Brian Acker discusses Carnival Corp
Carnival Corp.’s namesake Carnival Cruise Line canceled more sailings because of coronavirus -- some through the end of the year.
The company dropped all of its San Francisco sailings scheduled for 2020 and Alaska sailings through the end of June. It also canceled itineraries for two ships -- the Carnival Radiance and Carnival Legend -- through the end of November and October, respectively.
The move suggests Carnival isn’t counting on a quick return to normal even after cruise companies resume operations. The company’s flagship line had previously announced a general pause through May 11.
Carnival and other major cruise companies suspended sailings after a series of coronavirus outbreaks at sea raised concern about the safety of the industry.
With the industry shut down and the company facing significant costs to maintain its fleet, Carnival Corp. has said it needs about US$1 billion in cash per month to get by.
It’s turning to capital markets this week to raise some of the funds it needs, but even that new money will run out if the company can’t sail again soon.