UPDATE: Royal Caribbean Expecting Impact of $0.10/Share from Grandeur of the Seas Fire
Royal Caribbean Cruises Ltd. (NYSE: RCL) today quantified the financial impact of the Grandeur of the Seas fire.
On May 27, 2013, Royal Caribbean Cruises Ltd.'s vessel Grandeur of the Seas experienced a fire in an industrial area on the aft of the ship. The company has taken the vessel out of service and expects that it will take approximately six weeks to complete the repair efforts. The company estimates that the direct financial impact of this event, net of insurance, is a reduction of $0.10 per share. "The extent of the financial impact was relatively high because the affected sailings were during the premium summer season," said Jason Liberty, senior vice president and chief financial officer. The ship is expected to return to service for its July 12, 2013 sailing date.
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