Royal Caribbean’s Celebrity Cruises suspends Australia, New Zealand cruises through year end

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Royal Caribbean Group said Tuesday it’s Royal Caribbean International cruise line has decided to suspend all sailing departing from Australia and New Zealand through Dec. 31. Separately, the company’s Celebrity Cruises line will be suspending its full 2020/2021 Winter program in Australia and Asia, while the Azamara line will be suspending its 2020/2021 Winter sailings throughout Australia, New Zealand, South Africa and South America. As a result, the company said it has repatriated over 44,000 employees to their home countries. Meanwhile, the company said the Singapore government has approved pilot cruises to start in December. The company said its 2021 bookings have continued to improve over the last two months, although they are still below pre-COVID-19 levels, while pricing for 2021 bookings is relatively flat. Separately, the company said it has not been notified by the Centers for Disease Control and Prevention (CDC) of any intention to extend the current “no sail” order, which was recently extended to Oct. 31. Royal Caribbean’s stock dropped 5.5% in premarket trading, after the company announced earlier a $500 million stock offering and $500 million convertible debt offering. It has rallied 41.0% over the past three months through Monday, while the S&P 500 has gained 12.0%.
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