Princess’s flower’s ill fortune (8)

I believe the answer is:

disaster

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'ill fortune' is the definition.
'disaster' can be an answer for 'fortune' (disaster is a kind of fortune). I am not sure about the 'ill' bit.

'princess's flower's' is the wordplay.
'princess's' becomes 'dis'.
'flower' becomes 'aster' (aster is a kind of flower).
'dis'+'aster'='DISASTER'

Can you help me to learn more?

(Other definitions for disaster that I've seen before include "complete failure" , "awful situation" , "Catastrophic occurrence" , "Event causing great damage" , "terrible trouble" .)

I've seen this clue in The Hindu.

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