Official sources of British-American Carnival Corporation & Plc, the parent company of stricken luxury cruise ship Costa Concordia, revealed that the company will have to bear a loss up to $95m by the sinking of plunged ship.
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| British-American Carnival Corporation & Plc to suffer losses up to $95 million for sinking Costa Concordia |
"For the fiscal year ending November 30, the impact to 2012 earnings for loss of use is expected to be approximately $85-$95m or $0.11-$0.12 per share," Carnival said in a statement to the London Stock Exchange.
Though the company would enjoy an insurance coverage for damage to the ship with an approximately $30m.
"The vessel is expected to be out of service for the remainder of our current fiscal year if not longer," the statement revealed further.
The tragedy could hit the company even more severely as its shares already dropped 18% in early trading after the statement mentioning that the loss of earning from the capsizing of Costa Concordia to be between $85m and $95m.
The cruise ship ran aground near the island of Giglio off the coast of Tuscany on Friday evening, killing six people.
Italian, German, French and British nationals were among the 4,200 passengers on board.
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