Saga seeing sunny side of cabin fever

BORED CUSTOMERS RUSHING TO RE-BOOK CRUISES

OVER-50S travel firm Saga has reported strong pent-up demand for foreign breaks.

Nearly 70% of customers whose Saga cruises were cancelled due to Covid restrictions re-booked rather than take a refund, it said, rising to 86% in recent weeks.

Boss Euan Sutherland said: “They are ready to travel in great numbers and live their lives to the full as the vaccine programme is rolled out.”

Saga, which reported £140million of forward cruise bookings, had already announced all customers would need to be fully vaccinated before they could travel.

There was no word on how it could be affected by possible laws forcing anyone arriving back in

Britain to quarantine in a hotel for 10 days.

Saga cruises start and finish in the UK.

Insiders said it did not travel to Covid-19 hotspots.

The company said: “We are ready to restart both cruise and tours in May, although any changes to Government travel guidance may impact those plans.”

Saga’s update yesterday also revealed its travel business was burning through £6m to £8m each month, which was less than expected. But the firm, which has cut hundreds of jobs and raised £150m to survive the crisis, said its net debt was £785m as of the end of December, up by £139m since the middle of last year. The cruise operator has also started talks with its lenders as it reviews some debt covenants. Despite the suspension of tours, Saga expects to report a profit for the six months to the end of January.

The firm has been helped by its insurance arm which has held up well during the pandemic.

SUMMER SAIL Need for breaks