CCL » Topics » Description of Business

This excerpt taken from the CCL 10-K filed Jan 29, 2009.

Description of Business

Carnival Corporation is incorporated in Panama, and Carnival plc is incorporated in England and Wales. Carnival Corporation and Carnival plc operate a dual listed company (“DLC”), whereby the businesses of Carnival Corporation and Carnival plc are combined through a number of contracts and through provisions in Carnival Corporation’s articles of incorporation and by-laws and Carnival plc’s memorandum of association and articles of association. The two companies operate as if they are a single economic enterprise, but each has retained its separate legal identity. Each company’s shares are publicly traded; on the New York Stock Exchange (“NYSE”) for Carnival Corporation and the London Stock Exchange for Carnival plc. In addition, Carnival plc American Depository Shares are traded on the NYSE. See Note 3.

The accompanying consolidated financial statements include the accounts of Carnival Corporation and Carnival plc and their respective subsidiaries. Together with their consolidated subsidiaries they are referred to collectively in these consolidated financial statements and elsewhere in this 2008 Annual Report as “Carnival Corporation & plc,” “our,” “us,” and “we.”

We are the largest cruise company and one of the largest vacation companies in the world. As of November 30, 2008, a summary by brand of our passenger capacity, the number of cruise ships we operate, and the primary areas in which they are marketed is as follows:

 

Cruise Brand

   Passenger
Capacity(a)
   Number of
Cruise Ships
  

Primary

Market

Carnival Cruise Lines

   52,286    22    North America

Princess Cruises (“Princess”)

   37,532    17    North America

Costa Cruises (“Costa”)

   23,196    12    Europe

Holland America Line

   21,088    14    North America

P&O Cruises

   11,998    6    United Kingdom

AIDA Cruises (“AIDA”)

   7,812    5    Germany

Cunard Line (“Cunard”)

   4,572    2    United Kingdom and North America

Ibero Cruises (“Ibero”)

   3,570    3    Spain and Brazil

Ocean Village(b)

   3,286    2    United Kingdom

P&O Cruises Australia

   3,076    2    Australia and New Zealand

The Yachts of Seabourn (“Seabourn”)

   624    3    North America
            
   169,040    88   
            

 

(a) In accordance with cruise industry practice, passenger capacity is calculated based on two passengers per cabin even though some cabins can accommodate three or more passengers.

 

(b) The Ocean Village brand will be phased-out with the transfer of its ships to P&O Cruises Australia in November 2009 and November 2010.
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