Cruise bounces back but it is floating in a sea of debt. Cruise lines are focused on health and safety, although they also need to reduce astronomical debt accumulated during lockdown

Carnival Corporation & plc (logo)Royal Caribbean Group (logo)Norwegian Cruise Line Holdings - NCLH (logo)The cruise sector had a tough pandemic. What lessons has it learned from the crisis?

Covid-19 shut the industry for the best part of two years, leaving the Big Three — Carnival Corp, Royal Caribbean Group and Norwegian Cruise Line Holdings — under an unprecedented pile of debt that they will be paying down for years.

Carnival is $35bn in the hole, Royal Caribbean owes $24bn and Norwegian owes $13.4bn.

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