Carnival Corporation & PLC Expects Financial Impact From Cancellation of P&O Cruises' Aurora 2005 World Cruise
MIAMI, Jan 20, 2005 /PRNewswire-FirstCall via COMTEX/ -- The 1,870-passenger cruise ship Aurora, operated by P&O Cruises, a unit of Carnival Corporation & plc (NYSE/LSE: CCL; NYSE: CUK), is experiencing a technical problem with its propulsion system that has forced the cancellation of its 103-day, 2005 world cruise. Passengers on the affected voyage are being provided refunds and future cruise discounts. The company expects the vessel will return to service prior to the date it was to end its world cruise and anticipates scheduling revised shorter replacement cruises.
Carnival Corporation & plc estimates that the cancellation of the Aurora's world cruise, net of estimated earnings from anticipated replacement cruises, is expected to impact 2005 full year earnings by approximately $0.05 per share, of which approximately $0.03 per share is expected to be incurred in the first quarter and the remainder in the second quarter.
Carnival Corporation & plc is the largest cruise vacation group in the world, with a portfolio of 12 cruise brands in North America, Europe and Australia, comprised of Carnival Cruise Lines, Holland America Line, Princess Cruises, Seabourn Cruise Line, Windstar Cruises, AIDA Cruises, Costa Cruises, Cunard Line, Ocean Village, P&O Cruises, Swan Hellenic, and P&O Cruises Australia.
Together, these brands operate 77 ships totaling more than 132,000 lower berths with 13 new ships scheduled for delivery between April 2005 and April 2009. Carnival Corporation & plc also operates the leading tour companies in Alaska and the Canadian Yukon, Holland America Tours and Princess Tours. 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
Investor Relations: Beth Roberts of US
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