RCCL Q3 profit up on 'record' revenues

MIAMI -- Royal Caribbean Cruises Ltd. said third-quarter profits were $193.5 million on revenues of $1 billion, compared with earnings of $159.2 million on revenues of $940.7 million in the third quarter of 2001.

Net yields for the quarter were down 1.7% from the third quarter of 2001. The company said yields for the full year are expected to be down between 1% and 2% over 2001.

RCCL said the increased revenues for third-quarter 2002, which it called a "record high," were due to a 15.9% capacity increase, partially offset in a decline in air/sea bookings.

The company took a charge of $20 million in the quarter, recorded in connection with a previously disclosed potential litigation settlement.

RCCL also said it has moved up delivery on two ships: The Serenade of the Seas will be delivered in the third-quarter 2003; the Mariner of the Seas will be delivered in the fourth-quarter 2003, as previously reported.

Comments

From Our Partners

2020 Elite Island Webinar
More Family Fun in St. Lucia @ St. James’s Club Morgan Bay
Register Now
HAL_AlaskaCruising_Hero
Capitalizing on a Peak Year for Alaska Cruising
Read More
2020 Expo 2020 Feb
The World’s Greatest Show - EXPO 2020, DUBAI & ABU DHABI
Register Now

JDS Travel News JDS Viewpoints JDS Africa/MI