Saga plc, the UK based company that focuses on the over 50s market, said that its cruise activities enjoy strong bookings looking ahead, but that the activities would make a loss in the 2021-22 financial year.

The two upscale vessels of Saga Cruises had generated a positive EBITDA in six months to 26 January that forms the second half of its financial year, but after depreciation and financing costs, they would report a loss in the region of £45 million to £50 million. Occupancy rate had been 68% and the average per diem £299.

However, looking ahead the load factor currently stands at 86% for the

first half and at 73% for full year and per diem of £318 and

£316, respectively,

“With a stronger Insurance business and progress being made in transforming our Travel business, our turnaround strategy is working well. While Omicron has impacted travel bookings through December and January, our outlook for Cruise in 2022/23 and beyond is positive,” CEI Euan Sutherland said in a trading statement.