I got it instead of a company car for my new job just before Covid, then Covid screwed me. I was doing 30k miles a year so needed something half decent. Anyway….Saga saved the day. GLA
Someone stuck a £424k / £100k in at 1636 ‘ordinary’ not UT.
Might have to buy some on a CFD later??
I only sold a third to pay off my car loan and next years holiday as Nat West are in my arse after deferring my loan payments for 6 months!
Banbury hahahahah
You can thank me…just sold a third, 5 minutes lates jumps another 10p…..standard!!
There’s no doubt travel in general and TOUR will boom from next year.
It seems the new boss has been brought in to turn it around for the better…because no one has any money to buy it now.
It makes me wonder….do they make the equivalent or even more on selling the Travel Insurance along side it to make it even more profitable? There’s something to get your teeth into BB
1, How many Saga customers buy TOUR with SAGA travel insurance?
2. SAGA demographic customers tend to buy a yearly policy?! Because they travel a lot, increasing margin and profitability? So let’s ask?! Nicely interlinked.
4. S**t margins at 3% but are they making more on the travel insurance policies? Also once they’re sold a Travel policy they are using there DATA to upsell? Car and House etc etc. Could we see a 3 year fix on Travel Insurance Policies?
All food for thought!?
Banbury & Gordon. I totally agree with you in terms of getting rid of TOUR for the exact reasons you gave. Rubbish margins and open to bad world events. So I go back on my word slightly and changed my mind.
However when functioning in a normal world environment it would add slight value, especially for the travel insurance side, but not enough I feel. Insurance and Cruise is a nice little mix.
What I can’t get my head around is the burn on TOUR? BB the reason they were not furloughed is like myself, and other travel agents for instance is, they had to deal with all the cancellations, refunds and rebookings. The fact the government kept opening and re-opening Travel didn’t help whatsoever, so people started booking again, then cancelling and re-booking again and again!! An absolute mess by the government. But essentially on that, it’s only staff wages that they should be burning really, as no fixed costs apart from the river cruises?
The only thing I can think of is what you said about the ‘ring fencing’ receipts and still feeling the effect.
This should be all dealt with now though.
Agreed, ramping up operations from a dormant position. Advertising, wages, ship preparation, sea trials, covid testing measures before on boarding put in place. Docking costs for arranged ports of call. Arranging customers travel from home etc etc etc is my guess, which seems reasonable.
Banbury - much to your displeasure pal it looks like they are investing in Titan and growing the operation. IMO this could be good as we emerge from the pandemic.
Demand is massive for next year….and hopefully later this year going, into the peak booking period for SAGA customer demographic being September and October. It has a good solid name so kind of makes sense to me. GLA. Monday looks very positive to me.
https://travelweekly.co.uk/news/tour-operators/ex-sta-boss-takes-helm-at-titan-travel
Looks like an investment rather than a sale??
Great news, well done FJ, thanks
Could do with an update on that this Monday. Interesting to see where they are at? Possible forgotten hidden gem??
Definitely mate, there loss! To be fair, it’s about the ships, and spending 95% of there time on the ships the customers are paying for. No one gives a s**t really where they stop. No one paid to visit Scotland. They just want to be on a cruise ship.
Absolute morons!
https://travelweekly.co.uk/news/cruise/cruise-lines-review-scottish-sailings-amid-cruise-ban
I’m the biggest optimist there is, and I own a travel agency….but now lost faith completely. There intent on making people spend there cash in the UK. I’m all in on SAGA though for a proper recovery play and sold out here. DYOR. GLA.
The Government is intent on people spending all there cash in the UK this summer. Foreign travel looks bleak. I own a travel agency, and had my hopes pinned on opening up, but doesn’t look like it. However I’m all in on SAGA if you want a proper recovery play. DYOR. GLA
Some absolutely AMAZING TIMING by the directors to buy there shares, 2 weeks before a jump. Must be some crystal ball that.
100% FJ. Turn the news off and enjoy the sunshine!
From .gov below. Nothing changes for us short term.
Domestic cruises
Domestic cruises depart from and return to UK ports. They may operate beyond UK waters, but are currently restricted to UK port calls and carrying residents from the UK and the Common Travel Area (Jersey, Guernsey, Isle of Man and Ireland) only.
Passengers from outside England should check their local travel restrictions before making travel plans.
Coronavirus restrictions
Coronavirus restrictions apply in England.
Roadmap out of lockdown
The government has announced its plans to ease lockdown restrictions.
Roadmap step 3 – from 17 May
Domestic cruises are permitted in England under step 3 of the roadmap out of lockdown.
Domestic cruises can operate with up to 1,000 people or 50% capacity, whichever is lower. This capacity limit applies to passengers only.
COVID-secure guidance applies. Groups of more than 6 people or 2 households will not be allowed to mix indoors – whether or not they originally booked in the same group.
Having been away this week at a tourist destination area. The amount of money being spent within the UK must be phenomenal! He wants us spending in the UK.
Not sure how long they can keep it up before people start rebelling.
I expect a ‘release’ end of July for school summer holidays.
Fortunately for us we start sailing and ending the cash burn and start making money, end of this month....and fully expect by end of August international cruising to be Ok.
I think the big airlines/operators are really going to struggle now.
Even though Saga is predominantly insurance, unfortunately we have been thrown in the travel bucket. So having looked at the charts for other travel companies we seem to be following the same patterns. Although we are holding up much much better. Just IMO, DYOR.