Carnival Corp Stock Price, News & Analysis

Carnival Corporation has appointed John Padgett as the new president of Princess Cruises, effective immediately. Padgett, previously chief experience and innovation officer, will manage all operational functions of Princess Cruises, which operates a fleet of 14 ships. He will report to Jan Swartz, who has led the brand since 2013. Padgett is recognized for his role in developing the award-winning MedallionClass® experience, which enhances guest experiences through innovative technology. His leadership aims to drive further growth as the cruise line navigates a dynamic market.

Princess Cruises celebrated the maiden call of its ship, Majestic Princess, in San Francisco on October 11, 2021, marking the return of cruise operations to the city after a global pause. The ship's seven-day Classic California Coast voyage commenced from Los Angeles. Guests on board enjoyed various attractions in San Francisco while the local businesses anticipated the positive economic impact from the return of cruises. Ensuring health safety, passengers are required to be fully vaccinated and present a negative COVID-19 test before boarding.

Holland America Line celebrated the inaugural West Coast departure of its ship Koningsdam on October 10, 2021, from San Diego. This marks the cruise line's return to service following an industry-wide pause. The Pinnacle Class vessel will embark on 23 seven-day cruises to Mexico and the California coast until April 3, 2022. The cruise line will contribute over $35 million in direct spending to San Diego's economy, with each ship visit generating around $364,000. Holland America Line aims to reconnect with guests, enhancing the cruising experience while implementing sustainable practices.

Carnival Corporation (CCL) successfully completed a $2.3 billion senior secured term loan facility to redeem its 11.5% First Priority Senior Secured Notes due 2023. The loan, maturing in 2028, will save over $135 million annually in interest. The refinancing transaction aims to improve liquidity and extend maturities, while a conditional notice of redemption for the 2023 Notes has been issued. This financial maneuver is expected to enhance Carnival's stability amid ongoing market challenges.

Carnival Cruise Line announced plans to resume operations of more ships in January and February 2022, aiming for full fleet service by spring. By year-end, 17 ships will be operational, with Carnival Sunshine restarting on January 13 and Carnival Liberty on February 11. This expansion will represent 90% of Carnival's U.S. capacity. The company is optimistic about future vaccine approvals for younger children, facilitating family travel. However, three U.S.-based ships and two Australian ships remain canceled through February.

Holland America Line has introduced a special Military Appreciation Offer providing $100 in Onboard Spending Money for active and retired military personnel booking cruises from San Diego through December 31, 2021. This offer applies to a variety of seven-day cruises to Mexico and the California Coast aboard the Koningsdam and a special Zuiderdam sailing. The credit can be used for various onboard amenities including shore excursions and dining. This initiative acknowledges the significant military presence in California, particularly in San Diego.

Seabourn announces that its ultra-luxury ship, Seabourn Encore, will resume service earlier than planned on February 19, 2022. The ship will offer 10- to 11-day itineraries to the Canary Islands and the Mediterranean, departing from Lisbon. Booking for these new voyages opens on October 5, 2021. Guests can take part in special entertainment featuring Sir Tim Rice and enjoy various shore excursions. Seabourn aims to deliver unique cultural experiences while maintaining its ultra-luxury service.

Carnival UK has appointed Sture Myrmell as its new president effective October 18, transitioning from his role as president of P&O Cruises Australia. Myrmell, based in Southampton, England, will also serve as interim president of Cunard until a new appointment is made. With over 20 years at Carnival Corporation, Myrmell is expected to enhance operational performance and oversee Cunard's fleet, including the Queen Mary 2. Myrmell succeeds Simon Palethorpe, who departs after six years. Read more.