Soaring fuel costs a concern for Royal Caribbean - TravelMole


Soaring fuel costs a concern for Royal Caribbean

Monday, 22 Apr, 2005 0

High fuel costs remain a “major focus” for Royal Caribbean Cruises despite recording increased first quarter profits.

The US parent company of Royal Caribbean International and Celebrity Cruises saw net profits for the first three months of the year rise to $135.3 million against $95.8 million the same period last year.

Higher cruise prices, a 3.3% increase in capacity and improved occupancy and onboard revenues helped push up revenues by 10% to $1.2 billion year-on-year.

Chairman and Chief executive Richard Fain said: “All key elements of the business performed very well, but the high cost of fuel is a major focus.”

The company said that ‘at the pump’ fuel prices had exceeded forecasts and were running 20% higher than the 2004 yearly average, a rise of nine percentage points since the end of the first quarter. If these levels are maintained it will cost the company an extra $26 million in addition to $23 million already estimated.

The cancellation of a 10-night Hawaii cruise due to engine problems with Celebrity ship Infinity is expected to reduce earnings per share by between three and four cents, divided  between the first two quarters of the company’s financial year.

Report by Phil Davies 

 

 

 

 



 


profileimage

Phil Davies



Most Read

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns

James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel

Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination

Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari