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The Carnival Corp Royal Princess cruise ship sits docked outside the Port of Los Angeles in Los Angeles, California, USA, on Sunday, March 8, 2020. The Centers for Disease Control and Prevention (CDC) issued a no-sail order to the Royal Princess as officials warned Americans over the weekend to avoid cruise ships. (Photo: Bloomberg)

Carnival sees entire fleet sailing by spring, later than hoped

The Carnival Corp Royal Princess cruise ship sits docked outside the Port of Los Angeles in Los Angeles, California, USA, on Sunday, March 8, 2020. The Centers for Disease Control and Prevention (CDC) issued a no-sail order to the Royal Princess as officials warned Americans over the weekend to avoid cruise ships. (Photo: Bloomberg)

Carnival Corp Chief Executive Officer Arnold Donald estimates that the company will have its entire cruise fleet of 91 cruise ships operating by next spring, a bit later than it originally hoped.

Chief Executive Officer of Carnival Corp Arnold Donald (Photo: Business Insider)

The company has already announced returns for 42 ships by the end of the company’s fiscal year, which ends November 30, according to a quarterly business update on Thursday.

The latest estimates on timing suggest the company won’t meet its previous best-case scenario. On an April 7 conference call, Donald said he would like to have the full fleet going “by the end of this year, early next year,” but he portrayed that time frame as an “aspiration.”

The Diamond Princess cruise ship, operated by Carnival Corp, sits docked as members of media stand in Yokohama, Japan, on Friday, February 7, 2020. (Photo: Bloomberg)

The company reported an adjusted net loss for the second quarter of US$2.04 billion, near the worse end of estimates compiled by Bloomberg, which ranged from US$1.14 billion to US$2.09 billion.

Shares of Carnival fell less than one per cent to US$27.97 as of 9:48 am Thursday in New York.

Like the rest of the industry, Carnival’s cruise operations have remained mostly shut down, with notable exceptions including Costa Cruises and AIDA Cruises-branded voyages in Europe. But North American cruises are expected to return in the coming weeks.

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