(Reuters) – Royal Caribbean Group missed market estimates for quarterly revenue on Friday, as people continue to remain apprehensive about going on cruises due to fears of contracting COVID-19.
Cruise ships have been sailing from U.S. ports again since late June with mostly vaccinated guests and crew, but some onboard cases and a spike in COVID-19 infections have raised worries about the industry’s fortunes in the near term.
Analysts expect pent-up demand and strong household savings to aid the recovery of the cruise industry. However, with just over half of the U.S. population fully vaccinated and ships operating at reduced occupancy, a full recovery will take more time.
Total revenue was about $457 million in the third quarter ended Sept. 30, versus estimates of $567 million, according to Refinitiv IBES.
Net loss attributable to Royal Caribbean was $1.42 billion, compared with $1.35 billion a year earlier.
(Reporting by Praveen Paramasivam in Bengaluru; Editing by Krishna Chandra Eluri)
