When I originally forecasted Carnival's (NYSE:CCL) cash position, I did so under the impression normalcy would somewhat return after 4-6 weeks. My rationale for this, ironically, was not predicated upon the government re-opening the economy. I actually thought the impetus would come from the people - I thought, by six weeks, people would have run out of money and would actually be forced back into the workforce, with COVID-19 lurking or not. Presently, I think a more probable scenario in which we return to some normalcy will be 12-16 weeks and potentially more.

As such, it is imperative I go back and reassess Carnival's cash position, as there have also been a number of crucial developments on that front. From what I have calculated, Carnival will have enough cash to make it through the end of the year. I will walk everyone through a quick timeline of events and then present the liquidity position and capital restructuring taking place within Carnival.

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