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Cruise Ship Disaster

Carnival's Costa brand to take three years to recover

Carnival Corp said it will take up to three years for its Costa brand to recover its reputation and profitability after its Concordia ship sank off the Italian coast last year."There are a lot of great brands that have had setbacks and they've recovered ... but the economic situation in southern Europe isn't helping," Carnival chairman Micky Arison said at a press conference in London on Tuesday.The wrecked Costa Concordia, which has lain partly submerged in shallow waters off the Tuscan island of Giglio since the accident in January 2012 which killed 32 people, was rolled off the seabed and onto underwater platforms last week."Costa is already beginning to recover, studies of acceptance suggest it (the brand) has recovered nicely," Arison said, adding that it would take "two to three years" to get the brand back to where it was.The accident was followed by another setback involving Costa's Triumph vessel, which stranded passengers for five days and was eventually evacuated, while the ...

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  1. Cruise Ship Captain Appears In Italian Court

    The captain of a cruise ship that slammed into an Italian reef earlier this year, killing 32, was in court Monday to hear evidence against him, the Associated Press ...

  2. Concordia Captain Freed From House Arrest: Report

    An Italian judge on Thursday lifted the house arrest of the captain of the Costa Concordia, the cruise ship that foundered on the rocks off the Italian coast in Janu...

  3. Royal Caribbean International CEO on Cruise Market

    Royal Caribbean International CEO Adam Goldstein weighs in on the state of business.

  4. Getting Onboard With the Titanic II

    An Australian billionaire's plan to build a cruise ship called the Titanic II has already been attempted -- at least in a low-budget film by the same name."On the 10...

  5. Report: Costa Concordia Salvage to Begin in May

    FBN’s Sandra Smith on reports plans to remove the cruise ship that capsized off the coast of Italy will begin in May.

  6. Oil Now Leaking From Stricken Carnival Cruise Ship

    Oil has begun leaking from the Costa Concordia, a cruise ship that foundered off the Italian coast last month, killing at least 17 and leaving another dozen or so mi...

  7. Carnival Slashes Profit Outlook in Wake of Italy Wreck

    Carnival Corp (NYSE:CCL) on Monday said it would take a $155 million to $175 million hit against net income in fiscal 2012, blaming the Costa Concordia cruise ship c...

  8. Carnival Fails Crisis 101 in Costa Response

    With bodies still trapped inside Costa Concordia's underwater tomb, Carnival (NYSE:CCL) now finds itself at the heart of scrutiny only likely to rise along with the ...

  9. Can Carnival Make a Comeback Post-Disaster?

    Mark Murphy, Travalliance CEO, weighs in on Carnival's offer to uninjured passengers on the Costa Concordia , and what's ahead for the company.

  10. Carnival Sued Over Concordia Disaster

    Two weeks after the cruise ship Costa Concordia foundered off the coast of Italy, killing at least 16, a crew member is suing its parent company for negligence, the ...

  11. Carnival Shipwreck Survivors To Be Offered $14,400

    The survivors of the Costa Concordia shipwreck will be offered $14,400, or 11,000 euros, apiece as compensation for their ordeal, CNN reported Friday. According to t...

  12. Costa Cruises Offers to Pay $14,500 to Each Passenger on Ill-Fated Ship

    Costa Cruises has offered to pay 11,000 euros ($14,500) in compensation to each of the more than 3,000 passengers aboard the ship that capsized near the island of Gi...

  1. Carnival Revenue Slides; Chairman, CEO Roles to Split

    Carnival (NYSE:CCL) reported a surge in second-quarter earnings after the sale of one of its ships, overshadowing a decline in revenue.The Miami-based company also a...

  2. Carnival to Spend Millions on Safety Measures

    Carnival (NYSE:CCL) plans to invest $300 million to enhance emergency power capabilities and fire safety technology on its namesake cruise ships, the company said We...

  3. Costa Cruises accepts $1.3 million fine over Concordia disaster

    Costa Cruises, the unit of Carnival Corp that owned and operated the capsized cruise liner Costa Concordia, has accepted a $1.31 million fine to settle potential cri...

  4. Carnival Cruisers File Class-Action Suit

    Attorney Mike Winkleman discusses his suit against the cruise line.

  5. Passenger Talks About Conditions on Carnival Triumph

    Carnival Cruise Ship Passenger Chad Simmons on the conditions on the disabled ship.

  6. Carnival to Take EPS Hit in Wake of Damaged Ship

    Cruise ship operator Carnival (NYSE:CCL) said on Wednesday it will take a first-half charge of eight cents to 10 cents a share from voyage disruptions and repair cos...

  7. Sandy Slows Decline in Reinsurance Rates

    Superstorm Sandy is looming over the insurance industry as companies look to lock up their backup protection against large losses for the coming year.The massive sto...

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