Costa counts cost of latest cruise mishap

Costa counts cost of latest cruise mishap
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The latest problems involving a ship operated by the Costa Crociere cruise line are bound to have the company, its parent – US based Carnival Corporation – and others in the industry worrying about further financial effects.

Carnival accounts for about three quarters of that cruise industry and Costa Crociere is a major component of it.

The Italian arm operates 15 ships and carried 2.14 million passengers in 2010, the latest year for which figures are available.

Its turnover that year was 2.85 billion euros and 19,000 people work for the company.

The latest accident came just weeks after the Costa Concordia ran aground and capsized off the Italian island of Giglio.

After that Carnival said its income for the current financial year would take a hit of between 85 and 130 million euros.

Costa said bookings have dropped by 35 percent since the Concordia shipwreck.

Industry analysts noted that sales remain strong for most operators but they have been offering discounts and running promotions.

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