Earlier this week Carnival Corporation finalized it’s plans for a joint cruise venture with Spain-based Iberojet to form a new cruise line called Iberocruceros. Carnival and Spanish travel consortia, Orizonia Corporation, are expected to close the transaction on September 14 with Carnival owning 75 percent of the joint venture and Orizonia the other 25 percent.  Madrid-based Iberocruceros will combine Grand Mistral and Grand Voyager with Carnival Celebration (expected to join the Spanish fleet in late spring after an extensive renovation); together the three ships will encompass a total of 3,564 berths. 

At the same time, Carnival “auf-ed” its proposed deal with German tour operator, TUI to form TUI Cruises.  Carnival says the difficult regulatory environment in Germany made it impossible to close the joint venture this fiscal year. Carnival said it would continue to explore other opportunities with TUI.