Cruise line weathers problems.Byline: The Register-Guard Ads for Royal Caribbean Cruises Ltd. show luxurious ships sailing smooth seas. But the world's second-largest cruise operator has encountered turbulent waters in the stormy travel industry. Founded in 1968, the company operates 28 ships that carry more than 2 million passengers a year to about 160 destinations, including Alaska, the Caribbean and Europe. Co-founder Arne Wilhelmsen owns about 22 percent of the company and the Pritzker family The Pritzker family is one of America's wealthiest, and has been near the top of Forbes magazine's "America's Richest Families" list since the magazine began in 1982. of Chicago owns nearly a quarter of the company. Bookings are picking up a year after the Iraq war Iraq War: see under Persian Gulf Wars. Iraq War or Second Persian Gulf War Brief conflict in 2003 between Iraq and a combined force of troops largely from the U.S. and Great Britain; and a subsequent U.S. and the outbreak of viruses on ships crimped crimped said of grain that has been passed through corrugated rollers after previous exposure to moist heat so that the grain is fractured but there is a minimum of dust. demand for cruises, according to Bloomberg News. Royal Caribbean reported a first-quarter profit of $95.8 million on revenue of $1.06 billion. Profits are up 80 percent from the same quarter a year ago. But company filings with the Securities and Exchange Commission outline the many risks facing the firm. Royal Caribbean operates in a fiercely competitive market. Its chief rival is Carnival Corporation & plc, which owns Carnival Cruise Lines This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. , Holland America Line Holland America was founded in 1873 as the Dutch-America Steamship Company, a shipping and Passenger line. Because it was headquartered in Rotterdam and provided service to the Americas, it became known as Holland America Line (HAL). and other lines. Wars, terrorist acts and political instability can make consumers wary of travel, reducing demand for cruises. So can onboard outbreaks of food-borne and other illnesses. The company's cost of doing business is greatly influenced by fuel costs, which have been rising sharply. Environmental regulation also can affect operating costs. Royal Caribbean has paid more than $30 million in fines in the past five years for dumping oil and polluted waste water, in addition to falsifying fal·si·fy v. fal·si·fied, fal·si·fy·ing, fal·si·fies v.tr. 1. To state untruthfully; misrepresent. 2. a. ship logs. - Sherri Buri McDonald |
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