NOVATURAS (NTU): NOVATURAS AB (157/2023) Concerning legal proceedings against UAB GetJet Airlines regarding a charter contract - raport 157/2023

Podstawa prawna: art. 17. 1 MAR.

AB Novaturas (hereinafter referred to as the Company) announces that on 11 October 2023 it filed an appeal against the judgment passed by Vilnius Regional Court on 11 September 2023 in the case between the Company and UAB GetJet Airlines (hereinafter referred to as GetJet) concerning the circumstances related to performance of the charter contract of 3 December 2018 (hereinafter referred to as the Contract).

Having evaluated the judgment and the arguments relating thereto, the Company files an appeal to a higher court requesting to alter the judgment by annulling the parts of the judgment of the court of first instance which partially upheld the claims of GetJet and the parts which rejected the claims of Novaturas. The Company also seeks a new judgment in respect of the annulled parts of the judgment: to reject the claims of GetJet, exempting Novaturas from non-performance of the Contract in 2020 on the grounds of force majeure or circumstances which have substantially restricted performance of the Contract.

The judgment of the court of first instance is not final and is not conclusive in this case. Following an appeal, a higher court will examine the legality and validity of this judgment.

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

+370 687 21603