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The Globe and Mail

Carnival outlines earnings hit from Concordia wreck

Carnival Corp. said on Monday that it will take a hit between $155-million (U.S.) and $175-million against fiscal 2012 net income because of the wreck of the Costa Concordia.

In an annual report filing with the U.S. Securities and Exchange Commission, Carnival also said it significantly reduced its marketing activities after the wreck.

"Costa's booking activity is difficult to interpret because of the significant re-booking activity stemming from the loss of the ship's use and related re-deployments," the company said. "However, we believe it to be down significantly. Despite these recent trends, we believe the incident will not have a significant long-term impact on our business."

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