more than half our fleet capacity returning in October, while delivering a great guest experience and serving the best interests of public health. Our highest responsibility and top priority remains compliance, environmental protection, and the health, safety and well-being of our guests, our shipboard and shoreside personnel, and the communities we visit,” Frizzel said.
Carnival Corporation provided the following summary of its brand restart announcements to date, including those contributing to the 50% milestone in October, along with plans for additional ship restarts as part of the company’s overall goal to return nearly 65% of capacity by December 31, 2021.
North America Brands:
Europe & Asia Brands:
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