through its next fiscal year, or until a vaccine for the coronavirus is publicly available. The parks aren't yet reopening to full capacity, as part of the company's safety precautions.
"When Disney reopened its Shanghai park in May, the company operated well below the 30% capacity constraint imposed by the government and ramped up to 30% over the following weeks," the analysts wrote. "While operating at these levels may reduce operating losses in both Disney and Comcast's parks divisions, it may not lead to a significant positive contribution to operating profit either.
Disney World is by far Disney's largest theme park by attendance. It recorded 58.3 million visitors in 2018, 78% more than its next most-visited park, according to Themed Entertainment Association data analyzed by UBS. Disney took the rare step of shutting Disney World's gates on March 15, as the coronavirus pandemic first gripped the US.
Evidence from UBS also suggests that a subset of parkgoers are eager to get back to Disney World, pandemic or not.
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