Name: Royal Caribbean posts third straight $1 billion loss
Uploaded: 2020-10-29T18:55:43.000Z
Duration: 1 min 12 s
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a reminder from royal Caribbean of how historically tough it is to be in the travel and tourism business during a global health crisis.

The cruise ship operator on Thursday posted a billion dollar net loss for the third straight quarter and it expects to lose more money this quarter as it anticipates burning through up to $290 million in cash every month.

Royal Caribbean is expecting its cost to rise as it gets ships ready to sail again and be in compliance with new health safety rules.

It expects to start sailing one ship from Singapore at the end of the year.

The cruise industry as a whole has pretty much come to a standstill after Cove in 19 outbreaks on several ships halted voyages this spring, and some operators are now facing passenger lawsuits in order to convince customers to book a cruise again.

Royal Caribbean has jointly spearheaded an industry effort to put new practices in place, including testing, use of face coverings and enhanced sanitation procedures that has yet to convince the U.

 S Centers for Disease Control and Prevention to lift a no sale order that could be extended this week. 