UBS suspects Royal Caribbean Cruises is on the prowl for more cash after disclosing up to $275m in monthly operating costs for an idle fleet of 62 ships.
The Richard Fain-led owner announced the expenditure Friday as part of an update that listed cost-cutting efforts such as putting some ships in cold layup during the pandemic.
"We believe RCL’s update is in advance of a capital raise," UBS analyst Robin Farley wrote Monday in a client note.
