Saga on track for profits as pandemic recovery continues July 5, 2022 Over-50s specialist Saga said it was on track to return to profits today as it continues its recovery from a pandemic slump.
Over-50s holiday firm Saga Group says cruise demand beats pre-pandemic but warns of short-term challenges March 23, 2022 Over-50s holiday and insurance firm Saga Group said cruise bookings for the coming year were higher than pre-pandemic levels due to pent-up demand from holiday goers.
Saga chief: We failed to modernise during years of private equity ownership October 26, 2021 Saga failed to modernise during years of private equity ownership, and must urgently change, according to the firm’s boss. Euan Sutherland, who joined the firm for the over-50s market in January last year, admitted the company lost its way in how it engaged with older customers. His comments came as the chief executive of the [...]
Smoother sailing: Saga cruise bookings back to pre-Covid levels September 22, 2021 Holidays group Saga has reported smoother sailing with bookings for cruises in 2022 back to levels seen before Covid. The group – which caters to over-50s – said its current booked cruise load factors were at 70 per cent for 2021/22, following legal restrictions on capacity for early cruises. It posted tour operations bookings for [...]
Cruise ship operator Saga’s profit plunges as travel restrictions continue April 7, 2021 Saga, the over 50s holiday and insurance provider, suffered a sharp drop in profit during the coronavirus pandemic due to the negative impact of restrictions on international travel. Underlying profit before tax plunged 84.4 per cent from £109.9m to £17.1m, it said this morning. However, the cruise ship operator posted a statutory loss before tax [...]
Cruise operator Saga in talks with lenders as debt mounts January 26, 2021 Over 50s holiday and insurance provider Saga revealed this morning that it is in talks with lenders about its debt levels as restrictions on travel during the pandemic continue to have a negative impact on its business. Saga it has “significant liquidity and headroom to the current covenants in short term bank facilities”, but it [...]
Saga to require holidaymakers to get Covid-19 vaccine before travel January 20, 2021 Over-50’s holiday provider Saga has announced that all customers will be required to have a Covid-19 vaccination travelling on the firm’s cruises or package holidays. The firm said it is preparing to restart its travel business in May – delayed from the planned April date – to allow customers time to receive a jab. Customers [...]
Saga launches £150m raise as former owner returns September 10, 2020 Cruise and insurance firm Saga today launched a £150m capital raise this morning as the company reported a £55.5m loss for the first half of 2020. As part of the deal, former boss Roger de Haan will return to the company his father founded as non-executive chairman. He will invest up to £100m into the [...]
Saga shares jump on proposed £150m equity raise backed by former boss September 1, 2020 Shares in over-50s insurance and travel business Saga rose today after it confirmed plans to raise £150m via an equity placing backed by its former chief executive. The company said Sir Roger De Haan – its former chief executive and son of the company’s founder – was planning on investing £100m in the company. De [...]
Coronavirus: Saga seeks debt holiday and warns cruises could be suspended for six months April 2, 2020 Saga, the cruise operator and insurance provider for over-50’s, said this morning it plans to ask for a debt holiday as it warned that it could be forced to postpone holidays for up to six months. Saga’s share price dropped more than five per cent after it said full year revenue could be down around [...]