Royal Caribbean Cruise shut down for 30 days

Royal Caribbean Cruise shut down for 30 days

Royal Caribbean Cruises Ltd. announced today that it is suspending cruising in the United States for 30 days. The official statement that was issued reads:

“We understand the gravity of the public health crisis confronting the country. And this is our part to play. So, beginning at midnight tonight, we are pausing the fleet’s US sailings for 30 days.

“We are reaching out to our guests to help them work through this disruption to their vacations, and we are truly sorry for their inconvenience. We are also communicating with our crew to work out the issues this decision presents for them. We know this adds great stress to our guests, employees and crew, and we are working to minimize the disruption.

“Our business is providing great vacations and creating great memories. We look forward to getting back to work as soon as we can.”

It was just 3 days ago that Royal Caribbean Cruises had announced that it had increased its revolving credit capacity by $550 million to bolster the company’s liquidity in response to the rapid and severe development from the COVID-19 coronavirus pandemic.

The company is pursuing additional actions to improve its liquidity by reducing capital expenditures, operating expenses, and taking other actions to improve liquidity by at least a further $1.7 billion in 2020. The company is also planning reductions to the 2021 capital expenditures and operating expenses.

“These are extraordinary times and we are taking these steps to manage the company prudently and conservatively,” said Richard D. Fain, chairman and CEO.  “I am proud of the work our teams are doing to address this unprecedented situation.”

To date, there have been 141,401 cases of COVID-19 reported with 70,655 who have recovered. Out of the 195 countries in the world, 116 have reported virus activity. 5,371 have died from coronavirus.

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