Royal Caribbean Group Forecasts Q2 Profit After $1.2bn Loss in Q1

Royal Caribbean Group announced its Q1 results on 05MAY, posting a USD $1.2 billion dollar loss, but also said booking volumes are on the rise, with positive cash flow in APR. For summer, the cruise line is expecting all its ships to return to service, and predicts a return to profitability in the second half of 2022, reports Seatrade Cruise News. “Despite the impact of Omicron earlier in the year and the horrific conflict in Ukraine, we are encouraged by the strong demand for cruising and the steady acceleration in booking volumes,” Royal Caribbean Group President and CEO Jason Liberty said.

By the end of Q1, 54 of Royal Caribbean Group’s 64 ships across its five brands returned to operations, and carried approximately 800,000 passengers. Total revenue per passenger cruise day was up 4 per cent versus record 2019 levels, driven by strong onboard revenues. Royal Caribbean expects to operate around 10.3 million available passenger cruise days in Q2 with passenger capacity of around 75 to 80 per cent.

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