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Aug. 11, 2020, 6:11 a.m. EDT

Carnival's P&O Cruises to extend sailing pause into November, but Costa Cruises to start sailing next month

Carnival Corp.'s (NYS:CCL) (LON:UK:CCL) U.K.-based P&O Cruises said Tuesday that it will extend its pause in operations until Nov. 12, after guidance from the Foreign & Commonwealth Office (FCO). The cruise operator has also cancelled two long cruises scheduled to depart in January 2021. Meanwhile, Carnival's Italy-based Costa Cruises is planning to restart operations "gradually" from Italian ports on Sept. 6. The first cruise ship to depart will be Costa Deliziosa, which will offer weekly cruises from Trieste, followed by Costa Diadema on Sept. 19 from Genoa. Carnival's stock, which surged 3.6% in premarket trading, has tumbled 69.6% year to date through Monday, while the S&P 500 (S&P:SPX) has gained 4.0%.

Link to MarketWatch's Slice.