No-Sail Order Lifted, Carnival Stock Soars

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The CDC has given cruise lines notice: The no-sail order issued on March 14 in response to the COVID-19 pandemic and extended three times will come to an end. It will be allowed to expire at midnight on October 31.

Carnival Corporation & Plc (NYSE: CCL) jumped more than 10% as the news broke.

But don’t head for the docks just yet. Passengers won’t be sailing on November 1. No actual sail dates have been set.

In the order, the CDC says that “initial phases will consist of testing and additional safeguards.”

The CDC further stipulates cruise ship operators must “build the laboratory capacity needed to test future passengers.”

Only in “subsequent phases” will cruise ships sail with “simulated voyages.” The CDC will test and certify ships before passengers are allowed back on.

There is no specified date for the subsequent phases. And the CDC made it clear that the rules are subject to change at any time.

While it’s not quite sailing time just yet, this is still a positive signal to the industry. It’s the first sign of relief for the nearly 250,000 people employed by cruise lines prior to the shutdown.

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