Carnival Corp plunges on forecast of Q4 loss, delayed return to profitability

(Reuters) -Carnival Corp on Friday forecast a loss for the fourth quarter as higher fuel prices and rising costs of everyday essentials delay its return to profitability, sending the cruise operator's shares down 20% in early trade. Decades-high inflation has further hit cruise operators that have been running at a loss ever since the pandemic broke out in 2020 for an array of reasons including lockdowns, bans on cruises, safety and pandemic-led shortages of labor. Adding to its challenges, Carnival has been heavily discounting and ramping up advertisements to attract passengers after a long pandemic-led interval.
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