Saga considering partnership arrangement for cruise business

(Sharecast News) - Saga said on Friday that is considering options for its cruse business, including a partnership arrangement.

Responding to a press report a day earlier, the company said: "The board is exploring opportunities to optimise Saga's operational and strategic position in Cruise, where exceptional demand for its boutique ocean cruise offer means it is operating at close to capacity.

"It has concluded that a partnership arrangement for Ocean Cruise would be consistent with group strategy to move to a capital-light business model to support further growth and crystalise value, reduce debt and enhance long-term returns for shareholders."

Saga, which specialises in products for the over-50s, said no decision has yet been made and there can be no certainty that any partnership agreement will occur.

A further announcement will be made in due course, as appropriate, it added.