Carnival's shares rose +5.8% June 4th following the announcement that it will merge P&O Cruises Australia into Carnival Cruise Line.

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"Despite increasing Carnival Cruise Line's capacity by almost 25% since 2019 including transferring three ships from Costa Cruises, guest demand remains incredibly strong so we're leveraging our scale in an even more meaningful way by absorbing an entire brand into the world's most popular cruise line," said Josh Weinstein, chief executive officer of Carnival Corporation & plc.

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"In 2019, Carnival Cruise Line was 29% of our total capacity, and when we complete this move early next year, Carnival Cruise Line – our highest-returning brand – will make up approximately 35% of our total global capacity.

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While our company's overall growth between 2019 – 2028 is projected to be less than 2% (CAGR), the majority will be for Carnival Cruise Line, which will grow by approximately 50% over that time period."

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This move is part of a broader strategy to expand capacity for its flagship brand.

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