Saga has reportedly paused efforts to sell its escorted touring brand Titan Travel owing to the ongoing impact of the coronavirus crisis on the travel sector.
Sky News reports Saga has postponed plans to auction off Titan, which it acquired in 2009. Saga declined to comment on the matter when approached by Sky, and again when approached by TTG.
According to Sky, several private equity firms have prepared offers for Titan, which is valued at around £100 million.
Saga will deliver its full-year results next month. In a January trading update, it reported a one-off £4 million hit arising from the collapse of Thomas Cook.
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Saga has reportedly paused efforts to sell its escorted touring brand Titan Travel owing to the ongoing impact of the coronavirus crisis on the travel sector.
Sky News reports Saga has postponed plans to auction off Titan, which it acquired in 2009. Saga declined to comment on the matter when approached by Sky, and again when approached by TTG.
According to Sky, several private equity firms have prepared offers for Titan, which is valued at around £100 million.
Saga will deliver its full-year results next month. In a January trading update, it reported a one-off £4 million hit arising from the collapse of Thomas Cook.
It also said it expected tour operator revenue to come in around 5% down on 2018/19, albeit offset by “excellent progress” made by its cruising division, which it expects to deliver full-year underlying profit “in line with previous guidance”.
Saga Group in December appointed a new chief executive, Euan Sutherland, and in January confirmed former Saga Holidays executive Chris Simmonds would return as managing director this month.
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