Tag Archives: Princess

Cruise lines will need agents “more than ever”

Posted on by
Reply

Cruise lines will need agents “more than ever” as the sector emerges from the Covid-19 pandemic over the next year.

Martin Alcock, director at Travel Trade Consultancy, said that cruise “would take a bit longer to bounce back” from the crisis than other parts of the travel industry.

But he added there was significant growth potential as cruise still represents just a “small portion” of the overall holiday market.

“It’s always been a complicated product to sell and cruise lines will need agents more than ever,” said Alcock during Barclays’ Travel Industry State of the Nation online event. “There will be more commission and more in the way of overrides.”

Alcock said that one of the “upsides” to this year’s crisis was that it had “accelerated” the retirement of older vessels which would reduce worldwide cruise capacity by 8%-10% in 2021. Fleets will also be more efficient and sustainable as they comprise more modern ships.

“The 10% reduction in capacity will help from a price perspective,” he added. “There’s plenty of opportunities to grow.”

Alcock said that while the cruise industry’s core demographic had been “more affected” by the pandemic than other age groups, they were also likely to be “inoculated more quickly than other demographics”.


“Cruise has unfairly had a disproportionate share of bad press but I don’t think it’s terrible news. It’s not a total disaster,” he added.

Alistair Pritchard, travel and aviation lead partner at Deloitte, said the extra complexities created by a combination of Covid and Brexit would lead to more consumers looking to the trade for advice and support.

“They [agents] will need to help support customers across the whole journey – not just when booking,” he added. “They [customers] want advice just before travelling and whilst they are abroad. That’s where the consumer wants to support.”

Carnival Has $7.9 Billion of Cash On Hand; 12 Months of Liquidity

Posted on by
Reply
Carnival Corporation Sending Carnival and AIDA Ships to China in 2017

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.

Carnival Corp. Announces Pricing of 62,500,000 Shares of Common Stock

Posted on by
Reply

Carnival Miracle

Carnival Corporation today announced that it has priced its underwritten public offering of 62,500,000 shares of common stock of the Corporation at a price of $8.00 per share.

The aggregate amount of shares of common stock to be issued in the offering was decreased to approximately $500 million from the previously announced $1.25 billion.

The offering is expected to close on April 6, 2020, subject to customary closing conditions. The Corporation has granted the underwriters an option to purchase up to 9,375,000 of additional shares, which option must be exercised on or before May 1, 2020.

The Corporation expects to use the net proceeds from the offering for general corporate purposes.

The Corporation also announced by a separate press release that it has priced its previously announced private offerings to eligible purchasers of $4 billion aggregate principal amount of 11.500% first-priority senior secured notes due 2023 and $1.75 billion aggregate principal amount of 5.75% senior convertible notes due 2023.