Royal Caribbean expects Oasis of the Seas to return to service on May 5

In:
01May2019
By: 
Matt Hochberg

In the weeks since a shipyard accident required Royal Caribbean to make unscheduled repairs to Oasis of the Seas, it now appears the ship is on schedule to return to service on May 5.

During an earnings call with investors today, executives from Royal Caribbean Cruises Ltd. announced that Oasis of the Seas is expected to return back to service for its normally scheduled May 5, 2019 sailing from Barcelona.

On April 1, 2019, Royal Caribbean's Oasis of the Seas was undergoing maintenance at the Grand Bahama Shipyard when an accident involving the drydock caused two construction cranes to collapse on the stern of the ship.  The damage to the ship was extensive and the ship had to go to a dock in Europe for repairs.  As a result, the ship was taken out of service for almost a month.

The company estimates the direct financial impact of this unusual event, net of insurance, will be a reduction of approximately $0.25 per share to the company's full year Adjusted EPS, mostly driven by lost revenue.