Carnival Slips After Cancelling Most Cruises Through July By Investing.com

By Dhirendra Tripathi

Investing.com – Carnival (NYSE:CCL) shares were down 1% in premarket Wednesday following the company’s decision to cancel most cruises through July.

It said it is working on a possible July restart in the U.S. on select ships.

The cruise operator has given its customers the option to cancel without penalty by May 31 and get a full refund.

Last week, Carnival had notified its guests that its ship Splendor’s pause out of Sydney was extended by another month, as it cancelled sailings from August 19 to September 17.

Cruise operators had last month submitted their plans to the U.S. Centers for Disease Control and Prevention for permission to resume operations, with a goal of setting sail from U.S. ports by mid-summer.

Cruise liners have been amongst the hardest hit by the restrictions imposed by several countries last year to control the pandemic. But as vaccinations roll out and life at many places returns to normal, there were hopes that travel and leisure businesses will boom. Those hopes may have to wait a little longer now.