Carnival Corporation, owners of Cunard, P&O Cruises, and Princess Cruises, which all have their UK base in Southampton, has seen income slump following the Costa Concordia tragedy.
Carnival said the loss of the ship, which killed 25 people with seven more still missing, would significantly hit profits this year.
In the three months to February 29, the company lost $139m (£83.6m) compared to a $152m profit in the same period last year.
Issuing this year's first quarter figures, Carnival said the impact of the Italian disaster had been worse in Europe than on its North American brands.
Carnival Corporation chairman and chief executive, Micky Arison said: “Our company is resilient and we will continue to work through this challenging period.
“We have every confidence that we will restore consumer faith in the Costa brand.''
Costa Concordia is being written off as a total loss. Carnival will receive $515 million in insurance for the ship, which sank after hitting rocks off the Italian island of Giglio in January.
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