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NOVATURAS AB: AB “Novaturas” is finishing refunds for the trips that have been cancelled due to the pandemic (2021-03-02 08:50)
POLISH FINANCIAL SUPERVISION AUTHORITY

UNI - EN REPORT No14/2021
Date of issue:2021-03-02
Short name of the issuer
NOVATURAS AB
Subject
AB “Novaturas” is finishing refunds for the trips that have been cancelled due to the pandemic
Official market - legal basis
art. 17. 1 MAR.
Unofficial market - legal basis
Contents of the report:
The leading tour operator in the Baltic states AB “Novaturas” is finishing refund process which group-wide amounts to 9.3 million euros. In the first days of March the refunds will reach the last travelers. Refund money have been transferred firstly to those travelers whose trips have been canceled the earliest.

In January 2021, reached agreement with the Ministry of Economy and Innovation of the Republic of Lithuania and business guarantee fund “Invega” on additional 1 million 18 thousand euros loan allowed the Company to accelerate the refund process. 4 million euros, which account for 98% of the total amount to be reimbursed in Lithuanian market were refunded to Lithuanian travelers. In Latvia and Estonia, the settlements have been completed, amounting to 1.4 million and 3.9 million euros, respectively.

"We have started making first refunds in July 2019. Have to admit that the refund process did not go as smoothly as we had hoped, but we are pleased to have found compromises with the institutions that provided us with incentive measures and that we have settled with our travelers. So far, due to inaccurate information provided in refund requests or reservation forms, 160 reservations have not yet been refunded. We are solving these inaccuracies with the travelers who have submitted those request forms and the money will be refunded as soon as possible”, 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
tomas.staskunas@novaturas.lt,
+370 687 10426
Annexes
FileDescription












































NOVATURAS AB



(fullname of the issuer)



NOVATURAS AB
Usługi inne (uin)



(short name of the issuer)
(sector according to clasification
of the WSE in Warsow)




LT-44245
Kowno



(post code)
(city)



A.Mickeviciaus
27



(street)
(number)



+370 37 321 264
+370 37 321 130



(phone number)

(fax)










(e-mail)

(web site)










(NIP)

(REGON)





































SIGNATURE OF PERSONS REPRESENTING THE COMPANY


DateNamePosition / FunctionSignature

2021-03-02Tomas StaskunasCFO








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