Continuing Negative Cruise News Beats Royal Caribbean Down

The 2012 second quarter earnings results are in for Royal Caribbean Cruises and its not good news.  

The cruise line reported a net loss for the second quarter of this year of $3,600,000 - compared to net income in the second quarter of last year of $93,500,000.

Slightly fewer passengers sailed on Royal Caribbean cruise ships during this last quarter compared to 2011.

The CEO of the cruise line, Richard Fain, tied the decline in passengers and net income to the Costa Concordia disaster in Italy in January, where 32 passengers and crew died. "The steady drumbeat of negative news emanating out of Europe is certainly having an effect," Fain announced at the conference call to analysts.

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Comments (9) Read through and enter the discussion with the form at the end
Serbian crew member - July 26, 2012 9:51 AM

Hi there, Jim!

One thing has struck me as unusual: how come that there is no Wikipedia article on Richard Fain? Given his wealth, influence and position in the cruise industry, one might assume that there should be a more detailed biography of such a person. As a matter of fact, it is very difficult to find out anything more specific about the cruise companies' CEOs except the most rudimentary biographical info. Do you think that they intentionally keep their biographies secret and maintain a low profile in public because the cruise industry they're running is based on cruel exploitation of cheap workforce, murky maritime laws and similar unethical principles?

Regards,
a crewmember from Serbia

Will B. - July 26, 2012 10:08 AM

The 3.6M loss and 93.5M prior net income looked to be numbers to be compared, but one is income and the other is a loss. Can you modify the post (or comment) to show the apples-to-apples?

Jim Walker - July 26, 2012 12:14 PM

Will:

It's an apple to apple comparison.

Net income for 2QRT 2012 = negative $3,600,000

Net income for 2QRT 2011 = positive $93,500,000

Regards Jim Walker

kevin - July 26, 2012 12:43 PM

The fact that people are finally hearing the truth about people suddenly disappearing from these ships, on top of possibly getting severely ill from Norovirus, is what is keeping people away. I don't think the tragedy in Italy is the main reason. After seeing the story of Amy Bradley on TV the other night, I can tell you I WILL NEVER GO ON ANOTHER CRUISE AGAIN! Pardon the expression, but I hope all the cruise lines "Sink" financially!!

Suzanne - July 26, 2012 2:13 PM

Funny...Silversea's ships are sailing full. The Costa Concordia did not keep any of their guests away. Could it be they simply have too many cabins to fill now?

Denise Miller Almanza - July 26, 2012 3:13 PM

We sail both Royal and Carnival. It is a lot more expensive to cruise on Royal.

Fabio - July 26, 2012 9:47 PM

Let's see how much cash Richard Fain and Co by the end of the year...

Juanito - July 29, 2012 3:15 PM

Hello, Serbian crew member;

There's a book called "Devils On The Deep Blue Sea" that has some information about Fain & Goldstein. It has more about the Micky & Ted Arison.

It's worth buying the book just to see pictures of Micky's suits and haircuts from the 70's.

tilden - August 7, 2012 8:55 PM

I'm a marine fire fighter carnival cruise has the worst safty record of any cruise line
They are the parent co to the ship that ran ashore in italy we always travel with royal
carribean what's a $100 more for safety

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