Carnival Corporation & plc is the world's largest cruise company, operating under a dual listed structure with Carnival Corporation incorporated in Panama and Carnival plc incorporated in England and Wales. The company's portfolio includes AIDA Cruises, Carnival Cruise Line, Costa Cruises, Cunard, Holland America Line, P&O Cruises, Princess Cruises, and Seabourn. During 2025, the P&O Cruises (Australia) brand was sunset and its operations folded into Carnival Cruise Line.
The two entities operate as a single economic enterprise with a unified executive management team and identical boards of directors while retaining separate legal identities and stock exchange listings. The boards have proposed unifying the structure under a single corporate entity, Carnival Corporation, listed solely on the NYSE and reincorporated in Bermuda, subject to shareholder approval targeted for April 2026 with completion expected in the second quarter of 2026.
North America 66% · Europe 32% · Cruise 1% · Tour And Other 1%
business segments · FY2025 (ended Nov 2025) · share of tagged segment revenue (10-K XBRL, as filed)
