Carnival
Corporation & plc Provides Third Quarter 2021 Business
Update
MIAMI, Sept. 24, 2021 /PRNewswire/ -- Carnival
Corporation & plc (NYSE/LSE: CCL; NYSE: CUK) provides third
quarter 2021 business update.
- U.S. GAAP net loss of $2.8
billion and adjusted net loss of $2.0
billion for the third quarter of 2021.
- Third quarter 2021 ended with $7.8
billion of liquidity, which the company believes is
sufficient to return to full cruise operations.
- Voyages for the third quarter of 2021 were cash flow
positive and the company expects this to continue.
- As of August 31, 2021, eight
of the company's nine brands have resumed guest operations as part
of its gradual return to service.
- Booking volumes for all future cruises during the third
quarter of 2021 were higher than booking volumes during the first
quarter of 2021, albeit not as robust as the second quarter of
2021, primarily as a result of lower booking volumes in
August 2021, reflecting the impact on
overall U.S. consumer confidence resulting from heightened
uncertainty around the COVID-19 Delta variant.
- Cumulative advanced bookings for the second half of 2022 are
ahead of a very strong 2019.
- Customer deposits increased $630
million in the third quarter of 2021, marking the second
consecutive quarter since March 2020
the company has seen an increase in customer deposits.
- Through its debt management efforts, the company has reduced
future annual interest expense by over $250
million per year and has completed cumulative debt principal
payment extensions of approximately $4.0
billion, improving its future liquidity position.
- The company recently released its Sustainability Report
detailing its 2030 sustainability goals and 2050 sustainability
aspirations.
Third Quarter 2021 Results and
Statistical Information
Carnival Corporation & plc President and Chief Executive
Officer Arnold Donald noted, "We are
very glad to be back doing what we do best, delivering memorable
vacation experiences for our guests, while doing so in a way that
best serves the interests of public health. Our team members are
executing exceptionally well on our return to service, exceeding
the expectations of our guests and taking guest satisfaction to new
heights. Even at this early stage with intentionally constrained
occupancy levels, our voyages are already cash flow positive."
- Voyages for the third quarter of 2021 were cash flow positive
and the company expects this trend to continue.
- For the cruise segments, revenue per passenger cruise day
("PCD") for the third quarter of 2021 increased compared to a
strong 2019, despite the current constraints on itinerary
offerings, which did not include many of the destination rich
itineraries offered in 2019. The increase was driven in part by
exceptionally strong onboard and other revenue.
- Occupancy in the third quarter of 2021 was 54%, building
consistently month-to-month from 39% in June to 59% in August.
- Available lower berth days ("ALBD") for the third quarter of
2021 were 3.8 million, which represents 17% of total fleet
capacity. ALBDs are expected to be 10.3 million for the fourth
quarter of 2021, which represents 47% of total fleet capacity.
Donald noted, "Beyond the enthusiasm of our guests and crew and
the unprecedented net promoter scores, it is difficult to
demonstrate just how successful our restart effort has been because
many cruises, while generating positive cash flow, were limited to
scenic cruises without ports of call, and generally priced well
below the attractive destination rich cruises we normally offer.
Carnival Cruise Line resumed operations in July offering
Caribbean and Alaska sailings somewhat comparable to prior
years and achieved 20% higher revenue per PCD than 2019 peak
levels, despite onboard credits from cancelled cruises. Even with
the unusually short booking window and capacity limitations, the
brand achieved occupancy of approximately 70%, which speaks to the
strong underlying demand for our core product."
The company's monthly average cash burn rate for the third
quarter of 2021 was $510 million,
which was better than previous guidance and in line with the
$500 million monthly average cash
burn rate for the first half of 2021. The monthly average cash burn
rate includes revenues earned on voyages, ongoing ship operating
and administrative expenses, restart spend, working capital changes
(excluding changes in customer deposits), interest expense and
capital expenditures (net of export credit facilities), and
excludes scheduled debt maturities as well as other cash collateral
to be provided.
As the company continues its return to service, it expects to
continue incurring incremental restart related spend, including the
cost of returning ships to guest cruise operations, returning crew
members to its ships and maintaining enhanced health and safety
protocols. The company expects the monthly average cash burn rate
for the fourth quarter to be higher than the prior quarters of
2021, due to the timing of incremental restart expenditures.
