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Royal Caribbean reports $1.64 billion quarterly loss on pandemic hit

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The company said it expects its cash burn rate, on average, to be about $250 million to $290 million per month while its operations are suspended.

Royal Caribbean posted a net attributable loss of $1.64 billion, or $7.83 per share, in the second quarter ended June 30, compared to a profit of $472.8 million, or $2.25 per share, a year earlier.

The company wrote down the value of certain assets by $156.5 million in the quarter.

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