Carnival Corp. Pandemic-Era Losses Exceed $4 Billion

Cruise Industry Still Struggling to Recover From COVID-19

Miami, FL - Carnival Corporation plc (NYSE/LSE: CCL; NYSE: CUK), the world's largest cruise company, reported a net loss of $4.4 billion for the fiscal year ended November 30, 2020. This compares to a net income of $2.9 billion in the prior year. The company's total revenue for the year was $5.6 billion, down from $20.8 billion in the prior year.

The COVID-19 pandemic has had a devastating impact on the cruise industry. Carnival Corporation was forced to suspend all of its cruises in March 2020, and they have only recently begun to resume operations. The company has also had to cancel a number of cruises due to the pandemic, and it is still unclear when the industry will fully recover.

Despite the challenges, Carnival Corporation remains optimistic about the future of the cruise industry. The company has a number of new ships on order, and it is planning to resume operations on a phased basis in the coming months. Carnival Corporation is also working with the Centers for Disease Control and Prevention (CDC) to develop new health and safety protocols for the cruise industry.

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