Carnival Says More Than Half of Fleet to Be Sailing by October

The company’s business was completely sidelined for more than a year by the Covid-19 pandemic

Bloomberg — By Jonathan Levin

Carnival Corp., the world’s largest cruise operator, said it expected to have more than half of its fleet capacity sailing again by late October, with capacity up to 65% by the end of the year.

The shares rose 2.6% to $24.22 at 9:39 a.m. in New York, outpacing the broader market.

Like the rest of the cruise industry, Carnival’s business was completely sidelined for more than a year by the Covid-19 pandemic. The industry had been swiftly opening up again, fueled by pent-up demand, when the delta variant hit the U.S. and weighed on near-term booking trends.

Carnival has moved the goalpost for restarting — or at least changed its wording — slightly on several occasions. On June 24, Chief Executive Officer Arnold Donald estimated that the entire fleet would be operating by spring 2022. Before that, Donald had said on April 7 he would like to have the entire fleet going “by the end of this year, early next year.”