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Finance Attorney at Carnival Corporation in Miami, FL



$80K — $100K *


Corporate Finance


5 - 7 years

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Valid through: 11/16/2020

About Carnival Corporation

Carnival Corporation & plc is a British-American cruise operator, currently the world's largest travel leisure company, with a combined fleet of over 100 vessels across 10 cruise line brands. A dual-listed company, Carnival is composed of two companies, Panama-incorporated US-headquartered Carnival Corporation and UK-based Carnival plc, which function as one entity. Carnival Corporation is listed on the New York Stock Exchange and Carnival plc is listed on the London Stock Exchange. Carnival is listed in both the S&P 500 and FTSE 250 indices., The Panama-incorporated entity Carnival Corporation has headquarters in the United States, with operational headquarters located in the city of Doral, Florida. The UK entity Carnival plc is based in Southampton., Carnival Corporation was founded as Carnival Cruise Line in 1972. The company grew steadily throughout the 1970s and 1980s, making an initial public offering on the New York Stock Exchange in 1987. The capital generated was used to finance acquisitions. Between 1989 and 1999, the company acquired Holland America Line, Windstar Cruises, Westours, Seabourn Cruise Line, Costa Cruises and Cunard Line. The name Carnival Corporation was adopted in 1993, to distinguish the parent company from its flagship cruise line subsidiary., P&O Princess Cruises plc was formed in 2000, following the demerger of the cruise ship division of the P&O group. Originating as the Peninsular and Oriental Steam Navigation Company in England in 1837, P&O operated the world's first commercial cruise ships. Restructuring of the P&O group in the 20th century led to its cruise operations being rebranded as P&O Cruises and P&O Cruises Australia, with the company acquiring Princess Cruises in 1974. Following the demerger in 2000, the company also acquired AIDA Cruises, as well as establishing the A'Rosa Cruises and Ocean Village brands., In 2003, Carnival Corporation acquired P&O Princess Cruises plc. It was agreed that P&O Princess Cruises plc would remain a separate company, listed on the London Stock Exchange and retaining its British shareholder body and management team. The company was renamed Carnival plc, with the operations of the two companies merged into one entity. Carnival Corporation and Carnival plc jointly own all the operating companies in the Carnival group. Prior to Carnival Corporation's acquisition, P&O Princess Cruises plc had agreed to a merger with Royal Caribbean Cruises Ltd. The deal unraveled as Carnival Corporation initiated a hostile takeover with improved terms for British shareholders., Carnival sold Windstar Cruises to Ambassadors Group in February 2007 and Swan Hellenic to Lord Sterling in March 2007., In October 2015, CSSC Carnival Cruise Shipping, a joint venture between Carnival, the China Investment Corporation, and the China State Shipbuilding Corporation, was founded, with operations expected to commence in 2019., In March 2018, Carnival Corporation announced its intention to invest in the construction of a new terminal in the port of Sasebo, Japan. It is expected to open in 2020., In June 2018, Carnival Corporation announced that it had acquired the White Pass and Yukon Route from TWC Enterprises Limited for US$290 million. The properties acquired were port, railroad and retail operations in Skagway, Alaska., All cruise ship itineraries were cancelled in March 2020 due to the worldwide pandemic and eventually, 55 passengers on ships owned by Carnival Corporation & plc were reported as having died. After months of cancelled cruises, Carnival Corporation & plc announced in September 2020 that it intended to dispose of 18 ships, a full 12% of the global fleet. By that time, four ships had already been scrapped: Carnival Fantasy, Carnival Fascination, Carnival Imagination, Carnival Inspiration and Costa Victoria. The corporation also announced that it was delaying the delivery of several ships already on order. These steps were part of the company's cost-cutting plan, important because the "pause in guest operations continues to have a material negative impact on all aspects of the company’s business, including the company’s liquidity, financial position and results of operations". The adjusted net loss in the third quarter was reported by the Corporation to the U.S. Securities and Exchange Commission as US$1.7 billion., As of September 2020, the no-sail rule by the Centers for Disease Control and Prevention prohibited cruising in the U.S. until October 31, 2020 at the earliest. Members of the Cruise Lines International Association, including Carnival Corporation & plc, had announced in early August that its members were extending a voluntary suspension until October 31; that applied to cruises that were to depart from the U.S. or planned to stop at U.S. ports of call., The Carnival group comprises nine cruise line brands and one cruise experience brand operating a combined fleet of 104 ships., The following operating companies have full executive control of the Carnival brands in their portfolio, with the exception of CSSC Carnival Cruise Shipping in which 40% is controlled:, AIDA Cruises originated from the state-owned German shipping conglomerate Deutsche Seereederei, established in Rostock, Germany, in 1952. The company entered the passenger market in the 1960s, but after the unification of Germany in 1990, the company was privatised and its passenger ships acquired by Deutsche Seetouristik. In 1996, the company launched its first new cruise ship AIDA, but after failing to achieve a profit, the ship was sold to Norwegian Cruise Line, continuing operations under a charter agreement. In 1999, Deutsche Seetouristik was acquired by British shipping company P&O, with the AIDA name being repurchased from NCL. P&O subsequently formed AIDA Cruises as a subsidiary brand, with two new ships ordered to form a fleet. AIDA was renamed AIDAcara, with AIDAvita and AIDAaura launched in 2002 and 2003 respectively., Carnival Cruise Line was founded in 19
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* Ladders Estimates