Covid could not sink cruise lines — but they now face an iceberg of debt

At one point in February 2020, a single cruise ship — the Diamond Princess — accounted for more than half of the world’s confirmed cases of Covid-19 outside China. The 3,700 passengers and crew endured a grim quarantine off Japan; seven died.

But Covid has not proved to be an existential threat for the industry. Bookings have surged to pre-pandemic levels. And earlier this month, after a total refit and several deep cleans under its owner Carnival, the Diamond Princess took to the seas…

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