Carnival Corp plans to reduce its massive fleet by 13 ships as it faces unprecedented financial loss brought on by the coronavirus pandemic.
The Arnold Donald-led cruise behemoth announced the drastic move Friday as part of its earnings report for the second quarter, which registered a $4.37bn deficit after seeing a $781m loss in the first quarter.
"We will emerge a leaner, more efficient company to optimise cash generation, pay down debt and position us to return to investment grade credit over time providing strong returns to our shareholders", chief executive Donald said in the report.
