Cruise lines may not be eligible to receive relief through the bailout fund included in the $2T stimulus bill. “The devil is going to be in the details here and we don’t know a lot of the details,” one travel analyst said.
as health authorities attempted to contain a virus outbreak that emerged on the ship. The Grand Princess was forced to moor off the California coast after 21 people tested positive for the virus. Passengers on the company’s Diamond Princess were also quarantined in Japan after one passenger tested positive for the virus. Roughly 700 passengers on the ship became infected, and at least eight died.Cruise industry stocks have been crushed by the financial impact of the coronavirus.
“The devil is going to be in the details here and we don’t know a lot of the details,” Hardiman said. “Why don’t they just relocate and domesticate and change the place of incorporation from Panama to the U.S. and this way they’ll be eligible for loans and loan guarantees?” he said. “If they did that, they would win the battle but lose the war because they would be forced to give up their tax exemption. I assure you that is sacrosanct; they're not giving up their tax exemption.”
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