February 27, 2024

The cruise ships “Carnival Sunrise” (L) and “Carnival Vista” (R), which are part of the Carnival Cruise Line, will be moored on a quay in the port of Miami, Florida on December 23, 2020 amid the coronavirus pandemic. (Photo by Daniel SLIM / AFP) (Photo by DANIEL SLIM / AFP via Getty Images)

DANIEL SLIM | AFP | Getty Images

Carnival Corporation posted a 45% increase in booking volume in the second quarter of this year compared to the first quarter, the cruise operator announced in a business update on Thursday

Carnival also said its 2022 cumulative advance bookings are ahead of 2019 bookings, suggesting the company expects a solid return to business after the pandemic shuts down the cruise industry.

However, Carnival reported an adjusted net loss of $ 2 billion for the second quarter of 2021. It also expects an adjusted net loss for the third quarter and full year.

The company’s monthly cash burn rate for the first half of 2021 was $ 500 million.

Due to multiple outbreaks on board cruise lines over the past year, the cruise industry was one of the last sectors to resume operations.

The Centers for Disease Control and Prevention allowed cruises to return this year with strict safety protocols and requirements to prevent outbreaks from occurring on board.

Carnival has resumed sailing or announced that it will resume sailing 42 ships from eight of the company’s nine cruise brands by the end of November this year.

“We are working aggressively on our way to get our entire fleet back into operation by next spring. So far we have announced that 42 ships, which represent more than half of our capacity, will be serving guests again by the end of the financial year.” said Arnold Donald, President and CEO of Carnival Corporation, in a press release.

Cruise ship stocks are slowly rebounding this year after suffering huge losses during the pandemic.

Carnival stocks were down more than 2% on Thursday. Carnival’s stock is up 28% this year and has a market cap of just over $ 27 billion.