Arnold Donald, president and CEO of Carnival Corporation, said bookings were strong in Europe and for the company’s European brands on Carnival’s first quarter earnings call despite economic malaise in Continental Europe.
“We’ve got a double digit capacity increase in Europe in kind of uneven economic environment,” Donald said. “But the reality is, the bookings are strong and we’re doing some proactive management. Our yield management teams have decided to be way ahead on occupancy relative, given the capacity increases.”
“The most important thing is to grow earnings,” he continued. “And we are anticipating earnings growth in Europe with the combination of what’s going on, but right now we feel solid in where we are. We feel confident and strong again with the guidance and with the fact we’re going to grow earnings.”
David Bernstein, vice president and CFO, said Europe was a “tad better” compared to December, when the company had its year-end and fourth quarter earnings conference call.
However, the company’s cumulative advanced bookings for its Europe and Asia brands were said to be well ahead of the prior year at lower prices driven by Europe and Asia brand sourcing in Continental Europe.