Second Quarter 2020

Starting on March 13, 2020 and due to the COVID-19 pandemic, the Company suspended its global cruise operation. This resulted in the cancellation of all of the Company's second quarter sailings.

The Company reported US GAAP Net Loss for the second quarter of 2020 of $(1.6) billion or $(7.83) per share compared to US GAAP Net Income of $472.8 million or $2.25 per share in the prior year.  The 2020 results include a non-cash asset impairment loss of $156.5 million.  The Company reported Adjusted Net Loss of $(1.3) billion or $(6.13) per share for the second quarter of 2020 compared to Adjusted Net Income of $532.7 million or $2.54 per share in the prior year.  The Net Loss for the quarter is a result of the impact of the COVID-19 pandemic on the business.

Business Update

"The COVID-19 pandemic is posing an unprecedented challenge to our industry and society. Our teams are working tirelessly to return to service soonest and doing so by developing new health and safety protocols to protect the well-being of our guests, crew and destinations we visit," said Richard D. Fain, Chairman and CEO. "In the meantime, we are using this time to refine our operations to be as efficient as we can while providing the great experiences that so many people are eagerly awaiting."

Regarding the new health and safety protocols, the Company is being advised by a "Healthy Sail Panel" of experts in areas of science and public health with backgrounds in medical practice, research, infectious disease, biosecurity, hospitality and maritime operations.

Full report here https://www.rclinvestor.com/press-releases/release/?id=1488