Royal Caribbean Cruises believes it is spending at least a quarter of a billion dollars per month just to keep its business afloat while collecting no revenue amid a fleet-wide lay up.
The Richard Fain-led owner of 62 ships estimates a monthly cash burn of $250m to $275m after implementing cost-cutting measures that include putting some ships in cold lay-up and laying off a quarter of its 5,000 US shoreside employees.
