Sudden Cuba cruise ban to hit Carnival profits
The sudden ban on US cruise ships visiting Cuba is expected to knock four to six percent off Carnival Corporations’ share earnings for the full year.
Profits will be further hit by problems facing Carnival Vista, which is currently sailing with restricted cruising speed and is due to go into dry dock for more than two weeks for repairs.
Carnival said it expects lower booking prices in the short term as a result of the Trump administration Cuba ban, and it has the added expense of guest compensation and cruise credits due to the need to make last-minute itinerary changes.
Cuba cruises were invariably sold at a premium to other comparable Caribbean itineraries, it said.
Rivals Norwegian Cruise Line and Royal Caribbean Cruises have also been heavily impacted due to the Cuba ban.
Linsey McNeill
Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk
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