Skift Take
Cruise lines have changed the date of their return to service multiple times now, and Royal Caribbean is no different. Despite selling cruises for the summer period, executives don't seem particularly bullish on the prospect of a full return to service in the near term.
Royal Caribbean Cruises Ltd, the world's second largest cruise company, reported its first quarter earnings on Wednesday, sustaining a wider loss than analysts expected and delaying a return to sailing for a third time.
The cruise line reported a net loss of $1.4 billion, or $6.91 per share, compared to $249.7 million net income and $1.19 earnings per share gain in the same quarter last year. Revenue fell 17 percent to $2.03 billion.
The company sustained a non-cash asset impairment loss of $1.1 billion, which it said was entirely due to Covid-19. It has withdrawn its guidance for 2020 as well as the second quarter, but said it expects to incur a loss on both timescales, "the extent of which will depend on the timing and extent of our return to service."
On the return to service, the company had pr
