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Genting Hong Kong warns of USD1.5 billion loss
Cruise ship operator Genting Hong Kong issued a profit warning, telling shareholders it expects to post an annual net loss of at least US$1.5 billion for 2020.
In a filing with the Hong Kong stock exchange it blames the impact on cruise operations and the closure of its shipbuilding operations at MV Werften’s shipyards in Germany for six months in 2020.
Its three cruise brands Dream Cruises, Crystal Cruises and Star Cruises have all been heavily impacted by cruise suspensions, although Dream Cruises has resumed short domestic cruises out of Singapore. Crystal is also restarting operations with cruises from the Bahamas this summer.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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