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Carnival CEO: Cruise industry won't be back to normal until 2023

Carnival CEO: Cruise industry won't be back to normal until 2023
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Carnival Corporation CEO Arnold Donald told the Financial Times that he anticipates at least two more difficult years for the cruise industry, which he said will most likely not return to pre-pandemic levels until at least 2023, Reuters reported on Sunday. 

In an interview with the Financial Times, Donald said that while the company’s full fleet may be sailing by the end of this year, it will take more time for the corporation to bounce back to pre-coronavirus revenues.

In January, Carnival’s earnings report for quarter four showed a larger-than-expected loss, with its earnings per share missing the predicted level by $0.10. The company earned $34 million during the quarter, which missed the analyst estimates of $96.89 million, MarketBeat reported.

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In January, Carnival announced that three of its cruise lines would extend their suspensions of service through the spring in response to the ongoing COVID-19 pandemic.

Carnival Cruise Line, Princess Cruises and Holland America Line all extended their suspensions through at least March, with Holland America halting services through April and Princess Cruises doing so through May. 

The cruise industry was one of the first to be hit by the coronavirus. In March, the Grand Princess cruise ship was stuck at sea for several days after passengers began showing symptoms of COVID-19.