The gradual resumption of the company's guest cruise operations
continues to have a material impact on all aspects of its business,
including the company's liquidity, financial position and results
of operations. The company expects a net loss on both a U.S. GAAP
and adjusted basis for the quarter and year ending November 30, 2021.
Resumption of Guest Cruise
Operations
Donald added, "Being the largest in our industry, it is not
surprising that we are now successfully operating at a larger scale
than anyone else in the industry. Our protocols have been working
well and are enabling us to build occupancy levels as we return
more ships to service. Looking forward, we continue to work towards
resuming full guest cruise operations by next spring, in time for
our important summer season, where we make the bulk of our
operating profit."
As of August 31, 2021, eight of
the company's nine brands have resumed guest cruise operations as
part of its gradual return to service, with 35% of its capacity
operating with guests on board. The company has already announced
plans to resume guest cruise operations with 50 ships, or 61% of
its capacity, by November 30, 2021
and 71 ships, or 75% of its capacity, by June 2022, with more announcements forthcoming
for the remaining ships. For more detailed information on the
resumption of guest cruise operations, refer to the Ships in
Service and Announced Restarts by Brand tables at the end of this
release.
Consistent with its planned gradual resumption of guest cruise
operations, the company continues to expect to have its full fleet
back in operation in the spring of 2022. While the company will
benefit from the disposal of 19 smaller, less efficient ships since
the beginning of the pause in guest cruise operations, the company
is forecasting its ship operating expenses, on a per ALBD basis,
for 2022 to be higher than 2019. This is driven by a portion of its
fleet being in pause status for part of the year, restart related
expenses and the cost of maintaining enhanced health and safety
protocols.
The company has worked closely with health and medical experts
globally and nationally, as well as with authorities in destination
countries, to put in place comprehensive health and safety
protocols for protection against and mitigation of COVID-19 across
the entire cruise experience for all of the company's nine brands.
This includes cross-industry learnings and best practices based on
the proven health and safety record of industry-wide sailings, and
input from top scientists and public health, epidemiological and
policy experts. Protocols have been and will continue to be updated
based on evolving scientific and medical knowledge related to
mitigation strategies. Details about enhanced protocols, including
the latest information and requirements for each of the company's
brands, is available on their website.
Update on Bookings
Donald added, "Our booked position for the second half of 2022
is at a new historical high, including our seasonally strong third
quarter with all our ships planned to be in operation, despite
reduced marketing spending. The broader environment for travel,
while choppy, has improved dramatically since last summer and we
believe it should improve even further by next summer, if the
current trend of vaccine roll outs and advancements in therapies
continues. We have also opened bookings for further out cruises in
2023, with unprecedented early demand."
Booking volumes for all future cruises during the third quarter
of 2021 were higher than booking volumes during the first quarter
of 2021, albeit not as robust as the second quarter of 2021,
primarily as a result of lower booking volumes in August 2021, reflecting the impact on overall
U.S. consumer confidence resulting from heightened uncertainty
around the COVID-19 Delta variant. Cumulative advanced bookings for
the second half of 2022 are ahead of a very strong 2019 as of
August 31, 2021. (Due to the gradual
resumption in guest cruise operations, the company's current
booking trends will be compared to booking trends for 2019
sailings.)
Total customer deposits increased $630
million to $3.1 billion as of
August 31, 2021 from $2.5 billion as of May 31, 2021. For the second consecutive quarter
since March 2020, the company has
continued to see an increase in customer deposits.
Refinancing
Carnival Corporation & plc Chief Financial Officer
David Bernstein noted, "We ended the
third quarter with $7.8 billion of
liquidity. We believe we have sufficient liquidity to get us back
to full operations and continue to be focused on pursuing
refinancing opportunities to reduce interest rates and extend
maturities. To date, through our debt management efforts, we have
reduced our future annual interest expense by over $250 million per year and have completed
cumulative debt principal payment extensions of approximately
$4.0 billion, improving our future
liquidity position."
During the third quarter of 2021 the company:
- Completed the repricing of its first-priority senior secured
term loan facility, reducing the overall interest rate and future
annual interest expense by over $120
million per year.
- Completed additional European Debt Holiday amendments,
resulting in cumulative deferred principal of $1.7 billion.
- Issued $2.4 billion of new bonds
and repaid $2.0 billion of existing
higher rate debt, effectively extending maturities to 2028 and
reducing interest expense by $135
million annually.
- Under the stock swap program, repurchased 4.6 million shares of
Carnival plc ordinary shares with the proceeds from selling the
same amount of Carnival Corporation's common stock, increasing
liquidity by $10 million as a result
of the difference in market price for the company's two
listings.
