Summer Is Sailing Away From Cruise Line Stocks
For a while, it looked as though the stormy seas of the pandemic would calm in time for the major cruise lines to get their U.S.-based ships fully back into operation and sailing from domestic ports again by mid-July. Now, it's clear that was a bit too optimistic a view.
Carnival (NYSE: CCL) (NYSE: CUK) is canceling voyages on most of its ships until the beginning of August, depriving it of revenues for another portion of the seasonally potent summer travel period.
The world's largest cruise line now plans to welcome passengers onto just three of its ships in mid-July: Carnival Vista and Carnival Breeze are due to sail out of Galveston, Texas, and the Carnival Horizon will sail from Miami. The company is also trying to work out a solution that would allow its Carnival Miracle to depart from Seattle on an Alaska cruise. But the rest of its fleet will remain idle.
Source Fool.com
