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Sir Richard Branson reported to have raised most of $1.7 billion to start Virgin Cruise

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 26 March 2014 26 March 2014

Sir Richard Branson, the multi billionaire British businessman, is reported to have raised most of the $1.7 billion he needs to launch Virgin Cruise, media reports say.

“It’s true that we are looking to set up Virgin Cruises and most of the money is now committed,” Branson told select media in Dubai on Monday. He also hinted that some funding is likely to come from Gulf, according to the Sydney Morning Herald newspaper in Australia. Britain has close links with many of the Gulf states.

Cruise Business Online understands that Tillberg Design, the Swedish interior design company with long track record in passenger shipping, is involved with the project. Sir Richard is reportedly in talks with yards in Italy and Germany to build the first two vessels of the company.

“We are looking at a very different kind of cruise company. We’re trying to create the kind of cruise ship that would be attractive to the kind of people who would never consider a cruise at the moment,” Sir Richard told The National newspaper in the United Arab Emirates, where he has reportedly been in discussion with investors.

Sir Richard, who is involved with the Abu Dhabi government-backed investment group Aabar in the space industry, is believed to be looking to raise $1.7 billion in a mix of debt and equity for the venture. He will look to build a cruise fleet from scratch, starting with the construction of two new vessels to work the traditional cruise markets in the Caribbean and Mediterranean.

A Virgin spokesman told The National the Gulf cruise market could be a later focus. If the necessary investment is forthcoming, the cruise line could start operating in 2019, he added.

“We would offer more entertainment and leisure opportunities on board the ships, making them attractive to a younger market. We believe we can supply the Virgin ‘touch’ on cabins, leisure and dining facilities,” the spokesman was quoted as saying.

 

Carnival shares fall more than 3% in London and New York after interims

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 25 March 2014 25 March 2014

Shares in the two Carnival Corp & plc holding companies fell sharply after the company had unveiled its first quarter to 28 February interims results.

Carnival plc, the British holding company the shares in which are listed on the London Stocck Exchange, traded down 3.3% at £23.78 at 1430 local time. The shares hit a 52 week high at £26.15, while the low for the same period is £20.17.

In new York, Carnival Corporation, which is a Panama domiciled company whose shares are traded on the New York Stock Exchange, was 3.5% down at $38.72. Their 52-week high is $41.89 while the low for the same period is $31.44.

Carnival forecasts financial year 2014 EPS $1.50 to $1.70

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 25 March 2014 25 March 2014

Carnival Corp & plc, the Anglo-American cruise shipping group, said it continues to expect full year 2014 net revenue yields, on a constant dollar basis, to be down slightly compared to the prior year and in line with the prior year on a current dollar basis.

“The company also continues to expect net cruise costs excluding fuel per ALBD for full year 2014 to be slightly higher than the prior year on a constant dollar basis,” it said in a statement.

Taking the above factors into consideration, the company forecasts full year 2014 non-GAAP diluted earnings per share to be in the range of $1.50 to $1.70, compared to 2013 non-GAAP diluted earnings of $1.58 per share.

Looking forward, Group CEO Arnold Donald stated, “We are on the path toward improved financial performance. We are working hard to maintain the momentum with additional product initiatives, continuous improvement in our already high guest satisfaction levels and greater utilization of our global scale.” 

Carnival says global bookings 20% ahead of last year at lower prices

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Written by Kari Reinikainen Kari Reinikainen

Category: Top Headlines Top Headlines

Published: 25 March 2014 25 March 2014

Since January, booking volumes at Carnival Corp & plc, the Anglo-American cruise shipping group, for the remainder of the year are running well ahead of last year at lower prices, but the booking window is gradually lengthening, the company said in a statement.

At this time, cumulative advance bookings for the remainder of 2014 are ahead of the prior year at prices below prior year levels.

Group ceo Arnold Donald noted, “We have experienced a solid wave season, with booking volumes up almost 20 % globally surpassing last year’s cumulative advance booking levels, albeit at lower prices.”

“Many guests are booking further in advance, which increases visibility and builds confidence that yield comparisons will turn positive in the second half of 2014. Increased interest across our brands is an encouraging indication that our message is resonating as consumers recognize the strong value proposition and exceptional vacation experiences we provide.”