Royal Caribbean Cruises (RCL.US) rose more than 9% as cruise and airline stocks rose.
AInvestTuesday, Aug 6, 2024 11:00 am ET
1min read
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Tuesday, shares of cruise companies rose, with Royal Caribbean (RCL.US) up more than 9%, Norwegian Cruise Line (NCLH.US) up more than 3%, Carnival (CCL.US) up nearly 4%, Delta Air Lines (DAL.US) up more than 2%, United Airlines (UAL.US) up more than 2.4%, and American Airlines (AAL.US) up more than 2% as of the time of writing.

On the news side, the industry reports released recently by international institutions show that the global cruise industry presents a stable recovery trend. According to the latest data released by the International Cruise Association, the global cruise passenger volume in 2023 reached 3170 million, an increase of 7% compared with 2019, and the whole industry is expected to maintain the growth trend in 2024, with the passenger volume expected to increase to 3570 million, an increase of nearly 13%. According to the research of the data statistics website Statista, the revenue of the global cruise industry is expected to exceed $30 billion in 2024, and the annual revenue growth rate of the industry will be more than 5% in 2024-2028.

Moreover, according to statistics, the overall debt level of the three major cruise groups Carnival, Royal Caribbean and Norwegian Cruise Line fell by 7% last year, and Royal Caribbean is expected to grow its earnings by 5.5% in 2024 compared with 2019.

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