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Carnival Cruise Lines Shares Plunge After the Cancellation of Short AIDA Cruises

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Updated: 03 August 2020

Shares of Carnival Cruise Lines (NYSE: CCL) today plunged 3.21% to trade at $13.25 after the company announced that it has cancelled short trip on AIDA cruises as it awaits approvals from the Italian government.

Investors and customers alike were disappointed with the announcement since the trips were set to resume today after being halted in March.

The company cancelled trips scheduled for between August 5 and 12. Clients who had booked the trips will be reimbursed and allowed to re-book different cruises with a 50% discount.

Cruise Line operators were the worst hit by the coronavirus pandemic given the large scale outbreaks that occurred on many cruise ships earlier this year.

Carnival Corp share price

Tradingview chart of Carnival share price 03082020