Novaturas Group Secures Additional EUR 1 Million Loan
Tour operator Novaturas Group announces a decision by its Board of Directors to expand the loan agreement with its strategic investor from Turkey, Neset Kockar. The company has agreed with the investor to receive an additional EUR 1 million loan and to extend the maturity of the existing short-term EUR 1 million loan. This capital reinforcement will enable Novaturas to further strengthen its financial capacity necessary for achieving the operational goals.
Novaturas first announced the loan from the Turkish investor in March this year. At that time, the company disclosed that it had signed an agreement with Mr. Kockar for a short-term loan of up to EUR 1 million, to be repaid by 30 June 2025, with an annual interest rate of 8.5%. Following the amendments to the agreement, the loan maturity is extended to 30 June 2026. In addition, the company will receive a further EUR 1 million loan under the same conditions: an annual interest rate of 8.5% and a maturity date at the end of June 2026.
This new agreement reflects the growing cooperation between Novaturas and its strategic investor, as well as the benefits such partnership provides.
About the company
The Novaturas Group is a tour operator offering the widest range of travel destinations from the Baltic States. It has been operating in the region for 25 years. The company offers summer and winter recreational, sightseeing, exotic, skiing, workation and group trips to many destinations worldwide. According to unaudited data, in 2024, Novaturas Group recorded revenues of EUR 201 mln. and served 239 thsnd. passengers in Lithuania, Latvia and Estonia.
For more information:
Darius Undzėnas
CFO
