Saga Holidays to sell a range of Fred. Olsen cruises

Fred. Olsen said Saga will provide an important sales distribution channel for early- to mid-term business, helping to reduce the volume of last-minute bookings, which can have a negative impact on yields.

The new agreement is expected to improve Fred. Olsen yields significantly, and the line's financial position overall, according to Nathan Philpot, sales and marketing director.

'With Saga concentrating on selling regional departures early, we will be able to maintain sensible prices and maximise yields, which will benefit Saga, Fred. Olsen and our travel trade partners alike,' Philpot said.

'We will now be able to offer even greater choice to today’s over-50s. Customers will get all the extras that those who book with Saga directly enjoy, and the security that we will offer a great experience at excellent value,' added Robin Shaw, chief executive of Saga Cruises.

Fred. Olsen and Saga previously had many years as trading partners.