Subscribe to RSS feedCruiser in black after settlement
A LEGAL settlement with Rolls-Royce in January accounted for almost the entire first-quarter net profit of US$87.4m reported by cruise major Royal Caribbean. The figure compares with a net loss of US$36.2m for the first quarter of 2009.
Without the Rolls-Royce settlement of some US$85.6m to compensate the cruise line for repeated Mermaid pod propulsion failures, Royal Caribbean would still have ended up in the black for the first quarter this year – but only just.
Nevertheless, Royal...
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