The Outdoors Blog

Carnival Cruise Lines beats Wall Street estimates, still loses 20 percent

October 1, 2009 by · Leave a Comment 

Carnival Cruise Lines has reported a 20 percent loss in revenues over the third quarter of 2009, according to the Associated Press, but that decline is still better than earlier Wall Street estimates. Company officials said that after a year of declining passengers because of the economy and swine flu worries, the cruise line has been able to offer discounted cruise vacations to lure new customers.

“I think it is clear that we’ve kind of stabilized here,” said Chief Operating Office Howard Frank. “And that we have been able to tweak pricing up at a price point that people (still) find very attractive.”

Airline ticket sales have created a price war within that industry that has stimulated customers to start flying again. However, Frank said that it might be a long time until a full recovery is seen.

“We’re not going to see dramatic increases,” he said. “I just think it is going to be a fairly stable environment, maybe slightly improving, but nothing more than that.”

The company also said that travelers are booking more vacations ahead of time and are less interested in a last minute vacation deal.