Carnival Corporation to sell $1 billion in stocks due to the Coronavirus crisis

   February 23, 2021 ,   Cruise Industry

With passenger shipping operations still paused fleetwide, Carnival Corporation (world's largest cruise shipowner) announced Monday afternoon, February 22, that it would sell USD 1 billion in fresh stocks as its liners remain permanently docked due to the pandemic.

In January, Carnival extended its cancellation of ex-USA departures through early-May 2021, also canceling cruises scheduled for Europe and Australia-NZ. The Corporation recently announced the scheduled resumption of Italian departures.

While Carnival stock (CCL) declined 37,7% in 2020, shares gained over 77% in the past 6 months, and ~50% in the past 3 months.

Carnival has mostly relied on debt offerings to get through the crisis, including a USD 3,5 billion debt offering earlier in February 2021.