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Sept. 16, 2020, 8:13 a.m. EDT

Carnival's Germany-based AIDA Cruises to expand cruise offerings to Italy

Shares of Carnival Corp. (NYS:CCL) (LON:UK:CCL) bounced 1.4% in premarket trading Wednesday, after tumbling 10.8% the previous session, with its Germany-based cruise line AIDA Cruises announcing an expansion of its cruise offerings to Italy for the fall. AIDA said starting Oct. 17, it will offer a 7-day cruise departing from Civitavecchia near Rome, and traveling to Palermo and Catania in Sicily, Naples and La Spezia. The new cruises will be offered weekly, until Nov. 28. AIDA has been operating crises in Germany since early-August. Carnival's stock had tumbled on Tuesday after the disclosure of plans for a $1 billion stock offering and for accelerated capacity reductions. Carnival's stock has plunged 68.7% year to date through Tuesday, while the SPDR Consumer Discretionary Select Sector ETF (PSE:XLY) has rallied 18.7% and the S&P 500 (S&P:SPX) has gained 5.3%.

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