The Royal Caribbean Group missed market expectations for quarterly sales on Friday, as passengers continue to be wary of catching COVID-19 on cruise ships.
Since late June, cruise ships have started sailing from U.S. ports with mostly vaccinated passengers and crew, but several aboard cases and an increase in COVID-19 infections have raised concerns about the industry's future prospects.
Analysts predict that pent-up demand and strong family savings will boost the cruise industry's comeback. With just over half of the United States' population completely vaccinated and ships working at reduced capacity, a full recovery will take longer.
According to Refinitiv IBES, total sales were at $457 million in the third quarter ended Sept. 30, compared to estimates of $567 million.
Royal Caribbean's net loss was $1.42 billion, compared to $1.35 billion the year before.