News

P&O PRINCESS Cruises reported a drop in bookings of 25% immediately after the September 11 attacks.

Princess' third quarter financial results revealed that forward bookings are now back to the level they were last year and profits increased by 5% compared to the same period last year.

Executive vice-president corporate development Gwyn Hughes said the increase in profit, from £150 million in 2000 to £163 million in 2001, was from bookings made before September 11.

He said: "People have generally not cancelled and we are now seeing bookings come back. We have an advantage with being able to move ships to where the market wants them."

He said that in the UK there has been a drop in winter bookings, but summer bookings are holding up.

He said the critical period will be in January when people start booking for the winter and 2003.

"We have no idea what to expect next year, it is too early to estimate but we hope consumer advertising campaigns will secure more bookings," Hughes added.