Carnival’s Princess Cruises to stop cruises until May 14 due to a coronavirus pandemic

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Carnival Corp. CCL,
-0.97%
CCL,
-1.92%
said Wednesday it will extend the pause of its Princess Cruises line until May 14, due to uncertainty about travel restrictions caused by the coronavirus pandemic. The break applies to cruises in the Caribbean, the California coast and the first season for cruises to Alaska and Europe, the company said in a statement. Customers currently booking canceled trips will be able to receive a refundable future cruise credit equal to 100% of the fare, plus an additional non-refundable credit equal to 25% of the fare paid. The break had previously been extended until March 31st. Carnival shares rose 0.7% to 36% in the past three months, while the S&P 500 SPX
+ 0.57%
has gained 12%.

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