PORT CANAVERAL, Fla. – Port Canaveral officials are revising their financial projections for the current budget year to reflect the possibility that multiday cruises will not resume until July because of the coronavirus pandemic.
Before the latest revision, the port was projecting $56.90 million in operating revenue and a $37.03 million loss for the current budget year.
Canaveral Port Authority commissioners will discuss the revised budget projections during their meeting Wednesday morning.
In projecting that the major cruise lines would not resume sailing from Port Canaveral until July, “we decided to rip the bandage off” in projecting a worst-case budget scenario, Port Canaveral Chief Executive Officer John Murray said.
Canaveral Port Authority Chairman Wayne Justice said he supports the port’s decision to do a midyear budget revision now, rather than wait several months.