January 4, 2018 / 7:32 AM / a year ago

Saga restructures travel business after cutting profit forecasts

Jan 4 (Reuters) - Saga has restructured its travel business, after the tourism and insurance group for the over 50s said last month that the failure of Monarch Airlines had hit its tour operations.

Saga said on Thursday that Robin Shaw had been appointed CEO of Saga Travel, adding it would combine the tour operations and cruise roles. Shaw was previously CEO of Saga Cruises.

The company also said Jeannette Linfoot, managing director of its tour operations, had left the business and Gary Duggan would take over from Roger Ramsden as head of Saga Services, its retail broker.

In an unscheduled trading update last month, Saga said more challenging trading in insurance broking and the collapse of Monarch Airlines would limit profit growth in the year to the end of January 2018. (Reporting by Noor Zainab Hussain in Bengaluru; Editing by Susan Fenton)

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