Royal Caribbean cruise line shares fall to all month low

Royal Caribbean shares faced a massive hit due to the rising fear of the virus. The stocks have dropped significantly at around 5% on Tuesday morning. This proved to be a major setback for the world’s biggest cruise line as the tourism industry remain affected amidst the fear of delta variant of Covid virus.

Forbes stated that the shares of Royal Caribbean cruise line has hit a one month low and the cruise line is still trying to recover from the dents of the Covid 19 pandemic.

The cruise line faced this setback following a set of troubling incidents which hit the cruise line like a strong wave, firstly the incident of 20 year old went missing after the unnamed passenger jumped into the sea during a family vacation, however the boy is searched for by the US Coast Guards.

After this incident a separate passenger still remains missing after stepping off a different Royal Caribbean cruise ship in Mexico.

After the strings of unfortunate accidents with the cruise line it had to offer a compensation of around $1.3million dollars to the passengers who booked a trip on Capital Jazz cruises as their trips got cancelled due to the fear of virus.

The shares of the Royal Caribbean dropped to approximately $130 which marked as the company’s lowest point since mid-march. However, its shares have bounced back from the extreme lows of $23 in 2020. To everyone’s amazement despite the lows of the cruise line its overall performance still shows a growth of 9% this year, as mentioned in a report by Forbes.

The tourism industry is facing a low with not only with Royal Caribbean Cruise lines shares witnessing a dip, but also its contemporaries like Norwegian Cruise Lines facing a hit of 3% and went slightly below $19 and Carnival Corp shares lying approximately around $15 with a fall of 3% in its stocks.

Other lines like American Airlines, Delta Airlines, United Airlines are also falling in the race of maintaining their shares which hints the tourism sector taking a blow globally.