1998. Carnival Corporation acquires a 68 percent stake in the venerable Cunard Line, operator of the famed Queen Elizabeth 2 (Carnival purchases the remaining 32 percent share of Cunard in 1999 and simultaneously takes 100 percent control of Seabourn).

Carnival Corporation officially took control of Cunard Line in 1998, a move that fundamentally reshaped the luxury cruise industry. At the time, Cunard was struggling financially despite its storied history and prestige. Carnival formed a consortium with Norwegian investors (Kerdos Investment) to purchase the line for approximately $500 million. By 1999, Carnival bought out the remaining interests to become the sole owner. Under Carnival's leadership, the brand underwent a massive revitalization, most notably with the commissioning of the Queen Mary 2, which debuted in 2004 as the largest and most expensive ocean liner ever built at the time. This acquisition allowed Carnival to diversify its portfolio, adding a "super-premium" traditional British brand to its fleet which already included mass-market brands like Carnival Cruise Line and mid-tier options like Holland America. Today, Cunard operates as a standalone luxury brand within the Carnival Corporation & plc umbrella, maintaining its unique identity as the only company providing regular scheduled transatlantic crossings while benefiting from the massive logistical and financial scale of the world's largest cruise company.