Carnival Says It Would Consider Selling Some Assets

Carnival Cruise Line CEO Arnold Donald said Friday he would consider selling one of the company’s brands if it needed to raise cash.

Donald was responding to a question during a quarterly earnings conference call.

The question was asked by Truist Securities managing director Patrick Scholes in response to Wall Street rumors that Carnival – like virtually all cruise lines – needs to address a bottom line that was devastated by the pandemic.

Carnival lost $1.83 billion in the quarter that ended on May 31.

According to the travel website The Points Guy, Carnival has $35.1 billion worth of debt on its balance sheet – nearly three times the amount it had just before the pandemic began in early 2020.

“We’re very pleased with our portfolio of brands,” Donald said, referring to the cruise lines under the Carnival umbrella. “Having said that, our job is always to keep an open mind and do what’s best for the shareholders.”

In other words, never say never.

Carnival brands include Carnival, Holland America, Seabourn, Costa, Aida, P&O Cruises Australia, P&O Cruises and Cunard.

“We’re only going to do what makes sense for the shareholders, given our projections of opportunity given the portfolio we have,” Donald said.