Summary by Moomoo AI
On January 30, 2024, Carnival Corporation & plc, the world's largest cruise operator, announced a strategic rerouting of 12 ships across seven of its brands away from the Red Sea transits scheduled through May 2024 due to regional security concerns. Despite the rerouting, which is expected to impact earnings per share by $0.07 to $0.08 for the full year, the company reported no adverse effect on booking trends. Carnival also highlighted a robust start to the wave season with record-high booking volumes since November and the strongest booked position for 2024, with higher pricing and occupancy compared to 2023. The company anticipates strong bookings momentum to offset the financial impact of the Red Sea itinerary changes. Additionally, Carnival announced the redemption of its remaining second lien debt, valued at $571 million, as part of its financial strategy to reduce interest expenses and leverage towards achieving investment grade credit metrics.
