In line with its peers in the industry, cruise ship operator Carnival (NYSE: CCL)(NYSE: CUK) announced that he was canceling all trips until the end of April, and in some places even longer than that.
Carnival said the European itinerary for the Carnival Legend, which was to be launched in May, was canceled until October 31, delaying the start date for its Mardi Gras vessel from Port Canaveral, Florida, until May 29.
Both Royal Caribbean (NYSE: RCL) and Norwegian Cruise Line Holdings (NYSE: NCLH) extended the break in their sailing schedule earlier until 30 April.
Image Source: Getty Images.
Sail to nowhere
Consumer demand for cruises remains strong, as Carnival noted earlier this month when it said cumulative advanced bookings for the first half of 2022 are now ahead of 2019 levels, even though there was hardly any marketing or advertising.
But at least one analyst sees that the cruise lines will only be heading for the sea again as late as 2022. Barron’s Patrick Scholes, analyst at Truist Securities, quoted investors as saying his best-case scenario was a launch in July, although the fourth quarter was more likely and even possible next year.
Carnival says just as much as it is committed to ‘welcoming’ [guests] back as soon as possible, but unfortunately we determined that it was going to take a while. ‘
Passengers who have now booked canceled voyages may receive a full refund or a credit for future voyages and credits on board.