Carnival Princess suspends all cruises for 60 days over coronavirus; shares tank

Carnival Corporation Princess Cruises division, which suffered the only known outbreaks of coronavirus at sea, is suspending all of its sailings for 60 days as the pandemic’s global effects accelerate.

As this news was announced its shares plunged to $17.16, the lowest its been in 11 years.

Although the move is the most aggressive so far by a major cruise group, the Princess line’s 18 vessels are just a fraction of the more than 100 operated by Carnival.

The company’s other brands, including Holland America Line, Cunard Line and its Carnival division, will still operate as normal with tens of thousands of passengers on board.

Current voyages scheduled to end in the next five days will continue to their planned destinations, while those set to end after Tuesday will stop instead at the most convenient earlier location, the company said in a statement.

Customers whose cruises are cancelled can transfer 100 percent of the amount they’ve paid to a future cruise of their choice, Princess said.

The company will add an additional unspecified credit for future cruises as an incentive to accept the offer.

In the meantime, the company has proposed barring all passengers 70 and older from boarding ships unless they get a note from a doctor.