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Carnival Jumps on Plans to Put Half of Fleet on the Job by Next Month By Investing.com


© Reuters.

By Dhirendra Tripathi

Investing.com – Carnival (NYSE:) stock (NYSE:) rose 5% Thursday as the cruise operator said it is on pace to restart over 50% of fleet capacity by October.

As per the company’s previously announced plans, it aims to have nearly 65% of its fleet capacity in operation by December 31.

Eighteen of its nine cruise-line brands have since resumed guest sailings. The eight brand’s will have 42 vessels in operation by October. It marks the return of more than half the global fleet capacity.

The company stated that the sailings would be from U.S., Mexico and Caribbean as well the U.K., Western Europe, and the Mediterranean.

As governments placed severe restrictions on the operation of cruise and leisure tourism companies even after they resumed services, the industry was among those most affected by the pandemic. Operators are required to adhere to Covid guidelines, which means they have to refuse to accept many travelers and keep their costs high.

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Mike Robinson
Mike covers the financial, utilities and biotechnology sectors for Street Register. He has been writing about investment and personal finance topics for almost 12 years. Mike has an MBA in Finance from Wake Forest University.