With No Cruising Until July Port Canaveral Predicts $43 Million in Losses
The COVID-19 crisis has had a huge impact on the Travel and Tourism industry and one of the key areas where this can be felt is with cruising. As America waits for vaccinations the CDC has directed the cruising industry to continue to push back sailing dates. As a result Port Canaveral, one of the ports that Disney Cruise Line most frequent sails out of is revising their financial projections for the current year.
According to a recent piece in Florida Today, Port Canaveral Chief Financial Officer Michael Poole is projecting $32.59 million in operating revenue for the port and a $43.12 million loss in the current budget year (which ends on September 30th.)
Prior to this latest revision the port was projecting $56.90 million in operating revenue and a $37.03 million loss. The revised budget predictions are expected to be discussed by Canaveral Port Authority commissioners tomorrow morning. At this point, it is believed that sailing will once again be able to start to and from the part in July!
A July restart date is a far departure from original projections when Port Canaveral was preparing their budgets for the year. It was originally thought that sailing would resume in January! As of now, it is believed that
These new estimates are based on the length of time the cruise industry thinks that it will take for CDC to get the cruise industry back up and running. However, it should be noted that no official statements have been made from the cruise lines just yet including Disney Cruise Line.
Canaveral Port Authority Chairman Wayne Justice told Florida Today that he supports the port’s decision to rethink budgets saying, “The facts are the facts.” Justice continued, “The situation is what it is.”
Port Canaveral is now decreasing its projections for cruise operations revenue from $24.21 million down to $9.83 million. This includes everything from warfage to parking fees. The port does still receive some money from Disney Cruise Line along with Royal Caribbean cruise ships which stop by Port Canaveral to take on fuel and supplies or for maintenance.
This is a story that we’ll continue to follow closely here at MickeyBlog. Readers are encouraged to keep following along with us for further Disney Cruise Line news and updates.
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Source: Florida Today