A firmer trend in bookings in the recent past indicates that an extended wave season is taking place, Carnival Corporation & plc President, Chief Executive Officer and Chief Climate Officer Arnold Donald said

"Given the recent strengthening in booking volumes coupled with the closer-in booking patterns, we expect an extended wave season. In fact, we gained occupancy even in the month of March with fleetwide occupancy nearing 70%and several sailings already exceeding 100%," he said in a statement.

Since the middle of January, the company has seen an improving trend in weekly booking volumes for future sailings. Recent weekly booking volumes have been higher than at any point since the restart of guest cruise operations. 

During the first quarter, the company increased its booked occupancy position for the second half of 2022, albeit not at the same pace as a typical wave season due to the Omicron variant.

As a result, cumulative advance bookings for the second half of 2022 are at the lower-end of the historical range. However, the company believes it is well situated with its current second half 2022 booked position given the recent improvements in booking volumes and its continued expectation that occupancy will build throughout 2022 and return to historical levels in 2023.

Normalised for bundled packages, prices on bookings for the second half of 2022 continue to be higher, with or without future cruise credits ("FCCs"), as compared to 2019 sailings. 

Cumulative advanced bookings for the first half of 2023 continues to be both at the higher end of the historical range and at higher prices, with or without FCCs, normalized for bundled packages, as compared to 2019 sailings. Due to the ongoing resumption of guest cruise operations, the company's current booking trends will be compared to booking trends for 2019 sailings.

As of March 22, 75% of the company's capacity had resumed guest cruise operations as part of its ongoing return to service. The company's enhanced COVID-19 protocols have helped it become among the safest forms of socializing and travel, with far lower incidence rates than on land. The company expects to have each brand's full fleet back in guest cruise operations for its respective summer season where it historically generates the largest share of its operating income.