After Royal Caribbean Cruises Ltd. secured a $2.2 billion
loan facility to improve liquidity with its fleet inactive, an analyst is
saying that other cruise lines should do the same.
“Given that cruise operations could be restricted for
months, it is crucial that businesses secure financing to ensure they can
navigate a period of great uncertainty,” said Ben Cordwell, a travel and
tourism analyst at research firm GlobalData.
GlobalData found that Royal Caribbean has cash and cash
equivalents (liquid assets) of $243.7 million. Norwegian Cruise Line has $225
million. Carnival has $518 million.
It doesn’t appear that the cruise lines will benefit from Congress’
$2 trillion rescue bill that was passed by the Senate on Wednesday. Airlines,
hotels and travel agents will be beneficiaries.
Carnival Corp. told Travel Weekly that the company has not
requested any support from the federal government.
“We did not ask nor expect a cash bailout, but we have been
advocating, along with other cruise lines, for support for travel agents around
the country,” a Carnival spokesman said.
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