As of August 31, 2021, the
company's outstanding debt maturities are as follows:
(in billions) |
|
4Q 2021 |
|
1Q 2022 |
|
2Q 2022 |
|
3Q 2022 |
|
4Q 2022 |
Principal payments on outstanding debt (a) |
|
$ |
0.2 |
|
|
$ |
0.3 |
|
|
$ |
0.4 |
|
|
$ |
0.4 |
|
|
$ |
1.3 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) |
Excluding the revolving credit
facility. As of August 31, 2021, borrowings under the revolving
credit facility were
$3.1 billion. |
Sustainability Update
Donald continued, "We are very pleased to affirm our ongoing
commitment to sustainability through the recent publication of our
11th annual Sustainability Report, Sustainable from Ship
to Shore."
Recently, the company released its Sustainability Report,
developed in accordance with the widely recognized Global Reporting
Initiative ("GRI") standard, detailing its 2030 sustainability
goals and 2050 sustainability aspirations. For the first time, the
company has incorporated two additional disclosure frameworks, the
Sustainability Accounting Standards Board ("SASB") and the Task
Force on Climate-Related Financial Disclosures ("TCFD") into its
sustainability report.
The company is proud of the achievement of its 2020
sustainability goals and the progress it has made to date on
managing its carbon footprint, improving resource efficiency and
strengthening its workforces and communities. To build on these
achievements, the company's latest report establishes a full suite
of new sustainability goals for 2030 and aspirations for 2050 in
six focus areas, which were initially announced in June 2021 as a preview of the company's strategic
direction for sustainability efforts over time. The six critical
focus areas which are aligned with the United Nations Sustainable
Development Goals are:
- Climate action
- Circular economy
- Sustainable tourism
- Good health and well-being
- Diversity, equity and inclusion
- Biodiversity and conservation
In each focus area, the company has specified goals, targets and
aspirations that guide its strategy to further strengthen the
Environmental, Social and Governance performance of the
organization. The company's 2050 sustainability aspirations are
aligned with the Paris Agreement on climate change, and its
aspiration to achieve net carbon-neutral ship operations exceeds
the International Maritime Organization ("IMO") goal of 50%
absolute emission reduction by 2050. For more detailed information
on the company's 2030 goals and 2050 aspirations, see the company
report issued on www.carnivalsustainability.com.
Other Recent Highlights
- Costa Firenze, Costa
Cruises' newest ship, departed on its maiden voyage from the port
of Savona.
- Holland America Line took
delivery of Rotterdam,
becoming the 11th ship in its fleet.
- Mardi Gras, Carnival
Cruise Line's newest and most innovative ship and the first cruise
ship in the Americas to be powered by eco-friendly Liquefied
Natural Gas ("LNG"), departed on its maiden voyage from Port
Canaveral.
- Iona, P&O Cruises' (UK) newest and most innovative
ship and the first cruise ship in the UK to be powered by LNG,
departed on its maiden voyage from Southampton, England.
- Carnival Corporation celebrates the 20th anniversary
of Princess Cruises' history-making shore power, its revolutionary
program, which paved the way for shore power availability at 15
ports and growing.
- Seabourn was named the top cruise line for 2021 by the readers
of Travel + Leisure in the magazine's annual World's Best
Awards.
- Carnival Corporation announced a new initiative to facilitate
access to pre-cruise COVID-19 viral testing for guests of Carnival
Cruise Line, Holland America Line, Princess Cruises and Seabourn at
more than 1,500 convenient Quest Diagnostics patient service
centers and retail pharmacy testing locations throughout the
U.S.
Explanation of Statistical
Information
ALBD is a standard measure of passenger capacity for the
period that we use to approximate rate and capacity variances,
based on consistently applied formulas that we use to perform
analyses to determine the main non-capacity driven factors that
cause our cruise revenues and expenses to vary. ALBDs assume that
each cabin we offer for sale accommodates two passengers and is
computed by multiplying passenger capacity by revenue-producing
ship operating days in the period.
PCD represents the number of cruise passengers on a voyage
multiplied by the number of revenue-producing ship operating days
for that voyage.
Conference Call
The company has scheduled a conference call with analysts at
10:00 a.m. EDT (3:00 p.m. BST) today to discuss its business
update. This call can be listened to live, and additional
information can be obtained, via Carnival Corporation & plc's
website at www.carnivalcorp.com and www.carnivalplc.com.
