Royal Caribbean Group on Friday told investors that it expects to have full load factors across a fully operating cruise fleet by the third quarter of 2022, adding that it expects to be cash flow positive by spring and profitable for the full year 2022.

By the end of 2021, the cruise brand said it expects 50 out of 61 ships to have returned to service, representing almost 100% of core itinerary capacity and approximately 80% of worldwide capacity. 

The remaining ships are expected to return by the spring of 2022 and return to historical load factors in the third quarter 2022, the company said, in its third quarter earnings release.

“Although there are many uncertainties going forward regarding COVID-19, as well as cost and supply chain pressures, we continue our pathway forward and anticipate positive cash flow for the Group by spring of 2022 and generating positive earnings for the full year 2022,” said Jason T. Liberty, Executive Vice President and CFO.