The cruise operator Carnival Corporation’s second quarter revenues crashed in the second quarter of the year, dropping from $4.8bn in 2019 to just $700m. Its adjusted net loss for the period was $2.4bn, which is part of the reason it will be selling off six ships within the coming three months in order to stay afloat. Their divestment would still leave the world’s largest cruise operator with a fleet of 98 ships, at a time when market observers estimate the company is burning through $650m per month. The current ban on cruises runs will be in place until July 24, meaning Carnival faces another month without income. The company still has 21,000 employees awaiting repatriation, slightly more than half the estimated total that are currently stuck at sea. Carnival Corp. laid off 820 people in Florida, where it employed a workforce of 3,000. It furloughed another 450.
