Carnival reports H1N1 virus impact
Carnival Corporation & plc Reports Financial Impact of
Itinerary Changes Responding to H1N1 Influenza Mexico Travel Advisory; Plans
Rapid Return to Popular Mexican Ports
MIAMI, May 18 -- Carnival Corporation & plc (NYSE/LSE: CCL; NYSE CUK)
today announced a financial impact estimated at approximately $0.05 per
share, the majority of which will be incurred in the second fiscal quarter of
2009, as a result of modifications to cruise itineraries for the six-week
period ended June 15, in response to the U.S. Centers for Disease Control
(CDC) recommendation against non-essential travel to Mexico.
The CDC lifted its recommendation against non-essential travel on May 15,
allowing for ships to return to popular ports in Mexico's coastal resort
areas. However, the potential remains for additional financial impact beyond
June 15 which could range up to approximately $0.05 per share bringing the
estimated total impact to $0.10 per share on full year 2009 results. The
company will continue to monitor booking trends and provide updated guidance
on its second quarter earnings call.
Three of the company's brands modified itineraries for 27 cruise ships -
16 for Carnival Cruise Lines, six for Princess Cruises and five for Holland
America Line -- to avoid previously scheduled calls in Mexico. In many
instances the modifications involved simply substituting another port while
others required the development of entirely new itineraries. Princess' and
Holland America's Mexico calls are seasonal and conclude this month while
Carnival's are year-round.
"Our vessels are resuming their original itineraries as soon as practical
but will all be back by the middle of June. The Mexican coastal resort areas
where our ships call are some of the most popular destinations for North
Americans vacationers. We know that our guests are looking forward to
visiting Mexico and that they will have a safe and enjoyable experience
there," said Micky Arison, chairman and CEO for Carnival Corporation & plc.
Only the Carnival Cruise Lines brand vessels will be impacted by the
change in the CDC advisory. Gerry Cahill, president and CEO of that operating
unit said, "Mexico has so many wonderful sites and attractions and feedback
from our customers suggests that the majority support a resumption of port
calls in Mexico. We know that they and our port destination partners are very
much looking forward to our return."
A ship-by-ship listing including dates for when each Carnival Cruise
Lines' vessel will resume its original itinerary is available at
http://www.carnival.com/cms/fun/cruise_control/itinerary_updates.aspx
Carnival Corporation & plc is the largest cruise vacation group in the
world, with a portfolio of cruise brands in North America, Europe and
Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess
Cruises, The Yachts of Seabourn, AIDA Cruises, Costa Cruises, Cunard Line,
Ibero Cruises, Ocean Village, P&O Cruises and P&O Cruises Australia.
Together, these brands operate 90 ships totaling more than 173,000 lower
berths with 15 new ships scheduled to be delivered between May 2009 and June
2012. Carnival Corporation & plc also operates Holland America Tours and
Princess Tours, the leading tour companies in Alaska and the Canadian Yukon.
Traded on both the New York and London Stock Exchanges, Carnival Corporation
& plc is the only group in the world to be included in both the S&P 500 and
the FTSE 100 indices.
SOURCE Carnival Corporation & plc
CONTACT: Media, US, Tim Gallagher, +1-305-599-2600, ext. 16000; or
Investor Relations, US,UK, Beth Roberts, +1-305-406-4832, both of Carnival
Corporation & plc
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