Novaturas Group’s 9M 2019 financial results were affected by fierce competition coupled with softer demand for outbound trips due to hot summer weather in the Baltics. This precipitated oversupply on the marketplace, thereby affecting the profitability of tour operators. In turn, Novaturas expects to generate robust results in the 2019/2020 winter season. Early bookings for next year’s summer season also look promising.
Estonian Chamber of Commerce and Industry, promoting strong and business friendly environment in the country, yearly awards the most competitive and accomplished companies in different industries. Tour operator “Novatours” Estonia was named as the most competitive company in tourism industry.
The news of the collapse of British tour operator “Thomas Cook“ has brought some chaos and uncertainty among the travelers community and tourism companies. To reassure our clients, partners and investors we want to highlight that “Thomas Cook“ is not AB “Novaturas“ partner.