Buoyant Carnival overcomes Costa Concordia disaster

26th Sep 2012
Buoyant Carnival overcomes Costa Concordia disaster

Carnival Corporation has reported robust figures for the third quarter of financial 2012, allaying fears the cruise giant could see profits wiped out by the Costa Concordia disaster.

Profits in the third quarter stood at $1.33 billion, a fraction lower than in the same period of 2011.

Carnival had earlier said profits would be hit by the aftermath of the disaster, which led to the deaths of 32 people of the coast of Italy in January.

Following the release, shares in the world’s large cruise operator – which also controls Princess Cruises, P&O Cruises and Cunard – increased by three per cent.

Price cuts on the Costa line and increases in auxiliary revenue buoyed Carnival. 

“The significant efforts of our brand management teams were successful in partially mitigating the decline in cruise ticket prices,” Carnival chief executive Micky Arison said in a statement.

Carnival also unveiled elements of long-term strategy, with plans in place to focus on emerging markets in Asia.

The deployment of a second Costa ship in China and the launch of a new Princess Cruises programme in Japan were also on the agenda.


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