- About us
- For media
- For investors
- For Customers
The leading tour operator in the Baltic States "Novaturas" on the 2nd of April 2021, has signed EUR 10 million investment agreement with the State Investment Management Agency.
The Company has announced about the reached agreement with the State Aid Fund for Business managed by the State Investment Management Agency through stock exchanges on the 17th of February 2021. The investment worth EUR 10 million will reach “Novaturas” group using mixed financial instruments.
The financing is granted for 6 years period, after which the Company undertakes to redeem the bonds. The Company also has the possibility to redeem all or part of issued bonds before the term of the agreement.
"Tourism sector has been heavily affected by the consequences of the pandemic, so every injection into the tourism sector is significant. We believe that when the situation stabilizes, people will travel, and the Company will not only return the investment but will continue to operate successfully. I hope that this agreement will become an impetus for other companies in the tourism sector to apply to VIVA more boldly and actively and at the same time look for effective financing solutions”, says Dainius Vilčinskas, CEO of the State Investment Management Agency.
„Throughout the past year we have put a lot of effort and time into searching and evaluating all the opportunities to ensure business continuity. The financial partners appreciated our efforts and provided support in entrusting “Novaturas” potential. Before signing the deal with the State Investment Management Agency, their specialists impartially assessed our business model, its sustainability, and the potential of the sector. It will, of course, take some time before we can return to pre-pandemic levels, so we are taking all measures to secure a larger financial reserve. Safe travelers’ holidays are also our responsibility. We take care of all our travelers, both by providing them all the necessary information when planning holidays, as well as taking care of fair compensation if the dynamics of a pandemic require adjustment of the holidays planned by travelers. The interests of people traveling with “Novaturas” are also protected by the 11 million euros worth guarantee and insurance limit we have secured last year, which means that all travelers' money for future travel is safe”, says Audronė Keinytė, head of “Novaturas” Group.