September 30, 2022 23:35

Royal Caribbean positive despite 5th straight quarter of losses

Image: Royal Caribbean.
Image: Royal Caribbean.

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Cruise line, Royal Caribbean, has suffered its fifth straight quarter of losses since the pandemic started.

Royal Caribbean has continued to lose billions of dollars as a result of the pandemic which has effectively shut down the cruise industry since last March.

The company posted an adjusted first-quarter loss of $1.1bn, but chief executive, Richard Fain, remains optimistic following the release of new guidelines by Washington that will allow a cautious resumption of sailings from mid-July.

“We have had very constructive dialogues with the Centers for Disease Control and Prevention [CDC] in recent weeks about resuming cruising in the US in a safe and healthy manner,” he said in a statement.

“Last night, the CDC notified us of some clarifications and amplifications of their conditional sail order which addressed uncertainties and concerns we had raised.”

The company said about 75% of bookings made for 2021 are new and the rest are due to passengers redeeming future cruise credits.

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