Cruise line profits fall
(WJS): The world’s second largest cruise operator, Royal Caribbean Cruises Ltd. swung to a second-quarter loss amid charges and lower revenue, as the prolonged slump in travel spending led the cruise-ship operator to post its second straight quarterly loss. The Miami company also issued a weak third-quarter view and lowered its full-year outlook, while boosting its expectation of the effects of the H1N1 virus on its earnings. Royal Caribbean expects net yields to fall about 14% this year, lower than its April view of a 12% to 13% drop.
Category: Business
