Losses mount at Royal Caribbean
Royal Caribbean has posted a loss of $1.3 billion in the three months to 30 September as the cruise industry continues to haemorrhage cash.
The cruise line said its average monthly cash burn is between $250 million to $290 million as it awaits the resumption of services.
It said it expects to re-start global cruise operations in a ‘phased manner’.
Quantum of the Seas is expected to resume cruising from Singapore in December with initial voyages operating with reduced occupancy, modified itineraries and ‘enhanced health protocols’.
"We continue to aggressively manage our spend and take opportunistic actions to bolster our financial position," Executive Vice President and CFO Jason T. Liberty said.
"Moreover, we are optimistic that with the gradual resumption of cruise operations, our cash flow from operations will sequentially improve, driven by an increase in the inflow of customer deposits."
Royal Caribbean said bookings for the first half of 2021 is ‘aligned with the Company’s anticipated staggered resumption of cruises’ while sales for the second half of 2021 are within historical ranges.
Prices are down slightly year-over-year ‘when including the negative yield impact of bookings made with future cruise credits’.
The cruise line said more than 65% of its 2021 bookings are new with future cruise credits accounting for the rest.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
France prepares for a massive strike across all transports on September 18
Turkish tourism stalls due to soaring prices for accommodation and food
CCS Insight: eSIMs ready to take the travel world by storm
Germany new European Entry/Exit System limited to a single airport on October 12, 2025
Airlines suspend Madagascar services following unrest and army revolt