Business
Carnival Offers Credits to Persuade Passengers to Keep Sailing
The industry may be facing its toughest obstacle yet.
The Grand Princess in 2010.
Photographer: Scott Strazzante/San Francisco Chronicle/AP PhotoThis article is for subscribers only.
The cruise industry has survived torpedoes, terrorists, incompetent captains, the winter vomiting bug, and an iceberg that doomed a ship thought to be unsinkable. Now it may be facing its toughest obstacle yet.
On March 8, the U.S. Department of State, in an unprecedented alert, told citizens not to take cruises. Carnival Corp., the industry leader, saw its share price tumble to levels not seen since the Great Recession. Many customers chose to abandon ship.