Carnival Corporation CEO Arnold Donald told the Financial Times that he forecasts at least two more difficult years for the cruise industry, which is unlikely to return to pre-pandemic levels until at least 2023, Reuters reported on Sunday.
In an interview with the Financial Times, Donald said that while the company’s complete fleet may be sailing by the end of this year, it will take more time for the company to recover from pre-coronavirus revenue.
In January, Carnival’s earnings report for the fourth quarter showed a larger-than-expected loss, with its earnings per share losing the forecast level of $ 0.10. The company earned $ 34 million during the quarter, which did not reach analysts’ estimates of $ 96.89 million, MarketBeat said.
In January, Carnival announced that three of its cruise lines would extend their service suspensions until spring in response to the ongoing COVID-19 pandemic.
Carnival Cruise Line, Princess Cruises and Holland America Line extended their suspensions at least until March, with Holland America stopping services until April and Princess Cruises until May.
The cruise industry was one of the first to be hit by the coronavirus. In March, the cruise ship Grand Princess was stranded at sea for several days after passengers began to show symptoms of COVID-19.