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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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Losses mount at NYK Cruises in first quarter of financial year |
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NYK Cruises, which operates Asuka II (ex-Crystal Harmony) on the
Japanese market and owns Crystal Cruises in the US, has reported a fall in
revenue and deeper losses for the first three months of the financial year that
will end on 31 March 2011. The company, which is part of Nippon Yusen Kabushiki Kaisha (NYK) group, suffered a net loss of JPY1.3 billion compared to a JPY0.6 billion loss in the same period last year. Operating loss deepened to JPY1.3 billion from JPY0.5 billion, while revenue fell to JPY9.0 billion from JPY9.4 billion in the corresponding period of 2009. “In the Japanese market, Asuka II's seat-load factor failed to grow, reflecting the impact of the economic slump throughout its around-the-world cruise sales period. In the North American market, Crystal Cruises’ proactive sales promotion strategy successfully boosted revenues year on year, but bunker oil and other expenses increased. As a result, a year-on-year earnings declined in the Cruises segment overall,” NYK said in its first quarter interim statement. Founded in 1885, NYK are now regarded as the largest shipping company in Japan. They began phasing out their passenger services after the Second World War to concentrate on running cargo ships. Their return to passenger ships began when they ordered Crystal Harmony in 1988; the year the new cruise line was founded. |
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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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