Cunard Line's roots extend back to 1838, when Canadian shipping magnate Samuel Cunard and partners formed the British and North American Royal Mail Steam Packet Company. The firm successfully bid on the rights to run a transatlantic shipping company between England and America. Later, the company would change its name to Cunard Steamships Limited, becoming history's greatest name in ocean travel. In 1840, Cunard's first steamship, Britannia, sailed from Liverpool to Boston, marking the start of regular passenger and cargo service. Cunard ships were usually not the largest or the fastest but they were the most reliable and the safest. In the early- to mid-20th century. Cunard liners such as Lusitania, Mauretania, Queen Mary and Queen Elizabeth, set new standards for comfort and service. The prosperous company eventually absorbed White Star Line, its principal competitor. Yet Cunard began to decline in the 1950s, as air travel began replacing ships as the main transporters of passengers and mail across the Atlantic. For much of the late 20th century, and the first few years of the 21st century, Cunard's only vessel making transatlantic crossings was Queen Elizabeth 2. In 2004 QE2 was retired from transatlantic service and replaced by Queen Mary 2. Cunard's next liner, Queen Victoria, is scheduled to enter service in 2007.  In 1988, Cunard Line became a wholly owned subsidiary of Carnival Corp.