In a trading update covering the period 1 February to 18 June, the over-50s specialist said tour operating revenue had fallen 4% year-on-year to date.
“Conditions in the travel market are very competitive and affected by current political uncertainties,” Saga said.
It added: “The group’s tour operations business is not immune to such pressures, with booked revenues for the full year down 4% as of 15 June when compared to the same period last year. In addition, margins for this year will be impacted by competitive discounting.”
Saga said cruise bookings “are more resilient”, adding: “The group expects to be in line with target booking levels for departures this year.”
