Royal Caribbean Cruises Ltd chairman and chief executive, Richard Fain, has sold shares in the company worth more than $2.5 million.

A sale price of $125.70 was achieved for each of the 20,000 shares sold on Friday.

The disclosure came in a filing to the US Securities and Exchange Commission.

Fain still directly holds 907,741 shares in the cruise company and a further 216,206 shares indirectly via family trusts, according to the filing.