Cruise operators see brighter horizon as vaccines spur bookings
27 Feb, 2021 07:30 PM
5 minutes to read
Cruise lines had to wave goodbye to hopes of sailing in 2020 after virulent strains of Covid forced their ships to anchor. Photo / Getty Images
Financial Times
By: Alice Hancock in London Royal Caribbean s disclosure this week of a $1bn loss for the fourth consecutive quarter marked the end of a gloomy year since a Covid outbreak on board the Diamond Princess cruise ship brought the industry to a standstill.
But investors finally found cause for celebration, pushing the company s share price up almost 12 per cent as it revealed a bump in bookings spurred by fresh confidence around vaccines and lockdown easing.
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Feb 26, 2021
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The parent company of the world’s largest cruise line, Royal Caribbean, as well as Celebrity Cruises and Silversea, is taking an “opportunistic” approach to ship sales as it navigates the unprecedented shutdown of most of its operations worldwide, one of the company’s top executives said this week.
The company already has reduced the capacity of its 26-ship Royal Caribbean fleet by selling two older ships in December, and just last month it sold its entire three-ship Azamara brand to a private equity company, Sycamore Partners.
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