I remember the impact after 9/11 very vividly. The boards were alive with talk not only of the political, personal and cruise ramifications of the days events but also of the aftermath that would happen to the industry.
The aftermath was, at the least, brutal to the industry and there was a question if it would survive.
1. Stock prices for the major lines dropped from the low $30 range to the $18 to $12 range in less than a month.
2. Ships that were sailing at over 100% capacity were sailing at 95% capacity. This doesn't sound like much but to a cruise it is a major revenue loss.
3. Renaissance Cruises and AMCV American Classic Voyages Company, the parent company for American Hawaii Cruises, Great Lakes Cruises and United Sates Lines ceased operations because of 9/11.
4. Travel Agents petitioned Congress for help because of the lack of bookings caused because of 9/11.
5. Cruise prices were drastically cut for the next two to three years in order to attract customers. Many people became "spoiled" because of the low prices. Cruise prices are now at the levels they were "before" 9/11. I sailed, in a PH Suite on the Dawn Princess for $1295 pp in January of 2002.
Many that began cruising in 2002 and 2003 believe that today's cruise prices are very high but they are actually still less than they were than they were pre-9/11.
It was also a bad time for the airlines. Their bookings for leisure travel dropped for over a year. Airfares were cut over 12% into August of 2002.
Business travel was down 25% in August 2002 from what it was in August 2001.
If you wonder if there was concern and problems, after 9/11, you may want to listen to this 2002 radio show.