Cunard has signed an order with Fincantieri to build a new 2,092–passenger ocean liner, at an all-in cost of approximately €500m. The 92,000 ton vessel, to be called Queen Elizabeth, will be the second largest Cunarder ever built and is scheduled to enter service in the autumn of 2010.

Queen Elizabeth will fly the Red Ensign with her homeport Southampton, as is the case with the other ships in the Cunard fleet.