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NOVATURAS (NTU): Regarding the legal proceedings against UAB “GetJet Airlines“ regarding the charter flights agreement

UNI - EN REPORT No

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46

/

2020

UNI - EN REPORT No46/2020

AB “Novaturas“ (the Company) announces that AB “Novaturas“ claim with UAB “GetJet Airlines“ (GetJet) regarding the execution of the charter flight agreement was accepted for consideration in the Vilnius Regional Court.

The Company has charter flight agreement with GetJet, on the basis of which the Company orders and GetJet operates charter flights to the destinations where the Company operates (Charter flight agreement). Due to the global pandemic caused by COVID-19 (SARS-COV-2) in 2020, the implementation of the charter agreement is affected by force majeure and therefore can not be performed in full.

The pandemic resulted in legal uncertainty between the Company and GetJet regarding the scope of contractual obligations under the Charter flight agreement. To resolve this uncertainty, the Company initiated a legal dispute requesting to state that the Charter flight agreement could not be performed in full due to force majeure circumstances. On 20 November 2020, the Company was informed that the Court on 19 November 2020 had accepted this claim. The Company also asks the court to resolve the legal uncertainty between the parties regarding the future performance of the Charter flight agreement and to amend the agreement so that its terms correspond to the substantially changed circumstances by reducing the volumes of planned flights. The settlement of this dispute will determine the impact of force majeure on the performance of the Charter flight agreement and will settle the obligations between the Company and GetJet. If it were stated that the Charter flight agreement could not be performed in full due to force majeure, the Company expects to be exempted from the potential payment calculated by GetJet for not meeting contractual obligations.

Finance director

Tomas Staškūnas

tomas.staskunas@novaturas.lt,

+370 687 10426

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