Monarch collapse impacts Saga

Published on : Wednesday, December 6, 2017


sagaMonarch Airlines collapse in September has hit Saga plc’s tour operating business by £2 million.


However, Saga will see an increase in profitability in the travel business by next year.



The revelation was made in a trading update for the period from August 1 to December 5, 2017.


For the year ending January 31, 2018 the group’s growth in underlying profit before tax is expected to be between 1% and 2%.



This has been impacted by challenging trading in insurance broking during the period and the Monarch Airlines’ administration.


Saga mentioned that the travel segment will continue to trade well and will be strong in the year ahead. But the tour operation business has been hit by Monarch Airlines collapse with an approximate one-off cost of  £2 million.


Saga’s review of its operating structure revealed that approximately it will realize  £10 million of annualised savings next year.



Lance Batchelor, chief executive mentioned that though challenges in trading conditions continues  in our final quarter the business will develop for the long term. This is the right time for Saga to make investments, he was confident that there will be better quality of earnings and profit growth across the business and will benefit the shareholders.




Tags: , ,

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

arrow2Follow TTW
facebook-logo  twitter-logo  LinkedIn_logo  stumbleupon-logo   rss_logo 
ttw_blogger_logo  ttw_blogger_logo  ttw_blogger_logo


  • 02 WTM London 2018
  • 09 ttfotm 2018
  • 12 plannersxtraordinaire 2018
  • 13 aite 2018
  • 13 TTWarsaw 2018
  • 14 hmisummit 2018
  • 14 SATTE 2019
  • 16 EMITT 2019
  • 18 hospitalityqatar 18
  • 20 CITE_TTW 2018
  • 30 PATA


Get our toolbar!
Review on