Royal Caribbean Group, the world’s second largest cruise shipping company, has decided to launch a $40 million programme to support travel advisors to weather the Covid-190 pandemic.

Called "Pay It Forward," it is a second phase of its RCL Cares programme to support its travel advisors as they look to rebuild their businesses after a challenging 2020.

“The program makes a $40 million pool of funds available to qualifying travel advisors, who can apply for three-year, interest-free loans of up to $250,000 to keep their businesses focused on a return to growth at a time when the pandemic shows increasing prospects for coming under control,” the company said in a statement

"We know our travel advisor friends are suffering, too, and we will get through this tough period together, just as we always have," said Richard Fain, Royal Caribbean Group's chairman and CEO. 

"Our travel partners have stood strong beside us for more than 50 years, and we are determined to be there for them now. We're going to get to the other side of this challenging time together," he added.

The company said details about the application process for the program would be shared directly with travel advisors in January.