As Costa Concordia death toll rises, Citi studies the bottom line

The negative PR surrounding the disaster, replete with haunting images, could hurt the cruise industry financially for longer than usual after such a calamity, the report says.

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Amid the news stories about the rescue efforts and the captain’s apparent recklessness and cowardice, public relations blogs and publications have covered the cruise ship and its parent company’s response to the disaster.

PRWeek‘s U.K. edition said that Carnival Cruises, which owns the Costa Concordia, brought in Burson-Marsteller to handle crisis PR, and Rooster PR, an agency in the U.K. and Ireland, handled press inquiries for the ship throughout the weekend.

According to PRNewser, company owners in Italy held two press conferences, and the CEO of Carnival Cruises responded from the United States.

Although it might sound crass given the loss of life, executives at the company are undoubtedly looking at the potential financial impact of the disaster—and, according to Citi, it will hurt not only Carnival’s bottom line but that of the entire cruise industry.

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