Royal Caribbean loses $1.4 billion in first quarter
FILE - In this June 20, 2016 file photo, the Royal Caribbean cruise ship Empress of the Seas heads out of PortMiami, in Miami Beach, Fla. Royal Caribbean Cruises Ltd. on Wednesday, May 20, 2020, reported a first-quarter loss of $1.44 billion, after reporting a profit in the same period a year earlier. (AP Photo/Lynne Sladky, File)
The Associated Press
Posted at 3:18 PM, May 20, 2020
and last updated2020-05-20 16:18:55-04
NEW YORK (AP) — Royal Caribbean Cruises on Wednesday reported a first-quarter loss of $1.4 billion as the company had to suspend operations due to the global coronavirus pandemic.
Even though the loss was more than Wall Street expected, shares in the company's stock rose more than 3% in early trading after the cruise ship company said its bookings for 2021 are within historical ranges.
Royal Caribbean suspended its global cruise operations on March 13, cancelling 130 sailings during the quarter.
Royal Caribbean plans to resume at least some sailings on June 12.
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