The largest tour operator of local capital in the Baltic States AB “Novaturas” in response to Russia’s aggression against Ukraine informs that the company has not suffered any significant disruptions to date and is operating smoothly.
Following the closure of the Ukrainian airspace for civilian aviation, flights routes have been corrected in compliance with European Aviation Safety Agency recommendations to bypass the Ukrainian airspace with the safe distance of 200 km. Due to the mentioned reasons, the duration of flights have slightly extended, but are not canceled, and summer holiday program does not change.
“We understand that in such situation the reliability and transparency of the company is especially important for our customers. Therefore, we would like to inform that we are operating as usual, nothing changes in our planned holiday program. We maintain close contact with our business partners throughout the whole value chain and constantly reacting to changing situation”, says Vitalij Rakovski, CEO of “Novaturas” group.
The head of the company reminds that the founders who are still minority shareholders of “Novaturas” are citizens of Lithuania. The group does not operate in Russia and Belarus. Funds received from the clients for the planned trips are secured by insurance contracts and guarantees of the European Union financial institutions. The company’s shares are listed on Vilnius and Warsaw stock exchanges. The company is also currently in contact with the embassies and consulates to help repatriate the Ukrainian citizens trapped abroad to the Baltic states.
The company of local capital “Novaturas” is the largest and one of the oldest tour operators in the Baltics. Since 2018, the company’s shares have been listed on Vilnius and Warsaw stock exchanges, the company’s financial statements, shareholders structure and other important information are publicly available.
The company is closely monitoring the situation and as long as it is so dynamic and uncertain does not provide forecasts on the impact on the company’s operations in the long run.
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