Carnival Sees Q3 Loss of Around $3 Billion; Bookings Improve

Carnival Sees Q3 Loss of Around $3 Billion; Bookings Improve

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. 

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