As a single economic entity, Carnival Corporation & Carnival plc is the largest cruise operator in the world. Following the April 2003 dual-listed company (DLC) transaction between Carnival Corporation and P&O Princess Cruises (now Carnival plc), the combined entity is dual-listed on both the New York Stock Exchange (NYSE) and London Stock Exchange (LSE). Each Carnival Corporation ordinary share is equal to one Carnival plc ordinary share and one Carnival plc American Depository Share (ADS). The company is the only entity in the world to be included in both the S&P 500 and the Financial Times Stock Exchange (FTSE) 100 indices.
Carnival's cruise ships offer various itineraries to passengers worldwide under leading cruise brands. In North America, the company services the contemporary cruise segment through its Carnival brand, the premium cruise segment through its Holland America and Princess brands, and the luxury cruise segment through its Seabourn and Windstar brands. Beyond North America, the company services the U.K. cruise market through its P&O Cruises, Ocean Village, and Swan Hellenic brands the German cruise market through its AIDA brand Southern European cruise markets through its Costa brand and the Australian cruise market through its P&O Australia contemporary cruise brand. Carnival also offers transatlantic and worldwide cruises aboard its world-renown Queen Mary 2 and Queen Elizabeth 2, both part of the company's Cunard line. It also operates tour businesses under Holland America Tours and Princess Tours. Together, these brands operate 85 ships totaling approximately 158,000 lower berths. The company also has 22 new ships scheduled for delivery between April 2008 and May 2012.