Saga shares tumble after warning over Monarch collapse hit

Over 50s travel and insurance firm Saga saw shares plummet by as much as 25% after it warned the collapse of airline Monarch had hit earnings and said efforts to attract new customers will see next year’s profits fall.

Over 50s travel and insurance firm Saga saw shares plummet by as much as 25% after it warned the collapse of airline Monarch had hit earnings and said efforts to attract new customers will see next year’s profits fall.

The group said Monarch’s demise in October, which saw holidays cancelled for around 860,000 people, had knocked its tour operations business, leaving it with a £2m (€2.26m) one-off hit.