Carnival Corporation & plc is one of the world's
largest leisure travel companies with a portfolio of nine of the
world's leading cruise lines. With operations in North
America, Australia, Europe and Asia, its portfolio features – Carnival Cruise
Line, Princess Cruises, Holland America Line, P&O
Cruises (Australia),
Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK)
and Cunard.
Additional information can be found on www.carnivalcorp.com,
www.carnivalsustainability.com, www.carnival.com,
www.princess.com, www.hollandamerica.com,
www.pocruises.com.au, www.seabourn.com,
www.costacruise.com, www.aida.de, www.pocruises.com and
www.cunard.com.
Cautionary Note Concerning Factors
That May Affect Future Results
Some of the statements, estimates or projections contained in
this document are "forward-looking statements" that involve risks,
uncertainties and assumptions with respect to us, including some
statements concerning future results, operations, outlooks, plans,
goals, reputation, cash flows, liquidity and other events which
have not yet occurred. These statements are intended to qualify for
the safe harbors from liability provided by Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934, as amended. All statements other than statements of
historical facts are statements that could be deemed
forward-looking. These statements are based on current
expectations, estimates, forecasts and projections about our
business and the industry in which we operate and the beliefs and
assumptions of our management. We have tried, whenever possible, to
identify these statements by using words like "will," "may,"
"could," "should," "would," "believe," "depends," "expect," "goal,"
"anticipate," "forecast," "project," "future," "intend," "plan,"
"estimate," "target," "indicate," "outlook," and similar
expressions of future intent or the negative of such terms.
Forward-looking statements include those statements that relate
to our outlook and financial position including, but not limited
to, statements regarding:
|
- Goodwill, ship and trademark fair values
|
|
- Liquidity and credit ratings
|
|
- Adjusted earnings per share
|
- Interest, tax and fuel expenses
|
- Return of guest cruise operations
|
|
- Impact of the COVID-19 coronavirus global
pandemic on our financial condition and results
of operations
|
- Estimates of ship depreciable lives and residual
values
|
Because forward-looking statements involve risks and
uncertainties, there are many factors that could cause our actual
results, performance or achievements to differ materially from
those expressed or implied by our forward-looking statements. This
note contains important cautionary statements of the known factors
that we consider could materially affect the accuracy of our
forward-looking statements and adversely affect our business,
results of operations and financial position. Additionally, many of
these risks and uncertainties are currently amplified by and will
continue to be amplified by, or in the future may be amplified by,
the COVID-19 outbreak. It is not possible to predict or identify
all such risks. There may be additional risks that we consider
immaterial or which are unknown. These factors include, but are not
limited to, the following:
- COVID-19 has had, and is expected to continue to have, a
significant impact on our financial condition and operations, which
impacts our ability to obtain acceptable financing to fund
resulting reductions in cash from operations. The current, and
uncertain future, impact of the COVID-19 outbreak, including its
effect on the ability or desire of people to travel (including on
cruises), is expected to continue to impact our results,
operations, outlooks, plans, goals, reputation, litigation, cash
flows, liquidity, and stock price.
- World events impacting the ability or desire of people to
travel have and may continue to lead to a decline in demand for
cruises.
- Incidents concerning our ships, guests or the cruise vacation
industry as well as adverse weather conditions and other natural
disasters have in the past and may, in the future, impact the
satisfaction of our guests and crew and lead to reputational
damage.
- Changes in and non-compliance with laws and regulations under
which we operate, such as those relating to health, environment,
safety and security, data privacy and protection, anti-corruption,
economic sanctions, trade protection and tax have in the past and
may, in the future, lead to litigation, enforcement actions, fines,
penalties and reputational damage.
- Breaches in data security and lapses in data privacy as well as
disruptions and other damages to our principal offices, information
technology operations and system networks, including the recent
ransomware incidents, and failure to keep pace with developments in
technology may adversely impact our business operations, the
satisfaction of our guests and crew and may lead to reputational
damage.
- Ability to recruit, develop and retain qualified shipboard
personnel who live away from home for extended periods of time may
adversely impact our business operations, guest services and
satisfaction.
- Increases in fuel prices, changes in the types of fuel consumed
and availability of fuel supply may adversely impact our scheduled
itineraries and costs.
- Fluctuations in foreign currency exchange rates may adversely
impact our financial results.
