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BA parent company, Carnival cruise firm warn on profits

BA parent company, Carnival cruise firm warn on profits | iNFOnews.ca
Seen though a perimeter fence a British Airways aircraft takes off past a Thomas Cook plane in the background at Gatwick Airport, England, Monday, Sept. 23, 2019. British tour company Thomas Cook collapsed early Monday after failing to secure emergency funding, leaving tens of thousands of vacationers stranded abroad. (AP Photo/Alastair Grant)

LONDON – The parent company of British Airways and cruise ship giant Carnival have each warned their profits will disappoint due to pilot strikes and fuel price increases, respectively.

International Airlines Group says disruption from industrial action means its full-year operating profit will be 215 million euros ($235 million) lower than in 2018, when it made 3.49 billion euros.

Carnival Corp. expects full-year 2019 adjusted earnings per share to be between $4.23 and $4.27. In June, it had said between $4.25 and $4.35.

Looking to 2020, Carnival CEO Arnold Donald warned that as a “global cruise company, with nearly 50% of our guests sourced outside of the U.S., we are facing a number of current headwinds, including weakening economies affecting our Europe & Asia segment.”

Its shares fell over 7% in London.

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