Why cruise lines will be loser in $500 billion corporate bailout program for coronavirus - Business Insider

The $2 trillion stimulus package contained a substantial pot of money for bailouts of large corporations and businesses.

Democrats are critical of aiding an industry that avoids federal taxes, but Trump has expressed a willingness to help them out.The coronavirus pandemic has effectively shut down the US economy over the last month, compelling the Trump administration to pass a $2 trillion stimulus package to rescue a collapsing economy.

But one sector hammered in the economic fallout won't qualify for emergency aid: cruise line companies. The savings is substantial. Carnival, for example, would have had to pony up $600 million in 2019 on its $3 billion in reported 2019 income,Carnival Corporation is incorporated inLiberia'The whole world's f---ed': A former Goldman Sachs hedge fund chief says coronavirus fallout will cause the 'largest insolvency event in all history' — and warns of another 20% plunge in stocks

Interesting

These are terrible corporate citizens - low paid foreign workers, tax heavens for incorporation, poor environmental practices and using behind opaque legal justifications! Don’t deserve a penny of Govt funds ! CLIAGlobal CarnivalCruise cruise CruiseNorwegian RoyalCaribbean

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Let them seek aid from there own countries. The Grand Princess is a Bermuda Ship. Let Bermuda provide them aid.

they flaunt tax avoidance and expect us to save them..good one

I’m all for the $500 billion corporate loan program but these guys shouldn’t get a dime. Go to the country where you’re “headquarters are”.

Prison ships

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