- Overcapacity and competition in the cruise and land-based
vacation industry may lead to a decline in our cruise sales,
pricing and destination options.
- Inability to implement our shipbuilding programs and ship
repairs, maintenance and refurbishments may adversely impact our
business operations and the satisfaction of our guests.
The ordering of the risk factors set forth above is not intended
to reflect our indication of priority or likelihood.
Forward-looking statements should not be relied upon as a
prediction of actual results. Subject to any continuing obligations
under applicable law or any relevant stock exchange rules, we
expressly disclaim any obligation to disseminate, after the date of
this document, any updates or revisions to any such forward-looking
statements to reflect any change in expectations or events,
conditions or circumstances on which any such statements are
based.
CARNIVAL
CORPORATION & PLC
NON-GAAP FINANCIAL MEASURES |
|
|
Three Months
Ended
August 31, |
|
Nine Months
Ended
August 31, |
(in millions) |
2021 |
|
2020 |
|
2021 |
|
2020 |
Net income (loss) |
|
|
|
|
|
|
|
U.S. GAAP net income
(loss) |
$ |
(2,836) |
|
|
$ |
(2,858) |
|
|
$ |
(6,881) |
|
|
$ |
(8,014) |
|
(Gains) losses on ship
sales and impairments |
472 |
|
|
937 |
|
|
510 |
|
|
3,819 |
|
(Gains) losses on debt extinguishment, net |
376 |
|
|
220 |
|
|
372 |
|
|
220 |
|
Restructuring
expenses |
2 |
|
|
3 |
|
|
5 |
|
|
42 |
|
Other |
— |
|
|
— |
|
|
17 |
|
|
3 |
|
Adjusted net income
(loss) |
$ |
(1,986) |
|
|
$ |
(1,699) |
|
|
$ |
(5,976) |
|
|
$ |
(3,930) |
|
Explanations of Non-GAAP Financial
Measures
Non-GAAP Financial Measures
We use adjusted net income (loss) as a non-GAAP financial
measure of our cruise segments' and the company's financial
performance. This non-GAAP financial measure is provided along with
U.S. GAAP net income (loss).
We believe that gains and losses on ship sales, impairment
charges, gains and losses on debt extinguishments, restructuring
costs and other gains and losses are not part of our core operating
business and are not an indication of our future earnings
performance. Therefore, we believe it is more meaningful for these
items to be excluded from our net income (loss), and accordingly,
we present adjusted net income (loss) excluding these items.
The presentation of our non-GAAP financial information is not
intended to be considered in isolation from, as a substitute for,
or superior to the financial information prepared in accordance
with U.S. GAAP. It is possible that our non-GAAP financial measures
may not be exactly comparable to the like-kind information
presented by other companies, which is a potential risk associated
with using these measures to compare us to other companies.
Ships in Service
and Announced Restarts by Brand |
|
Number
of Ships |
|
Passenger Capacity
(Lower Berths) |
|
% of Brand
Capacity |
|
% of Total
Capacity
(a) |
North America and Australia ("NAA")
Brands |
|
|
|
|
|
|
|
Carnival Cruise Line |
17 |
|
|
54,630 |
|
|
73 |
% |
|
|
Princess Cruises |
10 |
|
|
31,260 |
|
|
68 |
% |
|
|
Holland America Line |
11 |
|
|
22,890 |
|
|
100 |
% |
|
|
P&O Cruises
(Australia) |
— |
|
|
