Arison calls 2012 Carnival's 'most challenging' year ever

By Tom Stieghorst
Micky Arison, CEOCarnival Corp. reported lower earnings for the fourth quarter and full 2012 year, dragged down by the Costa Concordia maritime accident in January.

"The past year has been the most challenging in our company's history," Chairman Micky Arison said.

Carnival's fourth-quarter earnings fell to $98 million from $217 million, and profits for the full year dropped to $1.3 billion from $1.9 billion.

Revenue for the year was $15.4 billion, down from $15.8 billion in 2011.

Carnival said cumulative advance bookings for 2013 continue to be behind the prior year at slightly lower prices.

It expects net revenue yields to decline 2% to 3% in the first quarter of 2013 and "improve sequentially" for the rest of the year, based on higher ticket prices and occupancy for North American brands and for Costa Cruises.

Follow Tom Stieghorst on Twitter @tstravelweekly.
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