Royal Caribbean Reports Huge Losses and Realistic About 2021

Royal Caribbean has announced its financial results for fiscal 2020 and provided information on the direction it will take this year.

Not surprisingly, the company suffered huge losses as a result of the pandemic, which was the most difficult period in the company’s history. But all is not bad, the orders are positive.

At the same time, customer feedback on cruises to Singapore and the Canary Islands aboard the partner cruise line TUI/Mein Schiff has been consistently positive.

Painful and deep shock

Royal Caribbean’s CEO and President, Richard D. Fain, has called the past twelve months the most painful in the company’s history. The Royal Caribbean International, Celebrity Cruises and Silverseas brands have been in a state of disarray since the company’s voluntary withdrawal on the 13th. Mars 2020 in a kind of paralysis.

Richard D. Fain, president and chief executive officer, said

The COVID-19 pandemic has had a painful and profound impact on our world and our business community; this crisis is perhaps the most severe in the history of society. We remain confident that our company will recover and return to the positive path it has taken in the past.

The President remains optimistic, believing that the sharp decline in the number of cases and the increase in vaccination rates indicate a rapid resumption of activity:

The sharp decline in the number of cases and the increasing availability of vaccines are encouraging. We are looking forward to showing the world to people again and creating great memories.

While the return to cruising is something to keep an eye on, for now the cruise line is going to focus on its financial performance, which is not good at all.

Photo Credit : Bill Florence / Shutterstock.com

Reservations have been excellent for all three brands. Orders for the first half of 2022 are in line with historical levels. Still, it shows how much people want to return to cruising, as the airline has spent little on marketing or sales.

About 75% of the orders for 2021 are new orders and 25% are from FCC buyouts and the Lift & Shift program. The company continues to offer pending customers the option to request a refund, receive or increase the FCC and defer their reservation until next year.

With the sale of Azamara Cruises last month for $201 million and the withdrawal of the Celebrity Xerience, Majesty of the Seas and Empress of the Seas from the fleet, the company has become more frugal. However, it still intends to deliver several ships in the next 24 months. The finishing touches are still in progress:

  • Sea Odyssey
  • The Silver Dawn
  • Wonders of the Seas
  • Fame on the outside

In 2021, Royal Caribbean still won’t reveal where it might go. With the lack of information from the CDC, the ongoing pandemic and the very volatile situation in the world, we can only hope and see where we will be in three months. Maybe we’ll see more delays, and maybe we’ll see ships leaving US ports again.

Main photo credit : Andy Glenn / Shutterstock.com

frequently asked questions

Will the 2021 cruises be cancelled?

Cruise lines continue to cancel sailings through 2021. (Updated at 12 p.m. ET) — Faced with increasing levels of COVID-19 infection worldwide and unclear guidelines from the U.S. Centers for Disease Control and Prevention, cruise ships have begun to cease sailing well before the first half of 2021.

Will there be cruises in 2021?

Update 8 : Parent company Royal Caribbean Group has announced it will suspend cruises until 2021, with the exception of trial cruises on Quantum of the Seas departing from Singapore. Update 9 : Celebrity Cruises has extended its temporary stay in the United States, and now the cruise ships won’t be back in service until March.

Which Royal Caribbean ships will be refitted in 2021?

The Royal Caribbean Oasis of the Seas will sail to New York in 2020-2021. Royal Caribbean International’s Oasis of the Seas will leave New York for the first time during the 2020 – 2021 cruise season, the cruise line said in its 2020 – 21 deployment plans.

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