P&O Princess Cruises


P&O Princess Cruises
P&O Princess Cruises PLC
Type Public
Fate Merged with Carnival Corporation, 2003
Predecessor Peninsular and Oriental Steam Navigation Company
Successor Carnival Corporation & PLC
Founded 2000
Headquarters London, England
Website poprincesscruises.com

P&O Princess Cruises plc (stock symbol in London and NYSE: POC[1][2]) was a shipping company that existed between 2000 and 2003, operating the P&O Cruises, Princess Cruises, P&O Cruises Australia, A'Rosa Cruises, AIDA Cruises and Ocean Village branded cruise lines. The company was formed from the de-merged passenger services of the Peninsular & Oriental Steam Navigation Company (P&O) and operated until 2003 when it was re-listed as Carnival plc following a merger with Carnival Corporation. Its registered office was in the City of Westminster, London.

Contents

History

P&O Princess Cruises PLC originated from the Peninsular & Oriental Steam Navigation Company (P&O), founded in England in 1837. In 1844, the company began operating passenger services which were the forerunner of modern cruise holidays, and as such it became recognised as the world's oldest cruise line.

In 1974, P&O acquired Princess Cruises, a North American cruise line founded in 1966 by Stanley McDonald.

In 1977, P&O de-merged its passenger services division to form P&O Cruises and P&O Cruises Australia

In 1999, P&O acquired the Germany cruise line, AIDA Cruises.[3]

In 2000, P&O de-merged its cruise ship operations, forming a new company, P&O Princess Cruises Ltd. The company was listed on the London Stock Exchange, making it completely independent of the P&O Group. The company operated the P&O Cruises, P&O Cruises Australia, Princess Cruises and AIDA Cruises brands.

In 2001, talks were held with Royal Caribbean and Festival Cruises to discuss a possible merger.

In 2001, P&O Princess Cruises PLC launched the Ocean Village and A'Rosa Cruises brands.

In 2003, P&O Princess Cruises PLC merged with Carnival Corporation to form Carnival Corporation & plc.[4] As a result of the merger, P&O Princess Cruises PLC was re-listed as Carnival PLC, becoming the UK holding company of the Carnival Group. As Carnival PLC, the company largely retained the P&O Princess executive team and shareholder body, with executive control of the groups activities in the UK and Australia.

Head office

The P&O Princess head office was in City of Westminster, London.[5] After P&O accepted a takeover from Carnival Corporation in 2003, the company planned to close the P&O head office in London. P&O Princess offered the 25 employees there a relocation to the P&O Cruises offices in Southampton or dismissal from the company.[6]

Ship Ownership

During its brief existence, P&O Princess Cruises PLC owned a number of cruise ships:

Today

The company formerly known as P&O Princess PLC continues to operate as a constituent of the Carnival Group, with executive control of the group's operations in the United Kingdom and Australia. Based at Carnival House in Southampton, Carnival PLC provides executive control of P&O Cruises, P&O Cruises Australia, Cunard Line and Ocean Village. with additional responsibility for the UK sales and marketing of Princess Cruises.

References

  1. ^ "P&O Princess Cruises plc (NYSE:POC)." Yahoo! Finance. Retrieved on September 19, 2011.
  2. ^ "About Princess." Princess Cruises. 1 June 2002. Retrieved on 19 September 2011.
  3. ^ The AIDA Experience
  4. ^ EC Clears Carnival and P&O Princess Merge Marinelink, 11 February 2003
  5. ^ "Contact." P&O Princess Cruises. 5 June 2002. Retrieved on 19 September 2011. "P&O Princess Cruises plc Registered office: 77 New Oxford Street London WC1A 1PP UK"
  6. ^ Macalister, Terry. "Carnival 'yes' brings £1m bonus." The Guardian. Wednesday 16 April 2003. Retrieved on 19 September 2011.

External links

Portal icon London portal
Portal icon Companies portal
Portal icon Nautical portal

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