Carnival's N.A. Brands to Implement Fuel Supple...
Carnival Corporation & plc's North American Brands to Implement Fuel
Supplement
MIAMI, Nov. 7 -- As a result of the continued rapid escalation of fuel
prices, the North American brands of Carnival Corporation & plc (NYSE/LSE: CCL;
NYSE: CUK) have announced they will implement a fuel supplement of $5 per person
per day.
The fuel supplement, which only applies to the first and second guests in
a stateroom and will not exceed $70 per person per voyage, is effective on all
bookings for voyages departing on or after Feb. 1, 2008 on the following
Carnival Corporation & plc brands - Carnival Cruise Lines, Costa Cruises,
Cunard Line, Holland America Line, Princess Cruises, and The Yachts of
Seabourn.
According to Carnival Corporation & plc Chairman and CEO Micky Arison, the
recent spike in fuel prices has dramatically impacted the company's operating
costs, thus necessitating the supplement. The price the company pays for fuel
has increased 140 percent over the last three years, with a 50 percent
increase occurring in just the last seven months.
"Earlier this year, we implemented a supplement for our European brands.
We had hoped to avoid a similar supplement for our North American brands but
with the price of oil approaching $100 a barrel this is no longer possible.
The implementation of the fuel supplement beginning February 1 for our North
American brands will result in consumers paying approximately one-third of our
year-over-year fuel cost increases over the first six months of the fiscal
year," he said.
Arison added that the company had been considering a supplement for some
time but held off as long as it could. "We are hopeful fuel prices will
someday return to a level that will enable us to eliminate this supplement.
Until then, we believe that guests sailing on our North American brands will
understand the dilemma that soaring fuel prices has caused for our company and
industry and that a fuel supplement was needed to enable us to continue
offering the high quality cruises our guests have come to expect," Arison
explained.
The fuel supplement of $5 per person per day will be applied to all new
and existing bookings for cruises on or after February 1, 2008. For existing
reservations, travel agents will receive $10 per booking in administrative
compensation for notifying their clients of the new fuel supplement and
collecting the additional funds. Carnival Corporation & plc brands will
provide additional information on the fuel supplement via their respective Web
sites, as well as through various marketing and collateral materials.
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, Seabourn Cruise Line, AIDA Cruises, Costa Cruises, Cunard Line,
Iberocruceros, Ocean Village, P&O Cruises and P&O Cruises Australia.
Together, these brands operate 84 ships totaling 156,000 lower berths with
21 new ships scheduled to enter service between December 2007 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 plc
CONTACT: Media, U.S.: Tim Gallagher of Carnival Corporation & plc,
+1-305-599-2600 ext. 16000; U.K.: Sophie Fitton or Sophie Brand of Brunswick
Group, +44 (0) 20 7404 5959; or Investors: Beth Roberts of Carnival
Corporation & plc, +1-305-406-4832
Web site: http://www.carnivalcorp.com
(CCL CUK)
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