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Carnival Corporation & plc first quarter 2021 business update

FinanceCarnival Corporation & plc released its first quarter 2021 business update, showing US GAAP net loss of USD 2.0 billion and adjusted net loss of USD 2.0 billion.

First quarter 2021 ended with USD 11.5 billion of cash and short-term investments.

Cash burn rate in the first quarter of 2021 was better than expected as the company had identified and implemented opportunities to optimise its monthly spend.

Booking volumes for all future cruises during the first quarter of 2021 were approximately 90% higher than booking volumes during the fourth quarter of 2020.

Cumulative advanced bookings for full year 2022 are ahead of a very strong 2019, despite minimal advertising or marketing.

Six of the company's nine brands are expected to resume limited guest cruise operations by this summer.

- AIDA resumed guest cruise operations in March, sailing in the Canary Islands.
- Costa expects to resume guest cruise operations in May, sailing to Italian ports.
- P&O Cruises (UK), Cunard and Princess Cruises will each offer a series of UK cruises this summer.
- Seabourn expects to resume guest cruise operations this summer, sailing from Greece.

Full report here https://www.carnivalcorporation.com/news-releases/news-release-details/carnival-corporation-plc-provides-first-quarter-2021-business-0

Apr 08 2021

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