UPDATE 2-Britain's Saga asks for debt relief as casts doubt on 2020 holidays [Reuters (UK)]
D/B/A Royal Caribbean Cruises Ltd. (RCL)
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Source: Reuters
Britain's Saga asks for debt relief as casts doubt on 2020 holidays - Reuters 3 Min Read (Reuters) - British over-50s holidays and insurance specialist Saga ( SAGA.L ) warned on Thursday it could suspend all cruises and vacations until 2021 under a worst case coronavirus scenario and said it was asking for a year’s debt holiday. Saga, whose shares have fallen nearly 70% in 2020, said the future was “uncertain” as it ditched its dividend after posting a 39% fall in profit for the year to the end of January. Saga, which has suspended its cruises until May, also said it was looking to halt debt payments. “The Group will apply for a waiver of the covenants in the ship debt and is likely to apply for a debt holiday for the period to 31 March 2021 under a package of proposals that are being put together for the cruise industry,” Saga said. Shares in Saga, one of several cruise operators forced to halt all sailings by the coronavirus pandemic, were down 4.1% to 16.92 pence at 0957 GMT afte
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