CARNIVAL TO RESUME TRIPS IN PHASES WITH SMALLER FLEET

Carnival Corp said Friday it was planning to resume operations in a phased manner and would operate with a smaller fleet on its return, months after suspending trips due to the COVID-19 pandemic. The company’s shares, which have lost more than two-thirds of their value this year, closed up 10.84 per cent at us$16.16 in Friday trading. The world’s largest cruise operator said it has reduced capital expenditures by more than us$5 billion over the next 18 months and raised a couple more billions to navigate through the virus outbreak. The cruise business has been one of the worst hit after several ships became coronavirus hot spots. The company expects future capacity to be moderated, while some ships could be removed and new deliveries would be delayed, Carnival added.