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Cruise line sails into rough water overseas

If not for a write-down on Pullmantur, Royal Caribbean would have profited.
Associated Press/File 2012
If not for a write-down on Pullmantur, Royal Caribbean would have profited.

The cruise operator Royal Caribbean­ Cruises Ltd. fell after reporting a quarterly loss related to its Spanish line, Pullmantur. Prices and bookings have plunged since the Spanish government imposed strict austerity measures, limiting the ability of Spaniards to spend. The Miami­ company, which operates the world’s second-largest cruise line, lost $392.8 million in the fourth quarter. But strong US demand is offsetting European losses, the company said.

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