Arnold Donald, CEO of Carnival Corporation, told the Financial Times that he expects at least two more difficult years for the shipping industry, which he says will probably only return to pre-pandemic levels in at least 2023, Reuters reported Sunday.
Donald said in an interview with the Financial Times that although the company’s full fleet may sail by the end of this year, it will take more time before the company bounces back to revenue before the coronavirus.
In January, Carnival’s quarterly earnings report showed a larger-than-expected loss, with its earnings per share missing the predicted level of $ 0.10. The company earned $ 34 million in the quarter, missing the $ 96.89 million analysis, MarketBeat reported.
In January, Carnival announced that three of its crossovers would extend their service suspensions through the spring in response to the ongoing COVID-19 pandemic.
Carnival Cruise Line, Princess Cruises and Holland America Line have extended their suspensions until at least March, with Holland America discontinuing services until April and Princess Cruises doing so until May.
The cruise industry was one of the first to be hit by the coronavirus. In March, the Grand Princess cruise ship ran aground at sea for several days after passengers began showing symptoms of COVID-19.