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Choppy waters for cruise firm
ROYAL Caribbean Cruises, the world’s second-largest cruise operator, yesterday said that strong US demand and a jump in bookings so far this year would help mitigate lingering weakness in Europe in 2013.
The firm reported a fourth-quarter net loss of $392.8m (£249m), on revenue of $1.81bn, compared with a profit of $36.6m on revenue of $1.78bn a year earlier.
The loss stemmed from a $413.9m impairment charge related to its Spanish cruise line Pullmantur, which has been hit by austerity measures in that country.
The company said it has seen a “significant deterioration” in demand in Spain, and sales across the industry have been hit by the sinking of the Costa Concordia.