NOVATURAS: strona spółki
7.03.2024, 14:41
NTU Novaturas announces the outcome of the legal proceedings against UAB GetJet Airlines: no significant impact on operations
Novaturas informs about the ruling of the Court of Appeal of Lithuania of 7 March 2024 in the case of Novaturas v. GetJet Airlines regarding the circumstances related to the performance of the charter contract of 3 December 2018. The Court of Appeal of Lithuania upheld the judgment passed by Vilnius Regional Court on 11 September 2023.
It should be noted that in its judgment of 11 September 2023 Vilnius Regional Court partially upheld the claim of Novaturas and the counterclaim of GetJet Airlines. Although the court declared the termination of the contract by the company as of 28 December 2020 unlawful, it upheld the claim of Novaturas that the contract should be terminated by the court judgment as of 1 January 2021. The court also reduced the penalties claimed by GetJet Airlines to EUR 1.65 mln. As GetJet Airlines had already used EUR 500 thsnd. of the deposit paid by Novaturas to cover the penalties, the company was ordered to pay EUR 1.15 mln. in penalties, in addition to interest at the rate of 8% per annum calculated from 1 January 2021. The judgment will not have 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 has also secured full payment of the remaining part. The ruling of the Court of Appeal of Lithuania and the judgment of Vilnius Regional Court have entered into force as of 7 March 2024 and shall be enforceable. Both parties shall have the right to file cassation appeals against the ruling of the Court of Appeal of Lithuania with the Supreme Court of Lithuania within three months. Filing of a cassation appeal per se will not suspend the validity of the ruling of the Court of Appeal of Lithuania and the judgment of Vilnius Regional Court. Novaturas will analyse this judgment and the arguments related to it and then decide on possible further actions. 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 2023, Novaturas Group recorded revenues of EUR 209 million and served 259 000 passengers in Lithuania, Latvia and Estonia.
It should be noted that in its judgment of 11 September 2023 Vilnius Regional Court partially upheld the claim of Novaturas and the counterclaim of GetJet Airlines. Although the court declared the termination of the contract by the company as of 28 December 2020 unlawful, it upheld the claim of Novaturas that the contract should be terminated by the court judgment as of 1 January 2021. The court also reduced the penalties claimed by GetJet Airlines to EUR 1.65 mln. As GetJet Airlines had already used EUR 500 thsnd. of the deposit paid by Novaturas to cover the penalties, the company was ordered to pay EUR 1.15 mln. in penalties, in addition to interest at the rate of 8% per annum calculated from 1 January 2021. The judgment will not have 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 has also secured full payment of the remaining part. The ruling of the Court of Appeal of Lithuania and the judgment of Vilnius Regional Court have entered into force as of 7 March 2024 and shall be enforceable. Both parties shall have the right to file cassation appeals against the ruling of the Court of Appeal of Lithuania with the Supreme Court of Lithuania within three months. Filing of a cassation appeal per se will not suspend the validity of the ruling of the Court of Appeal of Lithuania and the judgment of Vilnius Regional Court. Novaturas will analyse this judgment and the arguments related to it and then decide on possible further actions. 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 2023, Novaturas Group recorded revenues of EUR 209 million and served 259 000 passengers in Lithuania, Latvia and Estonia.