Carnival Corporation & PLC (CCL) stock prices were down 4.35% at the end of the trading day on April 20th, 2021, coming to a close at USD$25.72. Subsequent pre-market fluctuations have seen the stock price climb by 1.09% to hit USD$26 per share.
Recouping from Pandemic
With the global pandemic-led shut down since last year, CCL was hit harder than most companies as the operations of cruise lines came to a prolonged standstill. Recent developments that most of its nine brands will be given the green light to resume sailing in the Summer of 2021, subject to certain limitations, inspire confidence in the company and its investors.
Promising Summer Developments Expected
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AIDA has already commenced sailing from the Canary Islands, while CCL has received promising feedback in regard to its German guest. May will see the resumed sailing of two Cost ships, while UK costal cruising will commence in June and August. July is anticipated to see the sailing of Cunard’s first three ships. Furthermore, CCL announced the provision of ultra-luxury cruises sailing from Greece under Seabourn.
Re-opening Anticipated Before Long
In addition to the commencement of cruises, CCL will also see the re-opening of its hotels and tour operations in Alaska over the course of the Summer of 2021. Reports indicate very promising numbers of cumulative advanced bookings for 2022 as of March 21st 2021, far outperforming the numbers reported in the robust numbers reported for 2019.
Bookings on the Rise
Given that these bookings occurred despite a lack of costs associated with any significant advertising or marketing, they will prove to be especially lucrative. Q1 2021 has seen booking volumes double as compared to Q4 2020. With CCL anticipating dynamic development of the situation over the next year, the indicated demand so far has boosted company and investor confidence.
Addition to CCL Fleets
A promising development during the otherwise extremely stale pandemic has been the addition of the Enchanted Princess ship to the global fleet of Princess Cruises. Weighing in at 145,000 tonnes, this was the first vessel that was completed and delivered during the ongoing pandemic. Boasting a capacity of 3,660 guests and offering luxury Sky suits a plethora of entertainment venues, pools and whirlpool hot tubs, the ship is expected to be extremely lucrative for the company once it commences sailing.
Bright Future Ahead of CCL?
Given how CCL is the largest cruise operator in the world and has historically been the most profitable, investors are hopeful for a return to its pre-pandemic glory as pandemic restrictions ease up. Despite a harrowing past year CCL finds itself still able to stand on its own two feet and is poised to capitalize on the resuming of cruise lines, thus facilitating the growth in shareholder value.