The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
And yet, Europe is about to initiate all kinds of lockdown with no end in sight.....
Not sure how people can go on cruises if they are locked down? (even partially....)
Down from 60% planned to 40%.
Given the falls all over the markets, this is holding up surprisingly well at only 4% down....
Have to say, I'm smelling a rat here too.....he's either a genius, extremely lucky, or a liar. Pick one.
The high (very briefly) was 1089 on 8th October.
Are you saying you sold better than the high, or did you just manage to sell at the very peak? (again).
https://www.theguardian.com/business/2020/oct/12/cabin-fever-tickets-for-meal-aboard-singapore-parked-plane-sell-out
30 quid for a meal on a parked plane sounds like a great night out to me. Maybe even do a scratch card or two to add a frisson of excitement. Well worth a trip to Stansted.
Madrid is once again in lockdown as of yesterday and noone can leave the city. Hence the majority of flights cancelled, amongst them Ryanair.
Most people booking a Ryanair ticket will have no clue about the problems with these planes.
But personally, if I saw it was going to be a MAX, I would steer well clear.
And doesn´t change the fact that whatever the plane, you still need lots of paying customers to sit in it.
Everyone I know that has been flying recently has said that the plane was almost empty (regardless of airline)
No vaccination will be 100% effective, so no airline or country can be sure you are COVID free just because you've been vaccinated.
It's like the flu vaccine, it's still quite possible for you to catch the flu, just a reduced chance.
A 2019 study by Transport & Environment (T&E), a campaign group, found that in 2017 Royal Caribbean alone emitted four times more sulphur oxides than all of Europe’s cars combined. Sulphur oxides can cause health problems and acid rain, while harmful nitrogen oxides can also be a by-product from the industry.
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Many ships scrub harmful gases from their exhaust and then discharge the pollutants into the sea, as well as emitting large amounts of carbon dioxide, said Lucy Gilliam, a shipping campaigner at T&E.
“These ships can have a higher carbon footprint than flying in a jumbo jet,” she said. “They’re burning significant amounts of fuel per passenger because they’ve essentially got a huge hotel load as well as amusements on top.”
Efforts to restart the cruising industry have already been plagued with problems, with Covid-19 detected on cruise ships in Norway and Tahiti in August.
Well, it's hard to imagine Ryan is anywhere less than in the smelly stuff too. They're both operating in the same arena.
I guess Ryan has better financials than Easy, but Ryan's current SP is higher than it was pre October 2019 when it was flying a full and healthy schedule. So that cannot be justified unless you are pricing in the failure of Easy (or BA).
So after a predictably poor set of Easyjet results which confirm the industry is in the sh&/t, they and Ryanair both rise...
And this despite accelerating COVID cases throughout Europe and new threats of lockdown.
Whatever way you slice it airports aren't going to be busy any time soon....
I'm all for positive news, I want to travel around freely as much as anyone else.
But infection cases are hitting new records globally, and even places like Italy, Finland and Denmark which had managed to escape the worst are now seeing higher figures than in March.
And the US looks kinda out of control too with most of the government infected and NY going back to some lockdown measures.
We are a long way from being out of the woods yet.
Curious as to when cruises could start visiting this area again.
Spain, France and Italy are clearly no go zones for the moment.
In Spain, the question has not even been put out there, as it is the last thing that would be acceptable at the moment, given that stricter lockdown conditions are coming.
So at what point does the question get asked; do we allow cruise ships back in?
I took an overnight ferry recently in the Med.
What a nightmare.
With all the COVID restrictions; the masks, the spaced queue for dinner, etc. etc. it really was unpleasant, I couldn't wait to get off.
The idea of being on a cruise for 7 days + in these conditions is beyond my comprehension.
Agree with you MM, but wondering one thing;
How low can this go?
At what point does it become a better course of action to simply sell the ships and call it a day?
The value of Carnival is now mainly in it's assets; the ships, plus a small 'hope things will get better' premium.
As each day goes by and clearly it 'isn't getting much better', at what point does the board decide that it's better to throw in the towel and sell the ships then continue to bleed 1 billion $ per month?
Clearly we aren't there yet, but where would the SP have to be to provoke such action? 5GBP?
Problem is the value of those ships is nothing like what it was, as who would want to buy them? Perhaps they could be put into use as ferries or floating hotels.
Here is an interesting analysis from OCTOBER 19, before anyone had even heard of COVID;
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When it comes to the balance sheet, the standout positive for Carnival Corporation & was the fact that it seems able to cover its interest expense with its EBIT confidently. But the other factors we noted above weren't so encouraging. For example, its level of total liabilities makes us a little nervous about its debt. When we consider all the factors mentioned above, we do feel a bit cautious about Carnival Corporation &'s use of debt. While debt does have its upside in higher potential returns, we think shareholders should definitely consider how debt levels might make the stock more risky. We'd be motivated to research the stock further if we found out that Carnival Corporation & insiders have bought shares recently.
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CCL was downgraded to junk status by Moody's and S&P in June 20, and then downgraded again in August.
Personally, I am trying to book a short holiday over Xmas. It's a nightmare - limited flight schedules, highly restricted accommodation with all kinds of depressing COVID measures, and the uncertainty of cancellations and quarantines. I'm coming to the conclusion that it's just not worth the hassle, and I'm firmly in the 'COVID should be downgraded as another flu like illness' camp, so I have no fear of this disease. (Indeed I firmly believe I had it without any consequence).
I think you mean;
'have you any idea whatsoever the amount of Net profit these companies such as CCL USED TO make'
They are burning 1 BILLION dollars a month, and will run into serious liquidity issues in less than a month unless they seek further funding.
Last funding was done at 12.5%. Ouch.
That is a big chunk of interest to pay off.
CCL needs at least 30% of it's fleet to run just to survive, and that is not happening this year.
So the huge daily cash burn is not an issue in your eyes then?
Maybe answer the question rather than trying to be funny,.,..