Carnival Corp. Sees Best Quarter for Bookings Since Pandemic Began

Carnival Corporation & PLC, which comprises major cruise lines like Carnival Cruise Line, Costa Cruises, Princess Cruises, Holland America Line, Cunard and Seabourn, published its business report on the corporation's second quarter, identifying the second quarter of 2022 as the best booking period since the pandemic began.

Booking volumes during the second quarter of 2022, which ended 31 May, were nearly double that of the first quarter of the year; they're also the best booking volumes the corporation has seen since the beginning of the pandemic.

Customer deposits also increased from quarter to quarter by USD 1.4 billion. The total number of deposits is now USD 5.4 billion.

The corporation is also once again making a profit, beginning in April and following through the end of the quarter. Revenue increased nearly 50% from the year's first quarter, as did occupancy, which saw an increase of 15% for a total occupancy of 69%.

Despite increased revenue and occupancy rates, the cruise corporation did note that revenue per passenger cruise day (PCD), a key indicator of cruise performance, is still lower than 2019's second-quarter comparison.

Other key updates included information on key leadership changes, the corporation's sustainability and more.

Effective 1 August, President and CEO of Carnival Corporation, Arnold Donald, will become Vice Chair of the Boards of Directors. Josh Weinstein, currently Chief Operations Officer, will take his place and also take the roles of Chief Climate Officer and become a Director on the Boards of Directors.

The corporation is continuing its work to reduce its emissions by 40% by 2030, but it's changed its baseline from the emissions it produced in 2008 to the total emissions it produced in 2019. This modernizes the sustainability goals and increases the emissions that need to be reduced.

It is also installing almost 600 food waste bio-digesters across the corporation's fleets. The bio-digesters dramatically reduce food waste on board its ships. The corporation's goal is to reduce food waste by 30% in 2022 and 50% by 2030.