Carnival plans to sell 12%of its fleet as the pandemic keeps the US cruise industry at a standstill

Carnival plans to sell 12%of its fleet as the pandemic keeps the US cruise industry at a standstill

  • Carnival Corporation, the largest cruise business worldwide, will sell 18 ships, totaling up to 12%of its fleet.
  • The company made the announcement in a third-quarter incomes filing, where it likewise reported a $2.9 billion net loss for the period.
  • Carnival has already offered 8 ships and postponed deliveries of new vessels.
  • Go to Business Insider’s homepage for more stories

As the moms and dad company of nine cruise brands including the coronavirus-marred Princess Cruises, Carnival counts more than 100 ships in its fleet. The Miami Herald reports that at least 24 Carnival Corporation ships had break outs, leading to at least 80 deaths among passengers and team members.

In earnings documents, Carnival reported a $2.9 billion net loss for the 3rd quarter of 2020 and said it is speeding up the removal of less-efficient ships that it had prepared to sell in coming years.

” The ships being removed are our older, less efficient ships that would have ultimately been gotten rid of from the fleet over time, however we were able to move up our time table throughout our time out,” Carnival’s chief interactions officer, Roger Frizzell, informed Organization Insider in an email.

” Currently, the company is unable to anticipate when the whole fleet will return to normal operations, and as a result, unable to provide an earnings projection,” the filing read.

A possible intense area for Carnival is that one of its brands, Costa Cruises, rebooted operations in Italy on September 6.

This story has been upgraded to include a declaration from Carnival Corporation.

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