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Carnival announces first-quarter loss
Carnival Corporation slid into the red in the first quarter of this year when it made a $15 million loss compared with a $37 million profit during the same period of 2013.
The loss included unrealised losses on fuel derivatives of $17 million.
However, president and CEO Arnold Donald said the cruise line’s income during the three-month period to the end of February was better than anticipated last December due to higher ticket prices for Carnival Cruise Lines and the company’s continental European brand, as well as the timing of certain expenses.
"We see progress with our continental European brands and continue to be pleased with Carnival Cruise Lines’ pace of improvement," he said.
"Exciting product innovations and strategic marketing initiatives at Carnival Cruise Lines have driven strong close-in demand resulting in sequential improvement in year-over-year quarterly ticket prices for the brand."
Its global bookings for the remainder of 2014 are up 20% year on year, said Carnival, but at lower prices.
Donald added: "Many guests are booking further in advance, which increases visibility and builds confidence that yield comparisons will turn positive in the second half of 2014.
"We are on the path toward improved financial performance. We are working hard to maintain
the momentum with additional product initiatives, continuous improvement in our already high
guest satisfaction levels and greater utilization of our global scale."
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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