Royal Caribbean Reports Financial Impact of H1N1 Virus
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Royal Caribbean Reports Financial Impact of H1N1 Virus
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Category: - Industry economy -
Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2009-06-15
Royal Caribbean Cruises Ltd. (NYSE: RCL) (OSE: RCL) today announced an estimated financial impact of approximately $(0.22) per share, directly attributable to the impact from the H1N1 virus. For Royal Caribbean International, this is the result of vessels that deviated their itineraries away from Mexican ports and ensuing pricing pressures in the Mexican market. Pullmantur had a unique situation which impacted its operations. The H1N1 outbreak occurred just prior to the launch of Pullmantur's Pacific Dream, a new product targeting Mexican nationals. The launch was cancelled and the ship remained idle. Additionally, the outbreak caused a significant reduction in Pullmantur's tour capacity in Mexico. There was essentially no impact on Celebrity's operations.
"The flu outbreak had a short, but highly disruptive impact to our operations," said Richard D. Fain, chairman and chief executive officer. "Fortunately, our vessels are quickly returning to their original itineraries, but the impact from the publicity surrounding the H1N1 virus on our Mexican business is frustrating."
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