What Is Royal Caribbean Going to Do With $5.1 Billion in Cash?
The U.S. Centers for Disease Control's decision to allow cruise ships to resume sailing by mid-July comes at just the right time for Royal Caribbean (NYSE: RCL), which just reported a $1.1 billion adjusted loss for the first quarter.
While no one expected the cruise line operator to really do any better, it can only survive so long producing billion-dollar losses quarter after quarter. The real benefit, though, is that the resumption of voyages comes as Royal Caribbean has accumulated a large stash of cash.
With $5.1 billion in the bank (but $20.7 billion in debt to go with it), the cruise ship owner looks like it has the financial means available to finish riding out this storm.
Source Fool.com
