Royal Caribbean Cruises Ltd (RCCL) said on Tuesday that it would focus on maintaining liquidity, which could mean cutting expenditure on ship refits.

“The company is pursuing additional actions to improve its liquidity by reducing capital expenditures, operating expenses and taking other actions to improve liquidity by at least a further $1.7 billion in 2020. The company is also planning reductions to the 2021 capital expenditures and operating expenses,” RCCL said in a statement.

On the capital expenditure front, rescheduling deliveries of newbuildings would be a complex matter, so that investment in upgrades of existing ships could be slowed down. However, the company did not explicitly say this.