Royal Caribbean Group reported a bigger-than-expected quarterly loss on Monday, as the cruise operator suffered from a coronavirus-driven halt to sailings that is now on course to last deep into the second half of 2020.
FILE PHOTO: A Royal Caribbean International cruise ship is seen at Circular Quay in Sydney Harbour, in Sydney, Australia, March 18, 2020. REUTERS/Loren Elliott
The company’s shares, which have lost over 60% of their value this year, fell nearly 2% in premarket trading. Royal Caribbean, which has pledged dozens of ships to raise billions of dollars of new debt, said it had about $4.1 billion in cash and cash equivalents at the end of June.
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