8-K

                UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(d) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported) March 30, 2005

       Carnival Corporation                                Carnival plc
     ---------------------------                     ------------------------
    (Exact name of registrant                       (Exact name of registrant
     as specified in its charter)                  as specified in its charter)

        Republic of Panama                              England and Wales
    ---------------------------                    ---------------------------
   (State or other jurisdiction                   (State or other jurisdiction
         of incorporation)                              of incorporation)

               1-9610                                        1-15136
       -----------------------                        -----------------------
      (Commission File Number)                       (Commission File Number)

            59-1562976                                     98-0357772
          ----------------                               -----------------
         (I.R.S. Employer                               (I.R.S. Employer
        Identification No.)                             Identification No.)

    3655 N.W. 87th Avenue                    Carnival House, 5 Gainsford Street,
 Miami, Florida  33178-2428                    London SE1 2NE, United Kingdom
 --------------------------                  ----------------------------------
  (Address of principal                            (Address of principal
      executive offices)                               executive offices)
           (Zip Code)                                      (Zip Code)

      (305) 599-2600                                   011 44 20 7940 5381
 ------------------------------                  ------------------------------
(Registrant's telephone number,                 (Registrant's telephone number,
     including area code)                            including area code)

            None                                             None
 ------------------------------                  -----------------------------
(Former name or former address,                 (Former name or former address,
 if changed since last report.)                   if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrants under any of the
following provisions:

|_|   Written communications pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

|_|   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

|_|   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))

|_|   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c))



Section 2 - Financial Information

Item 2.02 Results of Operations and Financial Condition.

      On March 30, 2005 Carnival Corporation & plc issued a press release
entitled "Carnival Corporation & plc Reports Impact of British Merchant Navy
Officers Pension Fund Court Ruling; Technical Problem with P&O Cruises Australia
Ship to Impact Second Quarter Earnings." A copy of this press release is
furnished as Exhibit 99.1 to this report. This information shall not be deemed
"filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended, and is not incorporated by reference into any filing of either Carnival
Corporation or Carnival plc, whether made before or after the date of this
report, regardless of any general incorporation language in the filing.

Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

      (c)   Exhibits

            Exhibit 99.1 Press release, dated March 30, 2005 (furnished pursuant
            to Item 2.02).



SIGNATURES

      Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrants have duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

CARNIVAL CORPORATION                    CARNIVAL PLC


By: /s/Gerald R. Cahill                 By: /s/Gerald R. Cahill
    -------------------                     -------------------
Name:  Gerald R. Cahill                 Name:  Gerald R. Cahill
Title: Executive Vice President         Title: Executive Vice President
and Chief Financial and                 and Chief Financial and
Accounting Officer                      Accounting Officer

Date: March 30, 2005                    Date: March 30, 2005

EX-99.1

                                                                    Exhibit 99.1

    -------------------Press Release, dated March 30, 2005-------------------

                                                           FOR IMMEDIATE RELEASE

       CARNIVAL CORPORATION & PLC REPORTS IMPACT OF BRITISH MERCHANT NAVY
     OFFICERS PENSION FUND COURT RULING; TECHNICAL PROBLEM WITH P&O CRUISES
                AUSTRALIA SHIP TO IMPACT SECOND QUARTER EARNINGS

      MIAMI  (March 30, 2005) - Carnival  Corporation  & plc's  (NYSE/LSE:  CCL;
NYSE: CUK) first quarter 2005 earnings press release dated March 21, 2005 stated
that the company  expected a court decision on March 22, 2005 on how to allocate
a fund deficit in the British  Merchant Navy Officers Pension Fund (MNOPF) among
participating  employers in the fund. The court  announced its decision on March
22.  Notwithstanding  the court's decision,  there are a number of uncertainties
remaining as to the company's portion of the fund's ultimate deficit. Therefore,
under U.S.  GAAP,  any  deficit  will be  recorded by the company as amounts are
invoiced by the fund's trustee,  which is currently expected to be over a period
of at least 10 years.  The company  expects the full year 2005 diluted  earnings
per share  impact for the  company's  portion of this  deficit will be less than
$0.01.

      Carnival  Corporation & plc became a  participating  employer in the MNOPF
multiemployer pension plan primarily as a result of its merger with P&O Princess
and thereby,  assumed the P&O Princess MNOPF obligation.  In accordance with the
court's  March  22  ruling  and  other  factors,  and  assuming  all  the  other
participating  employers are able to pay their share of the MNOPF  deficit,  the
company  believes its share of the ultimate deficit could be in the range of $25
million to $90 million.  The MNOPF deficit is more fully discussed in note 13 to
the company's 2004 annual financial statements.

      The company has also been advised by its P&O Cruises  Australia  unit that
its 46,000-ton,  1,200-passenger Pacific Sky has experienced a technical problem
with a gearbox that will require dry-docking to complete the repair. The ship is
expected  to be out of service  for  approximately  two  months and will  impact
second  quarter 2005  diluted  earnings per share by  approximately  $0.02.  The
Pacific Sky is expected to re-enter service on June 4, 2005.

