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Unique Cruise Solutions The news you need to know |
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Cruise News for the Corporate Travel Professional |
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Carnival Corporation & plc today commented on the financial impact resulting from the grounding of the Costa Concordia. |
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“At this time, our priority is the safety
of our passengers and crew,”
 said
Micky Arison, Carnival Corporation & plc chairman and CEO. “We are deeply
saddened by this tragic event and our hearts go out to everyone affected by the
grounding of the Costa Concordia and especially to the families and loved ones
of those who lost their lives. They will remain in our thoughts and prayers,”
Arison said.In accordance with financial disclosure requirements, the company provides the following information: The company has insurance coverage for damage to the vessel with a deductible of approximately $30 million as well as insurance for third party personal injury liability subject to an additional deductible of approximately $10 million for this incident. The company self-insures for loss of use of the vessel. A damage assessment review of the vessel is currently being undertaken to determine how long it will be out of service. The vessel is expected to be out of service for the remainder of our current fiscal year if not longer. For the fiscal year ending November 30, the impact to 2012 earnings for loss of use is expected to be approximately $85-$95 million or $0.11-$0.12 per share. In addition, the company anticipates other costs to the business that are not possible to determine at this time. |
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Worldwide Travel & Cruise Assoc., Inc. 150 S. University Dr. Ste E, Plantation, FL 33324 - USA Tel: +1 954 452 8800 Fax: +1 954 252 3945 EMail: sales@cruiseco.com |
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Designed & Published by: Worldwide Media. |
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