Coronavirus Outbreak Affects Saga’s Cruise, Tour Businesses

SagaImage Courtesy: Meyer Werft

British cruise and travel company Saga said that is cruise and tour businesses have experienced an increase in near-term cancellations due to the evolving coronavirus outbreak.

“Our Tour Operations businesses have experienced an increase in cancellations and suppressed demand in line with the industry,” Saga informed in a trading update.

“Forward passenger bookings for 2020/21 were down around 20% versus the prior year, with a more significant impact in recent weeks.”

As explained, the company has seen a higher level of cancellations for departures in the near-term and more generally a lower level of bookings for departures further out, although Saga’s two most recent departures had load factors of about 80%.

“The evolution of COVID-19 and the impact this will have on full year earnings for 2020/21 cannot be predicted with any certainty at the current time,” the company noted.

Specifically, Saga anticipates its travel business to be affected by the coronavirus. It added that cost efficiency actions are already underway to mitigate the weaker trading.

The group, which will release its full-year results on April 2, reiterated that underlying profit before tax is expected to be in line with expectations.

As of March 6, the coronavirus outbreak has infected about 100,000 persons and killed about 3,400 people around the world.

Share this article

Follow World Maritime News

In Depth>

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

The 9th Annual Event Green Shiptech China Congress 2020

The 9th Annual Event- Green Shiptech China Congress 2020 will be held on next…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >

World Future Ports Summit 2020

This event will bring together ports and maritime shipping professionals from global leading companies and authorities to discuss recent digital technologies…

read more >