Saga Posts Surprise Profit Amid Cruise Shutdown
Maritime Activity Reports, Inc. April 7, 2021
© Wolfgang Plapp / MarineTraffic.com
Saga on Wednesday reported a stronger than expected annual profit, sending its shares sharply higher, as lower motor insurance payouts during lockdowns offset losses in its over-50s tour and cruise operations.
The British company, hit hard last year by a shutdown of cruises globally and collapse of other travel, said it was ready to resume its tour and cruise businesses this year after suspending them in March 2020, with timing subject to government restrictions.
“Customer demand remains strong, with evidence of significant pent-up demand from customers ready to travel,” Saga said.
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