SAGA Investor Update
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Impact of COVID-19 to date - Tour Operations
On 16 March we suspended all Saga Holidays and Titan departures until 31 May 2020
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Estimated £9m impact on profit before tax
~20% of customers on cancelled departures have rebooked
Customer repayments met from CAA ring fenced Group cash
£7m of cash provided by Saga Group to ensure headroom to CAA cash collateral requirements
At the end of March there were £55m cash deposits corresponding to £69m of advanced
receipts.
Bookings for the remainder of the year have been impacted by COVID-19 uncertainty: 55% of target
for last 5 months of 20/21 and 6.8% of target for 21/22
Booked revenue for period from September 2020 to January 2021 of £79m, with passengers of 33k
(comparative figure for prior year was £89m, and passengers of 39k)
SAGA
Investor update 2 April 2020
The Tour Operations business is a ring fenced Group backed
by £55m cash deposits against £69m advanced receipts
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