(SOURCE) – On Tuesday, Carnival Crop announced plans for a $1 billion stock offering, while warning investors about a $2.9 billion loss for Q3, typically its busiest quarter. The latest offering adds to the growing mountain of billions in debt and equity that Carnival has raised since the beginning of March, as the embattled cruise-ship operator struggles to 'stay afloat' – no pun intended.
Six months into the pandemic pause, Carnival shares are down 4% in European trading Thursday morning after the international cruiseline operator revealed late Wednesday night that it would extend cancellations through the spring of 2021.
In keeping with the company's "ongoing ship enhancement program", Carnival is delaying the return of four ships until enhancements are complete, leading to cancellations into April 2021.
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