The pandemic effects keep on hitting various industries, with American Airlines and United Airlines announcing last week that they would furlough 32,000 people to keep themselves afloat. Now, a significant company in the cruise sector – Carnival Cruise Lines – has decided to take cost-cutting measures.
The company announced that it would cancel all the remaining cruises for November. The canceled trips are between PortMiami and Port Canaveral. Carnival is following the Centers for Disease Control and Prevention's advice not to organize cruises after the October 31 deadline. Also, Cruise determined that it "will not be feasible" for it to operate.
Besides the American trips, those scheduled to depart from Sydney, between January 16 to February 8 have also been canceled.
During today's trading session, Carnival's share price dropped 2.3%. Year-to-date, Carnival stock price lost 69.8%, while USA500 went up 8.5%.
Read all about what happened in the aviation industry here!
Sources: marketwatch.com, finance.yahoo.com