Life After Lockdown

Carnival Sees Bookings Tick Up for 2021, but Continues to Burn Cash Until Then

Almost 60% of 2021 cruises booked in June were new rather than rescheduled trips

a lit cruise ship at night — Carnival Corp. has reasons to be hopeful about 2021.Carnival Cruise

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In a financial update to investors, Carnival Corporation—which owns Carnival Cruise Lines, Princess Cruises and Holland America—said incentives such as flexible booking and low cabin prices have led to an “encouraging” amount of bookings or rebookings for 2021.

While the U.S. cruise industry has agreed to a no-sail order through September, investors are looking to signs of a healthy business next year as the broader travel industry continues to weather the Covid-19 pandemic.

After the pandemic, “we will emerge a leaner, more efficient company,” said President and CEO Arnold Donald in a call with investors.