The massive $2-trillion coronavirus relief package signed into law today will likely not set aside funding for one of the industries hit hardest by the coronavirus outbreak: the cruise lines.
The massive $2-trillion coronavirus relief package signed into law Friday by President Trump will likely not set aside funding for one of the industries hit hardest by the coronavirus outbreak: the cruise lines.— is expected to help the ailing airlines and hospitality companies, cruise lines that have all but stopped sailing, including Carnival, Royal Caribbean and Norwegian, don’t appear to qualify for loans or relief grants.
Trump, who has spoken out about helping the cruise lines, acknowledged the problem during a media briefing Thursday when he said he favors having cruise lines register their ships in the U.S. “We did not ask nor expect a cash bailout from the U.S. government,” said Roger Frizzell, a spokesman for Carnival. “We recently secured $3 billion from our revolver [credit line] and we have significant assets around the world.”
In addition, Royal Caribbean said it has “over $3.6 billion of liquidity comprised of cash deposits and its existing undrawn revolving credit facilities” and had already committed financing for all of its new ships on order.
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