13 Mar 2012

Carnival loss from Costa Concordia disaster

9:00 am on 13 March 2012

The cruise ship operator Carnival has warned that the sinking of the Costa Concordia cruise ship could wipe out its profits this year.

At least 30 people are believed to have died in the disaster off the Italian coast in January, which Carnival says could reduce profits by as much as 82% this year.

In the quarter to 29 February, it lost $US139 million compared to a $152m profit in the same period last year.

The BBC reports that Carnival's problems were exacerbated when another Costa ship, the Allegra, had to be towed ashore last month.