Friday, October 10, 2008

Carnival Brands to Set Elimination of Fuel Supplement

This afternoon Carnival Corp made two announcements regarding their US brands' fuel supplements.

The first deals with 2010 sailings. Effective on October 31, they will eliminate the supplement while simultaneously increasing prices, effectively rolling the price of fuel into the fare.

In the second part of the announcement, they set guidelines for removing it from 2008 and 2009 sailings. For that to happen, the company said, the price of oil would have to be $70 per barrel or less at the 2:30pm close of business (as reported by Reuters) for 25 consecutive trading days. At that point the brands would removed the surcharge on sailings at least five trading days in the future.

Details to follow.