Preliminary December results of Novaturas: new airline partners in Estonia, focus on sustainability

Novaturas Group, the leader in the Baltic tourism market, estimates that the total revenue of the company for the period of January to December, 2023 reached EUR 208 mln., which is a 6% increase compared to the same period in 2022. The number of customers served was approx. 259 thsnd., compared to around 267 thsnd. in the same period last year. 

The revenues in December accounted for EUR 8.2 mln. due to the optimisation of the offering of the Egypt destination, managing the risks of demand volatility related to the events in Israel and adjusting the number of flights accordingly. At this time last year, the revenues reached EUR 9.5 mln. Novaturas served around 8 thsnd. customers, compared to around 9.3 thsnd. last year.

Kristijonas Kaikaris joins the team

In December, Novaturas Group announced a new CEO. Kristijonas Kaikaris, who has many years of experience in leading international IT, aviation and transport companies, has taken up the position of CEO.

For the past three years, Mr Kaikaris has been the CEO of CityBee, a car-sharing service company. Prior to that, he was the CEO of charter airline company Small Planet Airlines for almost three years. Mr Kaikaris has worked in the IT sector for a large part of his career: for four years he headed the Lithuanian offices of international technology companies Microsoft and Oracle, as well as served as the President and Board Member of the Infobalt association, and worked in the sales department of IBM.

Announcing long-term partnership with Heston Airlines in Estonia 

Moreover, in December, Novaturas Group announced the signing of a long-term cooperation agreement with Heston Airlines. It will become the main flight partner of Novatours in Estonia from the coming summer season. This strategic partnership aims to provide customers with even more comfortable conditions and a smooth travel experience.

Punctuality, quality service, safety, sustainability, flexibility, modern flight solutions and other customer benefits are the priorities for both companies. The representatives of Heston Airlines shared that their long-term partnership with Novatours aims to guarantee the best experience for travellers. The company operates a modern Airbus A320 aircraft that is only seven years old, which also ensures better fuel efficiency.

Offering sustainable choice hotels

Novaturas is the first of the major tour operators in the Baltic States to introduce an innovation. When planning their trips, customers can choose hotels not only by location, room type or other amenities, but also by sustainability labelling. The renewed website of the company marks such hotels with the “Sustainable choice” label, which indicates that the accommodation operates responsibly and focuses on the management of social and environmental impacts.

Novaturas has relied on a third-country certification and labelling system to select such hotels. This means that “Sustainable choice” hotels have a sustainability label recognised by the Global Sustainable Tourism Council (GSTC). Such hotels already account for more than a third of the company’s total offering in Lithuania, Latvia and Estonia, and the range is planned to expand further. In the 2023–2024 winter and 2024 summer seasons, the company offers a range of more than 950 sustainable accommodation options.

About the company  

Novaturas Group is the largest and the only charter flights‘ local tour operator in the Baltic States, offering summer and winter trips to more than 30 destinations worldwide and more than 100 tours. In 2022, Novaturas Group recorded revenues of EUR 197 million and served 267 000 passengers in Lithuania, Latvia and Estonia.   

Vygantas Reifonas  

CFO of AB Novaturas