Are shareholder credits why cruise lines cannot file chapter 11 bankruptcy.

[tidecat]

2 hours ago, cwyse said:

We might want to temper ourselves just a bit.

 

 

 

Yes it is true carnival and it's partners have a great deal of debt. Lest we not forget we are coming off on of the countries greatest shut downs man has known. Almost every corporation either borrowed or burned up their cash reserves. I foresee a good 2023 for carnival both in revenue and large increases of cruisers returning. Thus a return to a profitable platform. 

 

 

 

And historically, cruise lines have operated with billions of dollars of debt on their balance sheet. While that debt may have been a fraction of what it is today, they were not exactly debt free.

[lostsoulcruiser]

Your deposit you should get back, however nothing is easy in a bankruptcy and it may take awhile. It took a while to get cruise deposits back when Covid first hit.   "Credits", or on-board-credits, are not something customers can claim since in most cases, the customer did not pay for them.  They are an enticement by the company to cruise.  You will not get them back in most instances (there may be an exception).  

All the major cruise lines have mortgaged their futures to survive so unless some new cosmic event happens, they are going to try and tough it out.  In Carnival's case, the top dog, Mickey Arison, still holds a sizable stake in the company.  

Regarding your investment, Carnival bookings are quite strong for 2023.  I just had a conversation with my TA (went to pay for my April 2023 cruise which is almost a full boat), she said she has been having difficulty giving customers their first choice date because Carnival (RCL & NCL also) are booked full.   Once some of the Covid cancellations are through the system (cruisers at lower prices, like me), the lines should return to profitability.

[john91498]

I only have about $900 in Carnival stock. Couldn't careless if it disappears. I spend more than that on 1 cruise...