Carnival posts upbeat results

Carnival posts upbeat results

Carnival Corporation has posted better-than-expected results for its third quarter ending 31 August due to a surge in late bookings.

Net income came in at $1.1bn – although this was down from $1.3bn for the same period last year. Booking volumes for the remainder of 2009 and the first half of 2010 are running 19% ahead year-on-year.

Occupancy levels are on the rebound but are still slightly behind last year, while ticket prices for these bookings are also at lower levels.

Micky Arison, Carnival chairman and chief executive, said: “Given the global economic environment, earning more than $1bn this quarter was quite an achievement and is a testament to the power of our global brands.”

“Our net income for the quarter exceeded our previous guidance, as a result of better-than-expected pricing on close-in bookings worldwide during the seasonally strong summer period.”

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Last week, the company took delivery of Carnival Cruise Lines’ largest ever vessel, flagship Carnival Dream, which carries 3,652 passengers.

In June, the group took delivery of Seabourn Odyssey, Seabourn’s first newbuild in 20 years.