Virgin Voyages just launched an annual pass for $120K, as Disney plans a huge cruise expansion

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Just a few years ago, the cruise industry was on its knees, with some of its biggest players on the verge of bankruptcy. It’s now back and bigger than ever: Disney is planning to spend $12 billion over the next 10 years, with the maiden voyage of the 1,119-foot-long Disney Treasure later this month the first step in a plan to more than double its fleet to 13 ships by 2031, while Virgin hopes its new unlimited pass could get cruise-goers to part ways with $120,000 and join them for up to a whole year.

Around the world in 365 days

While living at sea for an entire year might sound like an anxiety dream for many of us, it’s quickly becoming a reality in cruise tourism. For the six-figure sum (plus what would presumably be a very hefty onboard bill), you and a guest can clamber aboard Virgin’s cruiseliners for up to 365 days of sailing across Europe, the Caribbean, the Mediterranean, and anywhere else covered by the travel giant’s fleet. The offer shows Virgin’s intent to kickstart the “work from helm” idea touted by chief Richard Branson earlier this year when promoting its seasonal summer passes, offering perks such as free premium Wi-Fi and 2 specialty coffees a day.

Virgin Voyages’ annual pass fits into a growing trend in the cruising industry of longer onboard stretches, with Villa Vie Residencies giving customers the chance to set sail on its “perpetual world cruise” for up to 4 years at a time.

Cruise line passenger growth — Sherwood News

With cruise passengers now exceeding pre-pandemic levels, per data from the Cruise Lines International Association, companies like Virgin and Villa Vie are picking up on the world’s growing appetite for cruises.

Interestingly, in huge news for anyone looking to celebrate Bitcoin’s recent surge, the annual pass is also the first cruise product to accept the cryptocurrency as payment — perhaps reflecting the growing number of young people taking to the sea, with 1 in 2 passengers on Royal Caribbean cruises reportedly millennials or younger.

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JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.