The news remains bleak for Carnival (NYSE: CCL). While the company intends to resume limited operations in August, whether that actually happens remains in doubt. And sailing eight ships from three ports will do little to reverse the overall fortunes of a business that has been shut down since March.
Carnival has been forced to borrow billions of dollars under unfavorable terms, and it has no clear date for the resumption of normal operations. The company, like its chief rivals Royal Caribbean and Norwegian Cruise Line, has been working on plans for expanded passenger screening, added cleaning, and other improved safety methods, but without a vaccine for COVID-19, cruising at best looks very different and at worst remains impossible.
Carnival plans to have eight ships operating in August. Image source: Carnival.
Source Fool.com