Listed majors’ net losses increased in third quarter

Listed majors’ net losses increased in third quarterThe three largest listed cruise groups continued to book massive losses in the third quarter of 2021 despite gradual resumption of operations, figures released by the companies show.

The combined net losses of Carnival Corporation & plc (CCL), Royal Caribbean Group (RCG), and Norwegian Cruise Line Holdings Ltd (NCLH) increased to $5.1 billion in the third quarter, from $4.87 billion in the corresponding period of last year.

NET LOSSES (US GAAP) (in million USD)

Company 3Q21  3Q20
Carnival 2,836 2,858
Royal Caribbean Group 1,425 1,339
NCLH 845 677

Source: CCL, RCG, & NCLH

The resumption of operations caused the operating costs to rise sharply, as ships need to be prepared for service, crewed, provisioned, and even dry-docked.

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