Disney's two American theme parks may not reopen until next year.

That's the newest advice from financial firm UBS for Disney World in Florida and Disneyland in California.

UBS analyst John Hodulik says they expect the parks won't reopen until January 1, 2021, but at 50% capacity for the first six months and 75% capacity for the remaining six months of 2021.

“Profitability will likely be impaired until there’s a vaccine,” Hodulik said. “We believe parks’ profitability will be impaired for a longer period of time given the lingering effects of the outbreak and now assume an opening date of Jan. 1 as our base case.”

Disney officials have not yet commented on this report.

Back in March, Disney announced that its parks would remain closed indefinitely. UBS originally said they believed the parks would reopen around June 1, 2020.

As of now, you can book a reservation with Disney parks for June 1 and later. The company says that guests will be able to modify their bookings should an opening date occur before or after that date.

More information may come out on May 5. That's when Disney will be discussing its quarterly financial results.


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