Carnival Plc Stock Price, News & Analysis

Carnival Corporation announced a tender offer to acquire up to $2,004,000,000 of its 11.500% First Priority Senior Secured Notes due 2023. The offer commences on July 6, 2021, and will expire on August 2, 2021. Holders can receive a total consideration of $1,142.50 for each $1,000 principal amount of notes tendered by July 19, 2021. This initiative aims to reduce interest expenses and align covenants with a recently repriced Term Loan Facility. The company may not accept notes tendered after the Early Tender/Consent Deadline if the maximum principal amount is reached.

Carnival Cruise Line marked its first cruise departure from PortMiami in almost 16 months with the launch of Carnival Horizon. This resumption is expected to boost the local economy significantly, contributing over $9 billion in direct economic activity and supporting approximately 159,000 jobs statewide. The cruise industry in Florida generates about $7 billion and 40,000 jobs annually in Miami-Dade alone. The return signifies a crucial step in reviving the cruise sector and aiding thousands of workers affected by earlier suspensions.

Princess Cruises has announced its partial summer 2021 Alaska season, featuring immersive experiences through its award-winning 'North to Alaska' program. From July 25 to September 26, guests aboard the Majestic Princess will enjoy local seafood, cultural activities, and unique excursions. Highlights include special Alaska-themed dinners, fishing experiences, and local personalities sharing their stories. The cruises prioritize health and safety, requiring proof of COVID-19 vaccination for guests. Prices start at $799 per person, with various adventure excursions available in Ketchikan, Juneau, and Skagway.

Carnival Corporation reported a net loss of $(2.1) billion for Q2 2021, with adjusted losses at $(2.0) billion. The company ended the quarter with $9.3 billion in cash, believing it sufficient for a full operational return. Customer deposits increased to $2.5 billion, and booking volumes rose 45% compared to Q1 2021. 42 ships, over 50% of capacity, are set to resume operations by November 30, 2021. Aiming for sustainability, Carnival announced 2030 goals and 2050 aspirations. The company also reduced future interest expenses by $120 million annually through refinancing.

Carnival Cruise Line announced plans to expand its fleet by adding two new ships by 2023. The company will take delivery of an Excel-class ship originally assigned to AIDA Cruises and acquire Costa Magica, undergoing a Carnival-branded conversion by mid-2022. This growth is in addition to the upcoming launches of Mardi Gras on July 31 and Carnival Celebration in late 2022, bringing the total fleet to 27 ships by year-end 2023. These new ships will enhance guest experience and improve environmental efficiencies.

Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) announced the resumption of cruise operations for eight brands, including Carnival Cruise Line and Princess Cruises, with enhanced health protocols. By end of fiscal year 2021, 52% of its fleet (42 ships) will be operational. Initial sailings from North America start in July and August, featuring eco-friendly ships like Mardi Gras. The company aims to address pent-up demand, contributing to economic recovery and jobs globally while ensuring the health and safety of guests and crew.

P&O Cruises has outlined its phased restart plan for 2021 and early 2022, with ships like Britannia and Iona commencing Mediterranean and Atlantic coast itineraries starting September 25. The winter season will see Britannia and Azura operating in the Caribbean. A revised vaccination policy mandates all guests aged 18 and over to be fully vaccinated before sailing. Future Cruise Credits will be issued for cancelled cruises, worth 125% of deposits. P&O aims to respond to evolving travel regulations positively, with hopes for open borders in key destinations like Spain and the Caribbean.

Holland America Line is set to restart cruises from Port of San Diego beginning September 2021, offering a total of 40 cruises until April 2022. Two ships, Koningsdam and Zuiderdam, will sail to Mexico, Hawaii, and the California coast, with additional departures included. The company plans to operate four ships in the Caribbean starting October 2021. Vaccination is mandatory for guests, aligning with health protocols. Canceled cruises in Asia and South America will offer options for affected guests, ensuring flexibility.