Carnival Hopes That Slow and Steady Will Win the Race
Like someone entering chilly ocean waters, the cruise industry has been tiptoeing its way back into business. Thankfully for investors, the cadence of fleet resumptions is starting to pick up. Carnival (NYSE: CCL) (NYSE: CUK) announced on Thursday that it expects to have 42 ships -- representing just over 50% of its total fleet capacity -- in operation with guests by the end of next month. Carnival also sees itself operating at nearly 65% of its fleet capacity by the end of the year.
It's been a rough surf for the industry. Carnival and smaller rivals Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) haven't been at full strength since suspending operations more than 18 months ago. Regulatory hurdles and travel restrictions have gotten in the way of the restart process, and even now it will be a challenge to fill the limited number of ships that are sailing until the COVID-19 crisis is no longer a threat to passenger and crew member safety. The resumption has been painfully slow, but at least we're seeing the players moving in the right direction.
Image source: Getty Images.
Source Fool.com
