Carnival Corporation said in a regulatory filing on Friday that as of July 31, 2020, the company had $7.9 billion in cash and cash equivalent balance available.
The nine-brand operation said earlier in July that during its pause in guest operations, the monthly average cash burn rate for the second half of 2020 is estimated to be approximately $650 million per month, which could give Carnival approximately 12 months of cash with ships out of operation.
by Samantha Mayling
Costa Cruises plans to restart its sailings from Italian ports on a gradual basis from September 6, 2020.
On Monday, the Italian government approved the resumption of cruises and new health protocols developed in response to the Covid-19 crisis.
The first ship to set sail will be Costa Deliziosa (pictured), on September 6, offering weekly cruises from Trieste to Greece.
Costa Diadema will set sail on September 19, operating seven-day cruises in the western Mediterranean from Genoa.
Costa Cruises said it is working with authorities and the destinations to ensure a “responsible, smooth and well-organised application of the new regulations and protocols”.
Further details on the Costa Deliziosa and Costa Diadema itineraries will be announced in the coming days.
However, the cruise line is extending the suspension of its cruise season for other departures until September 30.
Costa Cruises’ new safety protocol is consistent with the health protocols defined by the Italian government and European (EU Healthy Gateways) authorities.
The UK Foreign Office last month advised against cruise ship travel.
Following the authorization to cruise by the Italian Government, Costa Crociere prepares to gradually restart its operations in light of the new protocols that will be officialised soon, the company said.
Michael Thamm, CEO of Costa Group and Carnival Asia said: “We are extremely excited that we will be able to cruise again soon and we want to thank the Italian Government and all the authorities for their constant availability and support.
“The cruise industry and Costa specifically, as the only Italian cruise company, create significant value to the economy and to the destinations we visit. The gradual restart of our operations will give relief to the local economies in port communities and to the whole ecosystem of almost 5,000 suppliers and business partners, and over 7,500 travel agents, in Italy, who have been suffering from the pause of our activities.
“The resumption of our operations in this phase is also a great responsibility towards our guests, our crew members and the residents of the communities we visit. In the next days, we will be working closely with national and local authorities, ports and terminals, RINA and internally onboard our ships, for the full implementation of the protocols issued by the Italian Government so we can all together guarantee a smooth, well organized and safe restart of our cruises, both onboard and ashore. We look forward to announcing shortly the full program of our itineraries so that thousands of loyal Costa Guests can have the opportunity to sail again with us for the holiday they missed so much.”
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