Benzinga | Oct 29, 2021 08:07AM EDT

Royal Caribbean Group Says Expects Mainland China To Resume In Spring; Expects By End Of Year 50 Out Of 61 Ships Will Have Returned To Service

Continued Fleet Ramp-Up

The Group anticipates load factors on core itineraries to ramp to 65-70% during the fourth quarter. The Company anticipates 6.9 million APCDs for the fourth quarter with overall load factors of 60-65%. The Group expects all ships on core itineraries in the fourth quarter will be cash flow accretive even when including start-up costs. By the end of the year, the Group expects that 50 out of 61 ships will have returned to service, representing almost 100% of core itinerary capacity and approximately 80% of worldwide capacity. The remaining ships are expected to return by the spring of 2022 and return to historical load factors in the third quarter 2022. Mainland China is expected to resume in the spring and we have assumed lower load factors as this important long term market ramps up.