Welcome to our dedicated page for Carnival PLC news (Ticker: CUK), a resource for investors and traders seeking the latest updates and insights on Carnival PLC stock.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) is a British-American cruise operator, recognized as the largest global cruise company. Headquartered in Miami, Florida, the company boasts a diverse portfolio of ten cruise line brands, including Carnival Cruise Lines, Holland America, Princess Cruises, and Seabourn in North America; P&O Cruises and Cunard Line in the United Kingdom; Aida in Germany; Costa Cruises in Southern Europe; and P&O Cruises in Australia. Carnival's fleet encompasses over 100 vessels, providing a range of memorable vacation experiences worldwide.
With 92 ships in service by the end of fiscal 2023, Carnival has demonstrated significant recovery and growth, especially after the pandemic. The company saw nearly 13 million guests in 2019, a figure they matched again in 2023. Among its notable achievements and current projects, Carnival continues to innovate in sustainable travel. Holland America Line, for example, began a long-term biofuel test on its flagship, Rotterdam, aiming to reduce greenhouse gas emissions significantly.
Recent news highlights the company's commitment to enriching guest experiences. Princess Cruises introduced an immersive 'Voyage to the Stars' experience in Alaska, while Holland America Line's Global Fresh Fish Program was featured on 'Top Chef'. Additionally, Seabourn's launch of its Zero @ Sea mixology program showcases unique non-alcoholic cocktails, responding to evolving guest preferences.
Carnival Corporation's future projects are also promising. The Princess Cruises fleet is set to expand its itineraries in Japan and Southeast Asia for the 2025-26 season, with Diamond Princess leading the way. Moreover, the Seabourn Odyssey will offer nostalgic final voyages through Alaska before transitioning out of the fleet.
Financially, Carnival Corporation continues to show resilience and growth, reflected in their latest fiscal reports and quarterly earnings. Investors and stakeholders can look forward to a conference call scheduled on June 25, 2024, to discuss second-quarter financial results. This proactive engagement underscores Carnival's dedication to transparency and shareholder value.
Carnival Cruise Line is set to resume operations for three additional ships in September and four in October, increasing the total to 15 ships as part of their ongoing restart plan. The ships include Carnival Glory, Carnival Pride, and Carnival Dream starting in September, followed by Carnival Conquest, Carnival Freedom, Carnival Elation, and Carnival Sensation in October. While unvaccinated guests can still sail, they will face additional health and testing protocols. Carnival emphasizes maintaining safety and confidence with its destination partners as they work towards full fleet operation by year-end.
Seabourn has announced the launch of new cruises for Seabourn Ovation, starting from Miami between November 2021 and April 2022. The itinerary includes three 11-day Caribbean voyages visiting San Juan, Guadeloupe, and St. Kitts & Nevis. Unique guest experiences include Caviar in the Surf and Marina Day. The ship will also transit the Panama Canal on a 21-Day Holiday voyage from Miami to Los Angeles on December 21. Guests booking by August 31, 2021 can receive $1,000 to $2,000 shipboard credit.
Cunard has announced the launch of its 'Grand Escape Voyages,' featuring over 40 new itineraries commencing October 2021 and running through May 2022. The flagship vessels, Queen Mary 2, Queen Elizabeth, and Queen Victoria, will visit 49 destinations including the Caribbean, Western Europe, and Asia. Cruises range from 2 to 40 nights, with fares for a 14-night Caribbean voyage starting at $1,499. Guests can benefit from several promotional offers, including free onboard credits and upgrades.
Carnival Corporation announced a tender offer to acquire up to $2,004,000,000 of its 11.500% First Priority Senior Secured Notes due 2023. The offer commences on July 6, 2021, and will expire on August 2, 2021. Holders can receive a total consideration of $1,142.50 for each $1,000 principal amount of notes tendered by July 19, 2021. This initiative aims to reduce interest expenses and align covenants with a recently repriced Term Loan Facility. The company may not accept notes tendered after the Early Tender/Consent Deadline if the maximum principal amount is reached.
Carnival Cruise Line marked its first cruise departure from PortMiami in almost 16 months with the launch of Carnival Horizon. This resumption is expected to boost the local economy significantly, contributing over $9 billion in direct economic activity and supporting approximately 159,000 jobs statewide. The cruise industry in Florida generates about $7 billion and 40,000 jobs annually in Miami-Dade alone. The return signifies a crucial step in reviving the cruise sector and aiding thousands of workers affected by earlier suspensions.
Princess Cruises has announced its partial summer 2021 Alaska season, featuring immersive experiences through its award-winning 'North to Alaska' program. From July 25 to September 26, guests aboard the Majestic Princess will enjoy local seafood, cultural activities, and unique excursions. Highlights include special Alaska-themed dinners, fishing experiences, and local personalities sharing their stories. The cruises prioritize health and safety, requiring proof of COVID-19 vaccination for guests. Prices start at $799 per person, with various adventure excursions available in Ketchikan, Juneau, and Skagway.
Carnival Corporation reported a net loss of $(2.1) billion for Q2 2021, with adjusted losses at $(2.0) billion. The company ended the quarter with $9.3 billion in cash, believing it sufficient for a full operational return. Customer deposits increased to $2.5 billion, and booking volumes rose 45% compared to Q1 2021. 42 ships, over 50% of capacity, are set to resume operations by November 30, 2021. Aiming for sustainability, Carnival announced 2030 goals and 2050 aspirations. The company also reduced future interest expenses by $120 million annually through refinancing.
Carnival Cruise Line announced plans to expand its fleet by adding two new ships by 2023. The company will take delivery of an Excel-class ship originally assigned to AIDA Cruises and acquire Costa Magica, undergoing a Carnival-branded conversion by mid-2022. This growth is in addition to the upcoming launches of Mardi Gras on July 31 and Carnival Celebration in late 2022, bringing the total fleet to 27 ships by year-end 2023. These new ships will enhance guest experience and improve environmental efficiencies.
Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced the resumption of cruise operations for eight brands, including Carnival Cruise Line and Princess Cruises, with enhanced health protocols. By end of fiscal year 2021, 52% of its fleet (42 ships) will be operational. Initial sailings from North America start in July and August, featuring eco-friendly ships like Mardi Gras. The company aims to address pent-up demand, contributing to economic recovery and jobs globally while ensuring the health and safety of guests and crew.
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