It's still rough waters for cruise operator Carnival.
The company posted a $2 billion quarterly loss on Thursday, extending a string of money-losing quarters to six in a row.
A 15-month suspension of U.S. voyages due to the health crisis means the cruise ship operator had little or no revenue to record.
It has had to take on billions of dollars in debt and even sell a few ships in order to stay afloat until restrictions ease.
In the meantime, Carnival has been spending to modernize ships to keep up with new health requirements.
But a turnaround could be coming.
The cruise industry is starting to see a revival in bookings in recent weeks as ships start to sail again from the Caribbean and the United States, though not all ports of call are accepting passengers.
Carnival's European cruises have already resumed.
The company said global bookings during the second quarter were 45 percent higher than the previous quarter, and it expects that trend to continue.
Carnival predicts half of its global fleet will be back on the open seas - with customers - by November.