QE2 sale keeps Carnival ahead

The effects of the credit crunch are showing in Carnival’s latest set of financial figures.
The biggest cruise company in the world, which also owns Cunard, P&O, Princess, Costa and Holland America, says its income of $2.3 billion for the year is 4.2 per cent down on 2007.
Income in the fourth quarter was $371 million, up 3.6 per cent on the previous year, but the figure was boosted by the $31 million gained from the sale of Cunard’s QE2 to Dubai.
Despite a reduction in fares, bookings for next year are below the numbers achieved a year ago.
CEO Micky Arison said: “”As expected, 2009 is shaping up to be a challenging year in the travel industry.
“Our brands have the most talented and experienced management teams in the business. They will play an important role in guiding us through these trying times,”
Carnival’s total fleet consists of 88 ships and it has orders for a further 17 new vessels scheduled to be delivered between March 2009 and June 2012.