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Cruise line’s cfo says ‘solid yield recovery underway’
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Royal Caribbean Cruises Ltd. reported a net income $162.4 million for 2009. Though that figure represents a sizable drop from the $573.7 million net income the Florida-based cruise line posted a year earlier, chairman and ceo Richard Fain said “good cost discipline and better than expected revenues have enabled us to end 2009 on a decidedly upbeat note." In addition, Fain noted that the company is benefitting from “the terrific success of our latest Oasis- and Solstice-class vessels. These ships are generating very healthy returns due to high guest satisfaction, excellent revenues and lower operating costs."
As for the coming year, the company says it's cautiously optimistic. "It is still early in the selling cycle for 2010, but our order book is stronger and prices are higher than at this same time last year,” said Brian Rice, executive vice president and cfo. “We clearly are not at pre-recession demand levels, but we are pleased to see solid yield recovery underway."
The company, which currently operates 38 vessels, will add one more ship to its fleet this this year, the 5,400-passenger Allure of the Seas.
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