Carnival Corp’s CCL Princess Cruises has taken the initiative and announced a voluntary pause of worldwide cruises for 60 days due to the coronavirus spread.

Princess Cruises says it plans to be back in operation by May 11.

Those passengers currently onboard a cruise that will end in the next five days will continue to sail as expected through the end of the itinerary so that onward travel arrangements are not disrupted.

The company serves more than 50,000 guests daily from 70 countries and has been managing the implications of COVID-19 on two continents.

"By taking this bold action voluntarily causing the operations of our ships, it is our intention to reassure our loyal guests, team members and global stakeholders of our commitment to the health, safety and well-being of all who sail with us, as well as those who do business with us, and the countries and communities we visit around the world," said Jan Swartz, president of Princess Cruise.

Carnival Cruise shares were down 20% at $17.59 in Thursday’s pre-market session. The stock has a 52-week high of $57.69 and a 52-week low of $20.20.

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