Travel Royal Caribbean Group reports huge annual loss | News

Royal Caribbean Group reports huge annual loss | News

-


Royal Caribbean Group has reported a net loss of $5.8 billion for financial 2020.

This compares to the net profit of $1.9 billion reported last year by the cruise giant.

The company implemented a voluntary suspension of cruises on March 13th last year and has yet to set sail again.

Royal Caribbean currently hopes to return to operation at the end of April, but the deadline has been repeatedly pushed back.

Richard Fain, chief executive of Royal Caribbean Group, said: “The Covid-19 pandemic is having a painful and profound impact on our world and our business; unquestionably, this crisis is the most difficult in the company’s history.

“But we have been impressed and grateful for the resourcefulness and agility of our team in responding to these unprecedented challenges.

“More importantly, we remain confident about the ability of our company to recover and return to the positive trajectory we were on previously.”

He added: “We are encouraged to see the sharp decline in cases and the growing availability of vaccines.

“We can’t wait to get back to the business of showing people the world and making great memories.”

Losses in the fourth quarter were $1.4 billion, against a net profit last year of $273 million.

In January, the group announced it had entered into an agreement to sell its three-ship Azamara brand for more than $200 million.

The company still operates Royal Caribbean International, Celebrity Cruises and Silversea Cruises.

During 2020, the group raised approximately $9.3 billion of new capital through a combination of bond issuances, common stock public offerings and loans.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

WhatsApp alerting users to accept updated privacy policy by May 15 | Technology News

In what could be a surprise for many users, WhatsApp has started reminding a few of its users...

Google to speed up release cycle of Chrome browser to four weeks | Technology News

Google is working on speeding up the release cycle of Chrome updates to four weeks from the current...

Flipkart enables voice search in Hindi, English: Here’s how to use it | Technology News

Ecommerce platform Flipkart has dropped a voice search on its platform that will allow customers to search for...

PUBG: New State pre-registrations surpasses 5 million mark in just 1 week | Technology News

PUBG Mobile game’s latest instalment, PUBG New State has crossed the 5 million mark in pre-registration in just...

Is Adidas giving free shoes on Women’s Day? Don’t fall for this WhatsApp scam | Technology News

Popular messaging platform WhatsApp has become vulnerable to different kinds of scams that often con users with dubious...

Must read

You might also likeRELATED
Recommended to you

en English
X