Royal Caribbeanreason 04 of 4it makes it for less than anyone else canderived 2026-09-08accession 0000884887-26-000038
We use Available Passenger Cruise Days to perform capacity and rate analysis to identify main non-capacity drivers
Net Yields represent Adjusted Gross Margin per APCD
Total cruise operating expenses increased primarily due to an increase in capacity, not per-unit cost inflation
no findingread · nothing bore on it
It held on this filing. No finding was written because nothing in it bore on the reason — the sentences it was read against are below.
the evidence · every sentence checkedthree sentences · whole, uncut
the claims it rests on
“We use Available Passenger Cruise Days to perform capacity and rate analysis to identify main non-capacity drivers”
“Net Yields represent Adjusted Gross Margin per APCD”
“Total cruise operating expenses increased primarily due to an increase in capacity, not per-unit cost inflation”