Carnival Corp. (CCL) – Get Report said Tuesday that its expects a third quarter loss of around $3 billion and that it could sell around $1 billion in common shares as part of a capital raising plan.
Carnival said in a Securities and Exchange Commission filing Tuesday that its loss for the three months ending in August is expected to be $2.9 billion on a U.S. GAAP basis, a figure that includes non-cash charges of around $900 million. Its third quarter cash burn rate was pegged at $770 million, the company said, a figure it expects to slow to $530 million over the three months ending in November.
However, it also said that second half bookings for its cruise ships were ahead of their historic averages, as customers return to the travel sector following months of coronvirus lockdowns in key markets around the world.
Carnival is expected to