Under pressure quoted company, Saga plc has confirmed that its Board is exploring opportunities to optimise its operational and strategic position in its cruise business.
The insurance and finance company, primarily catering for the over 50s, claimed that there is exceptional demand for its boutique ocean cruise offering, resulting in the two ships operating at close to capacity.
As a result, Saga said it was exploring a partnership arrangement for its Ocean Cruise division, which it claimed 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.
No decision has yet been made and there can be no certainty that any partnership agreement will occur, Saga stressed.
A further announcement will be made in due course, as appropriate, the company added in a statement.