Carnival Corporation & plc, the world’s largest cruise shipping group, said that cumulative advanced bookings for the second half of 2021 capacity currently available for sale are at the higher end of the historical range, although prices have softened.
Bookings in the first half of 2021 reflect expectations of the phased resumption of its guest cruise operations and anticipated itinerary changes. “As of August 31, 2020, the current portion of customer deposits was $2.1 billion with $0.1 billion relating to fourth quarter sailings," it said.
Approximately 60% of bookings taken during the three weeks ended September 20, 2020 were new bookings as opposed to future cruise credit (FCC) re-bookings, despite minimal advertising or marketing,” the company said in a trading update. The 60% figure marks an increase of five percentage points from three months to 31 August.
Carnival said it believes this demonstrates the long-term potential demand for cruising. Pricing on these bookings are lower by mid-single digits versus the second half of 2019, on a comparable basis, reflecting the effect of FCCs from previously cancelled cruises being applied. The company continues to take bookings for both 2021 and 2022.
As of 20 September, approximately 45% of guests affected by the company's schedule changes have received enhanced FCCs and approximately 55% have requested refunds. The figures were unchanged from three months to 31 August.
Total customer deposits balance at August 31, 2020, was $2.4 billion, the majority of which are FCCs, compared to total customer deposits balance of $2.9 billion at May 31, 2020. The decline in customer deposits is consistent with previous expectations, Carnival said.
