Carnival Corp.’s Costa Brand Suspends Cruises Through April 3

(Bloomberg) -- Carnival Corp.’s Costa Cruises is suspending operations until April 3, adding another stoppage after the parent company previously halted voyages for its Princess Cruises division.

Costa, a line that sails through the Mediterranean, had already suspended trips departing from its Italian ports and operations in China, but the announcement Friday marks a broader retreat.

The move comes a day after Princess halted cruises, after that line suffered both known outbreaks of coronavirus at sea.

Even after the latest steps, Carnival is still operating the majority of its fleet, the world’s largest, with passengers flouting a recommendation from the State Department that all Americans avoid cruising.

The partial suspension of activities pales in comparison to measures taken by other industries, including professional sports leagues’ decisions to put their seasons on hold.

Carnival shares were up 3.6% at 11:54 a.m. in New York, having gained as much as 23% earlier. Shares of cruise companies have been under heavy pressure since the virus crisis began last month.

To contact the reporters on this story: Alberto Brambilla in Rome at abrambilla8@bloomberg.net;Jonathan Levin in Miami at jlevin20@bloomberg.net

To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net, John J. Edwards III

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