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UK's Saga says tour business hurt by Monarch Airlines collapse
December 6, 2017 / 7:32 AM / in 7 days

UK's Saga says tour business hurt by Monarch Airlines collapse

Dec 6 (Reuters) - Britain’s Saga Plc said it expected its full-year underlying pretax profit to grow by just 1-2 percent due to more challenging trading in insurance broking and the collapse of Monarch Airlines.

The provider of travel and insurance services for people of 50 and above said its tour business would see one-off cost of about 2 million pounds ($2.68 million) hurt by Monarch going into administration.

Saga also said it had completed a review of its operating structure and would see about 10 million pounds of annualised savings next year.

$1 = 0.7455 pounds Reporting by Noor Zainab Hussain in Bengaluru; editing by Jason Neely

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