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Thursday, Apr 15, 2021

Royal Caribbean extends global suspension through May 31, 2021

Royal Caribbean extends global suspension through May 31, 2021

Get Report said Tuesday that it’s extending the suspension of most of its global fleet through May 31 from April 30.

Most of the cruise industry’s ships have been shuttered since the COVID pandemic exploded last March.

To "allow additional time for our return-to-service preparations, we have decided to extend the suspension of sailings for our global fleet through May 31st, 2021 – excluding sailings onboard Quantum, Spectrum, Voyager, and Odyssey of the Seas,” Royal Caribbean said on its web site.

“Our plan is to resume further operation in June.”

Exceptions to the extension include:

-- Singapore sailings on Quantum of the Seas, which aren't affected;

-- Israel sailings of Odyssey of the Seas, which aren't affected, and,

-- China sailings of Spectrum of the Seas and Voyager of the Seas departing April 29 through May and beyond, which aren't affected.

Odyssey "will begin her inaugural season out of a new homeport, Haifa, Israel, from June to October 2021. These new sailings are available for residents of Israel only,” Royal Caribbean said.

The company’s stock recently traded at $88.14, up 0.3%. It has soared 25% in the past month amid investor excitement over pandemic vaccines and economic recovery.

Last month, Royal Caribbean posted a wider-than-expected fourth-quarter loss and a narrower-than-estimated adjusted loss.

The Miami company registered a loss of $6.09 a share, with an adjusted loss of $5.02 a share. FactSet analysts predicted a GAAP loss of $5.23, or an adjusted $5.20.

Revenue dropped 99% to $34.1 million, trailing the analyst consensus of $35.6 million.

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