No Change on Sailing Plans after New COVID-19 Cases, Cruise Lines Say
Royal Caribbean Group and Carnival Corp will push ahead with a return to cruises this summer despite two guests onboard Royal Caribbean’s Celebrity Millennium ship testing positive for COVID-19.A year after several cruise ships were host to major coronavirus outbreaks and with large numbers of Americans now vaccinated, cruise lines have been striving to get the business going.Shares in Royal Caribbean, Carnival Corp, and Norwegian Cruise Line Holdings Ltd fell between 1% and 2% in response to the report of the positive tests.Asked by Reuters on Friday…
Royal Caribbean Profit Jumps on Higher European Demand
Royal Caribbean Cruises Ltd's quarterly profit beat analysts' average estimate as demand for its European and Chinese cruises increased and passengers spent more on board, helping it raise its full-year profit forecast. Shares of the world's second-largest cruise operator rose as much as 9.1 percent to a life-high of $61.35. European cruises account for 22 percent of the capacity in the company, whose cruise lines include Royal Caribbean International, Celebrity Cruises and Azamara Club Cruise. The company raised its full-year earnings forecast to $3.40-$3.50 per share, from $3.25-$3.45.
Carnival's Profit Forecast Down
Carnival Corp, the world's largest cruise operator, forecast an adjusted profit below market estimates for the current quarter, blaming increased competition in the Caribbean. Shares of the company, which operates the Carnival, Holland America and Costa cruise lines, fell as much as 3 percent. "The North American brands are ahead on price but are still behind on occupancy as a result of the large increase in industry capacity in the Caribbean," Chief Financial Officer David Bernstein said on a conference call.
