Cruise company Carnival Corp. has endured a challenging return to normalcy following the challenges posed by the coronavirus pandemic. The company posted its latest adjusted quarterly earnings on Friday, exhibiting a $1.99 billion loss.
This loss is highly attributed to the cruise line’s efforts to re-equip itself with the necessary tools to operate fully functional cruises and cater to customers after a prolonged period of inactivity and operations at a limited capacity. According to the company, Carnival Corp spent more money on getting employees back on its payroll and preparing its ships for voyages than it made thanks to cruise package sales.
While the company experienced rising demand during the second financial quarter of the year, demand regressed yet again during the third quarter due to rising uncertainty caused by the Delta variant of the coronavirus which has severely affected several world regions.
Despite high spending during the third quarter, Carnival remains confident in its ability to return to its pre-pandemic financial situation. While rising costs remain a concern, the company was able to report a positive cash flow during its latest financial report.
