It said if it’s not able to maintain enough liquidity, “our business and financial condition could be adversely affected and it may be necessary for us to reorganize our company in its entirety, including through bankruptcy proceedings, and our shareholders may lose their investment in our ordinary shares.”
Another casualty will be the economies of the Caribbean islands that depend immensely on the cruise industry. When I was in St. Maarten some years ago, there were 6 ships in port on the same day with a total of about 20,000 passengers (and thousands of crew, some of whom get shore-leave at each port of call). St. Maarten has only about 40,000 people. They hit around 2 million cruise passenger visits during their season. If the industry doesn’t rebound before the 2021 cruise season, there will be a massive depression in these small places.