"The COVID-19 pandemic is having a painful and profound impact on our world and our business; unquestionably, this crisis is the most difficult in the Company's history. But we have been impressed and grateful for the resourcefulness and agility of our team in responding to these unprecedented challenges. More importantly, we remain confident about the ability of our Company to recover and return to the positive trajectory we were on previously," said Richard D. Fain, Chairman and CEO. "We are encouraged to see the sharp decline in cases and the growing availability of vaccines. We can't wait to get back to the business of showing people the world and making great memories."
As part of the global containment effort resulting from the COVID-19 pandemic, the Company implemented a voluntary suspension of its cruise operations beginning March 13, 2020, which has been extended for most ships through at least April 30, 2021.
For the full year, the Company reported US GAAP Net Loss of $(5.8) billion or $(27.05) per share compared to US GAAP Net Income of $1.9 billion or $8.95 per share in the prior year. The Company also reported Adjusted Net Loss of $(3.9) billion or $(18.31) per share for full year 2020 compared to Adjusted Net Income of $2.0 billion or $9.54 per share in the prior year.
Healthy Return to Sailing
Royal Caribbean continues to collaborate with the Healthy Sail Panel, epidemiologists, health authorities and various governments around the globe to ensure a healthy and safe return to cruising for guests, crew and the communities visited. The Company also continues to prepare and develop its plan to meet the Framework for Conditional Sailing Order issued by the U.S. Centers for Disease Control and Prevention (CDC) for US sailings. Meanwhile most sailings remain suspended.
In December, Quantum of the Seas started operating out of Singapore. The CDC has requested Royal Caribbean provide information about two of their COVID-19 safety technologies being used on Quantum. We wrote about the first one, Muster 2.0 in a previous post. With that technology, passengers no longer gather in large groups to complete the mandatory safety drill before sailing.
The second technology, the Tracelet™ is a patented technology which allows for contact tracing.
What is a Tracelet™?
Who needs to wear it?
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| Tracelet™ Courtesy Royal Caribbean Singapore |
What if I cannot wear it on my wrist?
According to Royal Caribbean's Singapore website, the Tracelet™ is a comfortable, water-resistant, hypoallergenic wearable worn by all guests and crew during the cruise. The Tracelet™ helps us with contact tracing in the unlikely event of an onboard health concern. Therefore, everyone onboard regardless of age, needs to wear it.
Should you be unable to wear it on your wrist, we will find another way for you to wear it. Any guest who chooses not to wear the Tracelet™ will be unable to sail.
The press release also details financial steps taken by the company and details the impact on past and future bookings. Read entire Press Release here.
Looking to 2022
Royal Caribbean has released its Short Caribbean sailings for Summer 2022 - Winter 2023, which are now available for booking. Three Freedom class ships, Freedom of the Seas, Independence of the Seas, and Liberty of the Seas will operate from Florida and sail 3-4 night cruises to the Bahamas including a stop at their private island sensation Perfect Day at Coco Cay.
Mariner of the Seas will sail 4-5 night cruises to the Western Caribbean and Perfect Day at Coco Cay from Port Canaveral. Adventure of the Seas and Grandeur of the Seas will offer short cruises from Galveston. Brilliance of the Seas and Rhapsody of the Seas will sail 4-5 night cruises to Western Caribbean from Tampa.
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