— |
|
|
— |
|
|
|
Seabourn |
6 |
|
|
2,840 |
|
|
100 |
% |
|
|
|
44 |
|
|
111,620 |
|
|
|
|
73 |
% |
|
|
|
|
|
|
|
|
Europe and Asia ("EA") Brands |
|
|
|
|
|
|
|
Costa Cruises |
8 |
|
|
30,170 |
|
|
72 |
% |
|
|
AIDA Cruises |
10 |
|
|
26,800 |
|
|
74 |
% |
|
|
P&O Cruises (UK) |
6 |
|
|
19,000 |
|
|
100 |
% |
|
|
Cunard |
3 |
|
|
6,820 |
|
|
100 |
% |
|
|
|
27 |
|
|
82,790 |
|
|
|
|
80 |
% |
|
71 |
|
|
194,410 |
|
|
|
|
75 |
% |
|
|
|
|
|
|
|
|
(a) NAA Brands capacity for 60 ships,
EA Brands capacity for 35 ships, total company capacity for 95
ships, including newbuild deliveries through June 2022 |
Ships in Service and
Announced Restarts by Ship |
in Order of Actual
or Announced Restart Date |
|
Ship Name |
|
Passenger Capacity
(Lower Berths) |
March 2021 |
|
|
|
|
AIDAperla |
|
3,280 |
|
|
|
|
May 2021 |
|
|
|
|
Costa Smeralda |
|
5,220 |
|
Costa Luminosa |
|
2,260 |
|
AIDAsol |
|
2,190 |
|
AIDAblu |
|
2,200 |
|
|
|
|
June 2021 |
|
|
|
|
Costa Deliziosa |
|
2,260 |
|
Britannia |
|
3,640 |
|
|
|
|
July 2021 |
|
|
|
|
Seabourn Ovation |
|
600 |
|
Carnival Vista |
|
3,930 |
|
Costa Firenze |
|
4,240 |
|
Carnival Horizon |
|
3,960 |
|
AIDAprima |
|
3,280 |
|
Carnival Breeze |
|
3,690 |
|
Seabourn Odyssey |
|
460 |
|
Nieuw Amsterdam |
|
2,100 |
|
Majestic Princess |
|
3,560 |
|
Carnival Miracle |
|
2,120 |
|
AIDAstella |
|
2,200 |
|
Regal Princess |
|
3,560 |
|
Mardi Gras |
|
5,280 |
|
AIDAmar |
|
2,190 |
|
|
|
|
August 2021 |
|
|
|
|
Iona |
|
5,200 |
|
Carnival Magic |
|
3,690 |
|
Queen Elizabeth |
|
2,080 |
|
Carnival Sunrise |
|
2,980 |
|
Eurodam |
|
2,100 |
|
Carnival Panorama |
|
4,010 |
|
Sky Princess |
|
3,660 |
|
|
|
|
September 2021 |
|
|
|
|
AIDAluna |
|
2,080 |
|
Carnival Pride |
|
2,120 |
|
Carnival Glory |
|
2,980 |
|
Carnival Dream |
|
3,640 |
|
Costa Diadema |
|
3,690 |
|
Grand Princess |
|
2,600 |
|
|
|
|
October 2021 |
|
|
|
|
Ventura |
|
3,080 |
|
Carnival Freedom |
|
2,980 |
|
Koningsdam |
|
2,650 |
|
Carnival Elation |
|
2,190 |
|
Emerald Princess |
|
3,090 |
|
AIDAdiva |
|
2,070 |
|
Rotterdam |
|
2,670 |
|
Ruby Princess |
|
3,080 |
|
|
|
|
November 2021 |
|
|
|
|
Carnival Valor |
|
2,980 |
|
AIDAbella |
|
2,080 |
|
Enchanted Princess |
|
3,660 |
|
Carnival Legend |
|
2,120 |
|
Nieuw Statendam |
|
2,660 |
|
Queen Mary 2 |
|
2,680 |
|
Caribbean Princess |
|
3,140 |
|
Costa Fascinosa |
|
2,980 |
|
|
|
|
December 2021 |
|
|
|
|
Azura |
|
3,080 |
|
Carnival Radiance |
|
2,980 |
|
Carnival Conquest |
|
2,980 |
|
AIDAnova |
|
5,230 |
|
Zuiderdam |
|
1,960 |
|
|
|
|
February 2022 |
|
|
|
|
Aurora |
|
1,910 |
|
|
|
|
March 2022 |
|
|
|
|
Costa Toscana |
|
5,320 |
|
Noordam |
|
1,970 |
|
Arcadia |
|
2,090 |
|
|
|
|
April 2022 |
|
|
|
|
Seabourn Venture |
|
260 |
|
Seabourn Encore |
|
600 |
|
Queen Victoria |
|
2,060 |
|
Island Princess |
|
2,210 |
|
Diamond Princess |
|
2,700 |
|
|
|
|
May 2022 |
|
|
|
|
Volendam |
|
1,430 |
|
Oosterdam |
|
1,960 |
|
Costa Venezia |
|
4,200 |
|
Westerdam |
|
1,960 |
|
Seabourn Quest |
|
460 |
|
Zaandam |
|
1,430 |
|
|
|
|
June 2022 |
|
|
|
|
Seabourn Sojourn |
|
460 |
|
|
|
|
CONTACT: MEDIA: Roger Frizzell,
+1 305 406 7862; INVESTOR RELATIONS CONTACT: Beth Roberts, +1 305 406 4832