Disney raises $11 billion in debt amid coronavirus crisis, as Shanghai park returns

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Disney raises $11 billion in debt amid coronavirus crisis, as Shanghai park returns
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Disney's CEO Bob Chapek says he's 'encouraged' by early ticket sales for Shanghai Disneyland.

Disney has furloughed much of its staff and cut executive salaries. The impacts on Hollywood’s dominant company could be long-lasting.The Chinese government has mandated that the parks operate at 30% capacity, or 24,000 guests. Disney CEO Bob Chapek this month signaled that the park would reopen at far below those levels at it gradually tries to return to normal business. The park is also requiring masks for attendees and employees.

“This is a first step, it’s a baby step, but we’re very encouraged by what we’re seeing in Shanghai,” Chapek said. Parks remain closed in Tokyo, Hong Kong, Paris and the U.S. The company has not said when it might reopen the rest of its parks business.

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