Concerning legal proceedings against UAB GetJet Airlines concerning a charter contract

Novaturas AB (the Company) hereby informs about the judgement of Vilnius Regional Court of 11 September 2023 in the case between the Company and GetJet Airlines UAB (GetJet) concerning the circumstances related to the performance of the charter contract of 3 December 2018 (the Contract).

The Court of First Instance partially upheld the Company’s claim and GetJet’s counterclaim by declaring the Company’s termination of the Contract as of 28 December 2020 unlawful, while granting the Company’s claim that in such a case, the Contract  should be terminated by a court decision as of 1 January 2021.

In addition, the Court reduced GetJet’s claim for liquidated damages to EUR 1.65 mln. As GetJet had already used EUR 500 thsnd. of the Company’s deposit to cover the liquidated damages, the Company was ordered to pay EUR 1.15 mln in liquidated damages, together with interest at the rate of 8% per annum calculated from 1 January 2021.

The Company was ordered to pay EUR 3.8 thsnd. for services rendered, together with interest at the rate of 8% per annum from 15 November 2020.

All other claims of the parties were dismissed.

The preliminary assessment is that the judgment will not have a significant impact on the company’s operations. Moreover, the judgment of the Court of First Instance is not final, nor is it conclusive, and may be appealed against to the Court of Appeal within 30 days. The Company will analyse this judgment and the arguments related to it and decide on possible further action.

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