The cruise industry will take years to recover and there will be significant excess capacity when cruising resumes. Better to take out the excess capacity, through the bankruptcies of weak firms, than to have the taxpayer subsidizing the industry indefinitely. Who knows, maybe an enterprising entrepreneur will buy the ships up for pennies on the dollar in bankruptcy court and build a new business model for the industry.
I think both Carnival and Royal Caribbean will survive because they operate cruise ships on a truly worldwide basis.
Yep that’s Capitalism. J.P. Morgan would buy up all the ships and form a new company in 2021 or 2022 after the virus goes away.