Uncertainty and financial woes loom ahead of the cruise industry, forcing many to restructure in order to stay liquid for the foreseeable future.
The U.S. Centers for Disease Control and Prevention has repeatedly extended its no-sail order. And the prolonged suspension of cruise operations from U.S. ports goes through September 30, for now.
Cruise Lines International Association announced its consensus to voluntarily continue suspending U.S. operations until October 31. CLIA members include global operators, such as Carnival Corporation & plc, Disney Cruise Line, Norwegian Cruise Line Holdings Ltd., and Royal Caribbean Group.
Some cruise operators are retaining their liquidity through restructuring or by selling assets or shares.
At the beginning of May, Norwe...