Saga has announced a significant expansion of its river cruise business, with four new ships to be added on four new rivers, capitalising on the growing popularity of river cruising.

The news comes as the over-50s cruise and insurance business confirmed it narrowed its losses last year as easing Covid-19 restrictions allowed the company to take more passengers on trips.

The company said pre-tax losses were £24 million in the 12 months to the end of January, compared with £61 million a year earlier.

Revenues were up from £338 million to £377 million.

The four new ships will join two existing river ships and be operated as part of the wider cruise business under chief executive, Nigel Blanks.

This will enable Saga to deliver its luxury boutique cruising experience across both oceans and rivers.

The four new ships will be called Spirit of the Moselle, Spirit of the Main, Spirit of the Elbe and Spirit of the Rhône, and will operate across each river, with the first due to come into service in May 2023.

The others will follow each year thereafter.

Nigel said: “We are so excited about the opportunity to expand our fleet of river ships to keep up with the ever-growing demand for luxury boutique river cruising.

“Today’s announcement of four new ships is the exciting next step in expanding our wider cruise offer.

“It builds on the success of Spirit of the Rhine and Spirit of the Danube which were launched this weekend and on our award-winning ocean cruise offer.

“These new ships will enable us to offer an even greater range of boutique experiences to guests looking to travel on the waterways throughout Europe.”