The positive message comes from the organisation’s chief executive Josh Weinstein, who – despite the company posting a net loss of $1.1 billion for the fourth quarter (three months to 30 November) – remained optimistic about the group’s recovery from the pandemic.
"We believe we are accelerating our return to strong profitability through our fleet and brand portfolio management, which is delivering prudent capacity growth," said Weinstein. "This leaves us well positioned to drive revenue growth across our global brand portfolio as we continue to leverage our scale on our industry leading cost base."
Carnival reported a "measurable lengthening" in the booking curve after consumer deposits hit a record $5.1 billion in the fourth quarter of 2022, surpassing the previous record quarter which came in 2019 when the company recorded $4.9 billion in deposits.
This, said Carnival, was driven by "very strong" Black Friday and Cyber Monday booking volumes, which the business said marked the start of a "positive" wave sales period.
Fourth-quarter revenue was $3.8 billion, 80% of 2019 levels and stronger than the third quarter of the year, which was 66% of 2019 levels.
And although Q4 occupancy was 19% below 2019 levels, the figure was still better than in Q3 when occupancy was down 29% on pre-pandemic readings.
Changes in fuel price, fuel mix and currency rates, meanwhile, resulted in a $267 million hit compared with the same quarter in 2019.
‘Momentum’
"Throughout 2022, we have successfully returned our fleet to service, aggressively building occupancy on growing capacity, while driving revenue per passenger cruise day higher than 2019 record levels," said Weinstein.
"Booking volumes strengthened following the relaxation in protocols, cancellation trends are improving globally, and we have seen a measurable lengthening in the booking curve, across all brands."
Weinstein added momentum has continued into December, which he said "bodes well" for 2023 as more markets open for cruise travel, Covid protocols continue to relax, increased advertising efforts pay dividends and its brands continue to "hone all aspects" of their revenue-generating activities.
