Carnival Warns of Loss as Coronavirus Outbreak Wrecks Travel Demand

By Yasin Ebrahim 

Carnival said it believes the ongoing effects of Covid-19 on its global bookings and operations will have a material negative impact on its financial results even as the company takes steps to improve its liquidity, including cost cuts. The company reported net income of $3 billion for fiscal 2019.

The company suspended global fleet cruise operations temporarily, adding Continental Europe and North American fleet cruise operations to the list of suspensions.

Shares plunged 17% in regular-session trading and edged up 2% after hours.

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