Royal Caribbean lifts earnings forecast

[NEW YORK] Royal Caribbean Cruises raised its full-year earnings forecast due to greater demand in Europe and said bookings for 2014 were trending higher, signalling a revival in an industry hit by negative publicity from a series of mishaps.

Royal Caribbean, the second-largest cruise operator in the world, reported quarterly results that beat Wall Street estimates and said it had higher bookings for 2014 in most markets including Europe, Asia and Alaska.

The company's strong results come after rival Carnival Corp warned in September that it might report an adjusted loss for the fourth quarter, following a 30 per cent fall in third-quarter profit. Headline-grabbing accidents over the past couple of years, such as the sinking of the Costa Concordia off the coast of Italy, have hurt demand in the cruise industry.