Connect with us

Hi, what are you looking for?

Jewish Business News


Carnival Cruise at $4.4 Billion Loss Amid The Coronavirus Pandemic

Carnival Cruises, which includes brands such as Princess Cruises, Cunard and P&O, selling SIX ships is a sign of the industry’s bleak future

As the Coronavirus crisis continues to collapse the cruise industry, Carnival Cruise is planning to sell SIX ships out of 27 vessels the company operates, as a result of a $4.4 billion loss reported in the second quarter of 2020.

Carnival Cruise which includes leading cruise lines such as Princess Cruises, Cunard and P&O is one of ten cruise lines owned by the world’s largest cruise ship operator, the American-British corporation. In 2018 the company was estimated to hold an 8.9% share of cruise industry revenue and 22.0% of passengers.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at
Thank you.

The company reported a fall in revenues in the period to May 31, taking in $700 million, a small portion of its $4.8 billion revenues for the same period in 2019, The Guardian reported.

All the company’s cruises were suspended in mid-March after there had been coronavirus outbreaks on 36 cruise ships across the industry worldwide.

The company said it was “unable to definitively predict” when cruises would return to normal, making it impossible to make an earnings forecast.
Carnival has offered travelers the opportunity to suspend their bookings for a future date, but half of them requested a cash refund, the company added.

Maintenance of ships and administration costs the company $250 million a month.
The company said an estimated 21,000 ship staff are still stuck on board of 49 ships, which cannot dock due to government restrictions.



You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...


The Movie The Professional is what made Natalie Portman a Lolita.


After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.