Cruise giant Royal Caribbean made mega losses in 2020

The corona pandemic caused enormous losses for the cruise company Royal Caribbean last year. Overall, Royal Caribbean went into the red in 2020 with 5.8 billion dollars (4.8 billion euros), while the bottom line was a minus of 1.4 billion in the final quarter. “This crisis is the most difficult in the history of our company,” admitted the tourism giant in Miami on Monday. Revenues fell by around 80 percent in 2020 to $ 2.2 billion.

The annual report was still well received on the stock exchange, with the share increasing by more than ten percent in US trading. Because confidence that the crisis will end is increasing. The number of new bookings has already risen sharply since the beginning of the year, and a lot of demand has apparently built up during the pandemic, the management said in a conference call after the balance sheet was presented. The prospect of a comeback in the industry also made the shares of competitors such as Aida mother Carnival and Norwegian Cruise Line soar.

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