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Royal Caribbean reports $ 1.64 billion quarterly loss on pandemic hit



August 10 (Reuters) – The Royal Caribbean Group reported a quarterly net loss on Monday after the cruise operator suffered a coronavirus-driven shutdown for cruising that is now going to extend deep into the second half of 2020.

The company said it expects its level of money laundering, on average, to be around $ 250 million to $ 290 million a month as its operations are suspended.

Royal Caribbean posted a net loss of $ 1.64 billion, or $ 7.83 per share, in the second quarter ended June 30, compared with a profit of $ 472.8 million, or $ 2.25 per share, a year earlier.

The company wrote down the value of certain assets at $ 156.5 million in the quarter. (Reporting by Uday Sampath in Bengaluru; Editing by Shounak Dasgupta)


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