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CEO Speaks Out on Costa Cruises Name Change

USA Today Travel  |  The head of Costa Cruises' parent company says he's confident the brand can make a comeback in the wake of the Costa Concordia accident, and he has no plans to scale it back or change its name.

"It is damaged. It will take some time (to rebound), but we'd be crazy to abandon such a powerful brand," Carnival Corp. Chairman and CEO Micky Arison tells USA TODAY in one of his first interviews since the Jan. 13 accident.

The vote of confidence in Costa comes after Carnival Corp. on Friday revealed for the first time just how dramatically bookings have fallen at the line in the weeks since the accident. In a conference call to discuss quarterly earnings, Carnival Corp. COO Howard Frank told Wall Street analysts that Costa bookings plunged 80% to 90% as compared to a year earlier in the four weeks after the event, and bookings remain down 40% to 50% in recent weeks.

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