Carnival says cruises that go-ahead are cash flow positive, reveals US$ loss in US


Cruiseline firm Carnival Corporation (NYSE:CCL) Plc reported a US$2.8bn net loss for its US business, but highlighted that the voyages it operated during the third quarter were cash flow positive.

Carnival said it expected it would continue to be cash flow generative, for voyages that are ongoing.

To date, eight of Carnival’s nine brands have resume operating for guests.

“We are very glad to be back doing what we do best, delivering memorable vacation experiences for our guests, while doing so in a way that best serves the interests of public health,” said chief executive Arnold Donald.

“Even at this early stage with intentionally constrained occupancy levels, our voyages are already cash flow positive.”

“Carnival Cruise Line resumed operations in July offering Caribbean and Alaska sailings somewhat comparable to prior years and achieved 20% higher revenue per passenger per cruise day (PCD) than 2019 peak levels, despite onboard credits from cancelled cruises.”

Carnival said that its monthly average cash burn rate for the third quarter of 2021 was $510 million, which was better than previous guidance and in line with the $500 million monthly average cash burn rate for the first half of 2021.

It ended the quarter with US$7.8bn of liquidity.


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