Carnival Corporation CEO Arnold Donald told the Financial Times that he expects the cruise industry to see at least two more difficult years, which he says will most likely not return to pre-pandemic levels until 2023, Reuters reported Sunday.
In an interview with the Financial Times, Donald said that while the company’s entire fleet will be able to sail by the end of this year, it will take more time for the company to return to pre-coronavirus earnings.
In January, Carnival’s fourth-quarter earnings report showed a larger-than-expected loss, with earnings per share down $ 0.10 from predicted levels. The company made $ 34 million during the quarter, missing the analyst estimate of $ 96.89 million, MarketBeat reported.
In January, Carnival announced that three of its cruise lines would extend their service disruptions until spring in response to the ongoing COVID-19 pandemic.
Carnival Cruise Line, Princess Cruises and Holland America Line have all extended their suspensions until at least March, with Holland America discontinuing its services until April and Princess Cruises until May.
The cruise industry was one of the first to be affected by the corona virus. In March, the cruise ship Grand Princess was stuck at sea for several days after passengers started showing symptoms of COVID-19.