Mall of America

Published on Monday, June 24, 2019

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.

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