Carnival: 3.8 Percent of Capacity Was Set to Call in Russia

Carnival: 3.8 Percent of Capacity Was Set to Call in Russia

Carnival Corporation had 3.8 per cent of its 2022 cruise capacity calling on Russian ports before Russia's invasion of Ukraine, leading the company to cancel and replace calls to Russian ports.

"We have decided to totally withdraw from Russia and have found attractive alternatives," said President and CEO Arnold Donald, speaking on the company's first-quarter earnings call.

"That said, Saint Petersburg was a marquee port for us. And while there have been times where we were unable to offer certain itineraries, in this instance, the close end nature of the deployment change does lead to some regional disruption in recent booking patterns."

Donald admitted the war had added some volatility to Carnival's business and had impacted consumer confidence.

"With 50 years under our belt, we have successfully managed through a plethora of headwinds like spikes in fuel prices, the Gulf War, Arab Spring, September 11, Ebola, Zika, SARS, MERS and more," Donald said. "And once again, the mobility of ships continues to be an asset. Time and time again, we have seen guests travel through challenges. In fact, Carnival Cruise Line turned 50 this month and recently enjoyed its three best weeks of bookings since resuming operations."