Richard Fain on Congressional legislation
From Latest Update From Royal Caribbean's CEO Richard Fain · · Get Cruise Ship Info And More
“Even Congress understands the importance of our industry, passing unanimously the bill that allows us to provide cruises to Alaska this summer. Can you think of one other piece of legislation that got every member of Congress to support it?”
On , Richard Fain, Former Chairman & Chief Executive Officer at Royal Caribbean Group, spoke about Congressional legislation during Latest Update From Royal Caribbean's CEO Richard Fain on Get Cruise Ship Info And More.
About Richard Fain
Richard Fain, former chairman and CEO of Royal Caribbean Group, appeared on the podcast "Delivering the WOW" on March 1, 2024, where he discussed the company's experience during the Covid-19 pandemic. Fain said that within a few weeks the company went from generating a billion dollars a month to zero revenue, a situation he said his training and business school background had not prepared him for. He described the period as both horrifying and gratifying, citing how employees came together toward a common goal. Fain also discussed the company's decision-making during the pandemic, stating that the mantra was not about saving money by putting ships in cold layup, but about ensuring they would be ready when the pandemic ended. He characterized this approach as a "cheap expense" when viewed in the context of the company's goal of operating after the pandemic. Fain added that the company's focus was on how to emerge from the crisis rather than on short-term expenses.