      Carnival  Corporation & plc is the largest  cruise  vacation  group in the
world,  with a  portfolio  of 12 cruise  brands  in North  America,  Europe  and
Australia,  comprised of Carnival Cruise Lines,  Holland America Line,  Princess
Cruises,  Seabourn Cruise Line, Windstar Cruises,  AIDA Cruises,  Costa Cruises,
Cunard  Line,  Ocean  Village,  P&O  Cruises,  Swan  Hellenic,  and P&O  Cruises
Australia.

      Together,  these brands  operate 78 ships totaling more than 134,000 lower
berths with 12 new ships  scheduled  for  delivery  between  July 2005 and April
2009.  Carnival  Corporation & plc also  operates the leading tour  companies in
Alaska and the Canadian Yukon,  Holland America Tours and Princess Tours. Traded
on both the New York and London Stock Exchanges,  Carnival  Corporation & plc is
the only group in the world to be  included in both the S&P 500 and the FTSE 100
indices.



********************************************************************************

Cautionary note concerning factors that may affect future results

Some of the  statements  contained  in this press  release are  "forward-looking
statements"  that involve risks,  uncertainties  and assumptions with respect to
Carnival Corporation & plc, including some statements concerning future results,
outlook,  plans,  goals and other  events  which  have not yet  occurred.  These
statements are intended to qualify for the safe harbors from liability  provided
by Section 27A of the  Securities  Act of 1933 and Section 21E of the Securities
Exchange Act of 1934.  You can find many,  but not all, of these  statements  by
looking for words like  "will,"  "may,"  "believes,"  "expects,"  "anticipates,"
"forecast,"  "future,"  "intends,"  "plans,"  and  "estimates"  and for  similar
expressions.

Because  forward-looking  statements involve risks and uncertainties,  there are
many  factors that could cause  Carnival  Corporation  & plc's  actual  results,
performance or achievements to differ materially from those expressed or implied
in this earnings release.  Forward-looking  statements  include those statements
which may impact the  forecasting  of earnings  per share,  net revenue  yields,
booking levels, pricing, occupancy, operating, financing and/or tax costs, costs
per available lower berth day,  estimates of ship depreciable lives and residual
values,  outlook or  business  prospects.  These  factors  include,  but are not
limited to, the following:  risks  associated with the DLC structure,  including
the  uncertainty of its tax status;  general  economic and business  conditions,
which may impact  levels of  disposable  income of consumers and the net revenue
yields for cruise brands of Carnival Corporation & plc; conditions in the cruise
and land-based vacation industries, including competition from other cruise ship
operators and providers of other vacation alternatives and increases in capacity
offered by cruise ship and land-based  vacation  alternatives;  risks associated
with  operating  internationally;   the  international  political  and  economic
climate, armed conflicts, terrorist attacks and threats thereof, availability of
air service,  other world events and adverse publicity,  and their impact on the
demand for cruises;  accidents and other incidents affecting the health, safety,
security  and vacation  satisfaction  of  passengers,  including  machinery  and
equipment  failures,  which could cause the cancellation of a cruise or a series
of cruises;  changing  public and consumer  tastes and  preferences,  which may,
among other  things,  adversely  impact the demand for  cruises;  the ability of
Carnival  Corporation  & plc to implement  its  shipbuilding  programs and brand
strategies  and to continue  to expand its  business  worldwide;  the ability of
Carnival  Corporation & plc to attract and retain  qualified  shipboard crew and
maintain good relations with employee unions; the ability to obtain financing on
terms  that are  favorable  or  consistent  with  Carnival  Corporation  & plc's
expectations;  the impact of changes in operating and financing costs, including
changes  in  foreign  currency  and  interest  rates  and fuel,  food,  payroll,
insurance and security costs; changes in the tax, environmental, health, safety,
security and other  regulatory  regimes under which  Carnival  Corporation & plc
operates; continued availability of attractive port destinations; the ability to
successfully   implement  cost  improvement  plans  and  to  integrate  business
acquisitions;  continuing  financial  viability of Carnival  Corporation & plc's
travel agent distribution system and air service providers;  and unusual weather
patterns or natural disasters, such as hurricanes and earthquakes.

Forward-looking  statements  should not be relied upon as a prediction of actual
results.  Subject to any  continuing  obligations  under  applicable  law or any
relevant  listing  rules,  Carnival  Corporation & plc  expressly  disclaims any
obligation  to  disseminate,  after the date of this  release,  any  updates  or
revisions  to any such  forward-looking  statements  to  reflect  any  change in
expectations or events, conditions or circumstances on which any such statements
are based.

MEDIA CONTACTS                          INVESTOR RELATIONS CONTACT
US                                      US/UK
Carnival Corporation & plc              Carnival Corporation & plc
Tim Gallagher                           Beth Roberts
1 305 599 2600, ext. 16000              1 305 406 4832

UK
Brunswick Group
Sophie Fitton/Sarah Tovey
44 (0) 20 7404 5959