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Carnival Corp CEO sees 2 more tough years ahead - FT (March 14)

FILE PHOTO: Arnold Donald, CEO of Carnival Corp., holds up the company's new Ocean Medallion, a small wearable for their cruise ship passengers, during his keynote address at CES in Las Vegas, U.S., January 5, 2017. REUTERS/Rick Wilking

(This March 14 story corrects first and second paragraphs after FT amended its report to reflect that Carnival’s recovery will be primarily affected by fleet size)

(Reuters) - Cruise operator Carnival Corp Chief Executive Arnold Donald has said that shrinking its fleet due to the pandemic will slow its full recovery until 2023, as cruise lines battle a prolonged fallout from on-board outbreaks, the Financial Times reported on Sunday.

The cruise company’s full fleet might be sailing by the end of this year but with a smaller fleet it will take longer to recover to pre-crisis revenues, Donald told the newspaper in an interview.

Carnival in January reported a bigger-than-expected preliminary fourth-quarter net loss as business was brought to a virtual standstill by the coronavirus outbreak.

Reporting by Kanishka Singh in Bengaluru; Editing by William Mallard

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