Carnival Corp sees bookings rise
The world’s largest cruise combine has reported improved booking levels for the summer peak.
Carnival Corporation said booking volumes since March for the second half of 2009 are running 26% ahead of last year.
“Although booking levels for the remainder of the year are still behind, the higher booking volumes have enabled the company to close the gap to approximately three percentage points from last year’s levels,” a statement said.
But prices for these bookings are at “substantially lower” levels.
The outlook came as the company reported net profit of $264 million on revenues of $2.9 billion for the second quarter to May 31.
This was down on net profit for the second quarter of 2008 of $390 million on revenues of $3.4 billion.
Chairman and CEO Micky Arison said operating results in the period were better than the company’s March guidance due primarily to lower than expected net cruise costs and better than expected pricing on late bookings.
This was partially offset by higher fuel prices and the impact from disruption to its Mexican cruises in response to the U.S. Centers for Disease Control (CDC) recommendations against non-essential travel to Mexico due to the April swine flu alert which reduced second quarter earnings by approximately $0.03 per share.
Arison said: "We were pleased with the quarterly operating results in light of the current economic environment.
“During the quarter, our operating companies remained focused on reducing costs which is expected to continue through the remainder of the year."
Phil Davies
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