AB Novaturas (hereinafter referred to as the 'Company') informs about the ruling of the Supreme Court of Lithuania of 28 November 2024 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').

By its ruling of 28 November 2024, the Supreme Court of Lithuania decided to annul the part of the ruling of the Court of Appeal of Lithuania of 7 March 2024, which upheld the part of the judgment of Vilnius Regional Court of 11 September 2023 (which decided to terminate the Contract by the court judgment as of 1 January 2021), and referred the case back to the court of appeal for examination of that part. By its ruling of 28 November 2024, the Supreme Court of Lithuania also decided to annul the part of the ruling of the Court of Appeal of Lithuania of 7 March 2024, which upheld the part of the judgment of Vilnius Regional Court of 11 September 2023 (which decided to order the Company to pay GetJet EUR 1 150 000 in penalties, in addition to interest at the rate of 8% per annum on the awarded amount of EUR 1 150 000 from 1 January 2021), and referred the case back to the court of appeal for examination of that part. The part of the ruling of the Court of Appeal of Lithuania of 7 March 2024, which upheld the part of the judgment of Vilnius Regional Court of 11 September 2023 (which decided to order the Company to pay the costs of the proceedings in the amount of EUR 46 075.40 to GetJet), was also annulled and that part of the case was referred back to the Court of Appeal of Lithuania for re-examination. 

The Court of appeal will have to resolve the dispute between the Company and GetJet concerning the performance of the Contract during the COVID-19 pandemic and the legality and consequences of the termination of the Contract anew.

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. 

Darius Undzėnas

CFO

+370 678 05749

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