Concerning legal proceedings against UAB GetJet Airlines regarding a charter contract

AB Novaturas (hereinafter referred to as the Company) announces that on 7 June 2024 it filed a cassation appeal against the ruling of the Court of Appeal of Lithuania of 7 March 2024 and the judgment of Vilnius Regional Court of 11 September 2023 passed in relation to the case between the Company and UAB GetJet Airlines (hereinafter referred to as GetJet) concerning the circumstances related to the performance of the charter contract of 3 December 2018 (hereinafter referred to as the Contract).

Having evaluated the ruling of the Court of Appeal of Lithuania and the arguments relating thereto, the Company filed a cassation appeal with the Supreme Court of Lithuania requesting to alter the ruling of the Court of Appeal of Lithuania and the judgment of Vilnius Regional Court by annulling the parts of the ruling and the judgment 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.

It should be noted that the ruling of the Court of Appeal of Lithuania and the judgment of Vilnius Regional Court have become effective and the Company has already fulfilled all obligations imposed by the court. This hasn’t had a significant impact on the operations and financial results of Novaturas. In 2023, the Company accrued an amount for the fulfilment of the obligations imposed by the court and also secured full payment of the remaining part.

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. Based on audited data, in 2023 Novaturas Group recorded revenues of EUR 208,3 million and served 259 000 passengers in Lithuania, Latvia and Estonia.

CFO

Vaidrius Verikas
+370 646 43758