Preliminary financial results for 12 months of 2020
“Novaturas” Group ended 2020 with festive period flights to Tenerife. Flights were operated from all Baltic countries. Due to epidemiological situation, the Company does not plan to resume operations in the first month of 2021.
In December, the leading tour operator in the Baltic States “Novaturas” turnover reached EUR 0.45 million and was 95% lower than the same time last year. Cumulative January-December turnover reached EUR 32.9 million and was 82% lower than the corresponding time last year. In December, “Novaturas” Group served 681 clients – 94% less than in the corresponding period last year. During January-December the Company served 48.5 thousand tourists, 83% lower than last year.
"In the last months of 2020, we have been actively working with the state institutions to find best solutions on refunding the travelers for the trips canceled due to a pandemic as soon as possible. To date, in Lithuania we have requests for a refund for about EUR 1.8 million euros. And we are starting 2021 with positive news - after long discussions with “Invega” we have been able to reach a common solution that allowed us to agree on additional EUR 1 million 18 thousand loan to settle with travelers and we are currently handling all agreement formalities. While planning refunds, we maintain the same system – firstly refund money will reach those travelers whose trips were canceled the earliest. We will settle with our travelers until the first days of March. In December, we have also secured guarantee and insurance limit of EUR 11 million that ensures the fulfillment of Company’s obligations to travelers. This mandatory insurance for tour operators is one of the most important safeguards protecting travelers’ interests. People can confidently plan their next holidays, all their money for future trips are secured”, says Audronė Keinytė, Head of Novaturas Group.
About Novaturas Group
AB Novaturas Group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers.
CFO
Tomas Staškūnas
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