Royal Caribbean’s disclosure this week of a $1bn loss for the fourth consecutive quarter marked the end of a gloomy year since a Covid outbreak on board the Diamond Princess cruise ship brought the industry to a standstill.
But investors finally found cause for celebration, pushing the company’s share price up almost 12 per cent as it revealed a bump in bookings spurred by fresh confidence around vaccines and lockdown easing.
“Despite the lack of marketing spend, we have seen a 30 per cent increase in new bookings since the beginning of the year when compared to November and December,” Jason Liberty, Royal Caribbean’s chief financial officer, told analysts. “We feel very optimistic about the future.”
Another leading cruise line said its UK bookings leapt 300 per cent following the government’s announcement of reopening dates for hospitality and travel this week, albeit from a low base.
With virtually all ocean going cruises still suspended and monthly…