Carnival Corp CEO sees 2 more tough years ahead – FT (March 14)

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FILE PHOTO: Arnold Donald, CEO of Carnival Corp., holds up the company's new Ocean Medallion, a small wearable for their cruise ship passengers, during his keynote address at CES in Las Vegas

(This March 14 story corrects first and second paragraphs after FT amended its report to reflect that Carnival’s recovery will be primarily affected by fleet size)

(Reuters) – Cruise operator Carnival Corp Chief Executive Arnold Donald has said that shrinking its fleet due to the pandemic will slow its full recovery until 2023, as cruise lines battle a prolonged fallout from on-board outbreaks, the Financial Times reported on Sunday.

The cruise company’s full fleet might be sailing by the end of this year but with a smaller fleet it will take longer to recover to pre-crisis revenues, Donald told the newspaper in an interview.

Carnival in January reported a bigger-than-expected preliminary fourth-quarter net loss as business was brought to a virtual standstill by the coronavirus outbreak.

(Reporting by Kanishka Singh in Bengaluru; Editing by William Mallard)

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