Carnival Report Increased Booking Volumes
Carnival Cruise Corporation has reported an improved number of summer bookings year on year. The cruise line confirmed that the numbers of bookings since March for the second half of the year are currently 26% higher than last year.
However, despite an increase in volumes, Carnival stated that prices were still at “substantially lower” values. A statement from the cruise line said:
“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,”
The second quarter to May 31st produced net profits of $264 million on revenues of $2.9 billion for Carnival. This was down on last year’s results which produced $390 million on revenues of $3.4 billion.
Micky Arison, Chairman and CEO of Carnival Cruise Line confirmed that the results were better than previously forecast thanks to lower costs and better pricing on late bookings. However, higher fuel costs and the recent outbreak of swine flu did have a somewhat detrimental effect on results.
