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The Carnival Liberty cruise ship is seen after docking to allow crew members to receive the COVID-19 vaccine at Port Canaveral, the first U.S. port to sponsor the distribution of the COVID-19 vaccine to port workers and crew members crew of ships.
Paul Hennessy | LightRocket | Getty Images
Carnival shares jumped 7% on Tuesday after the company announced plans to resume cruises with 75% of its total fleet capacity by year-end, despite concerns about the spread of the more infectious variant of the Covid delta.
The company will resume operations with 54 vessels across eight of its nine brands. Carnival Cruise Line, which has already resumed operations, will also bring back the remaining nine ships from its fleet by the end of the year.
These measures taken together will increase Carnival’s total operating capacity to 75%, according to the company.
In recent weeks, Carnival stock has fallen almost 33% from its 52-week high of $ 31.52 on June 8. The stock has fallen more than 2% year-to-date.
Shares of Royal Caribbean Cruises rose more than 6% after falling almost 4% on Monday, and Norwegian Cruise Line rose more than 7% after falling more than 5% on Monday.
Carnival fell 5.7% on Monday amid concerns over the spread of the delta variant of Covid and after an appeals court on Saturday issued a ruling that would temporarily keep pandemic restrictions on the industry in place.
The cruise industry is among the latest to return to pre-pandemic operations after several high-profile epidemics aboard ships at the start of the health crisis. The Centers for Disease Control and Prevention has imposed strict health guidelines on the industry to prevent further outbreaks.
Carnival Cruise Line resumed cruises from the United States during the first weekend of July, after cruise operations ceased during the pandemic.
The company will begin requiring unvaccinated passengers to purchase travel insurance that would cover costs related to Covid. Royal Caribbean Cruises also implements this policy.
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