Novaturas Group, the leader in the Baltic tourism market, generated revenues of EUR 19.4 mln. in July, compared to EUR 20.7 mln. during the same period last year. The number of customers served was 25.7 thsnd., compared to 29.5 thsnd. in July last year.
In total, between January and July 2024, the company recorded revenues of EUR 110.4 mln. and 138.4 thsnd. customers, compared to revenues of EUR 120.7 mln. and 154 thsnd. customers in the corresponding period in 2023.
"We relate the decrease in the number of customers to an optimised travel programme tailored to the needs of travellers. We have made more significant changes to the programme by reducing the volume of certain scheduled flights in Estonia, which is experiencing lower demand due to weaker macroeconomic sentiment. Looking at all Baltic markets, we recorded growth in Latvia in July, with sales even outperforming last year's results.
Group-wide, we have sold around 75% of this year's programme in July, just like last year. This is a favourable indicator considering the current market situation and the competitive environment, with a really wide travel offering. It also indicates that travellers trust us, since they are booking next winter early booking trips in advance. Optimal management of the travel programme also allows us to ensure a stable load factor," says Kristijonas Kaikaris, CEO of Novaturas.
airBaltic to operate flights to Dubai
Following the public news that the airline company FlyDubai, which has not yet started its operations in the Baltic States, will no longer operate flights between Vilnius and Dubai this year, Novaturas assures that its customers will not be affected in any way. As previously planned, flights to the United Arab Emirates will be operated by airBaltic, which has one of the youngest fleets in Europe. When launching the next winter programme for travellers at the beginning of summer, Novaturas announced that it is increasing its offering to the United Arab Emirates from Lithuania and Latvia.
According to publicly available data, this decision by FlyDubai may have a negative impact on other tour operators who had been planning flights with this airline company due to the need to change flight plans.
News for customers - another exotic destination and combined tours
This summer, Novaturas has noticed a greater interest in exotic trips for the next winter season than last year (+23%). Among 13 long-haul destinations offered by the company, Vietnam, Thailand, Bali and the Seychelles showed the strongest growth in June and July.
Novaturas also introduced a new exotic winter destination in Africa - The Gambia. As announced previously, the company included The Gambia in its long-haul range, observing the trend that customers prefer exotic and less travelled destinations for their winter holidays. This African country is still undiscovered by many Baltic travellers, although it is already popular with holidaymakers from the UK, the Netherlands, Sweden and other European countries. The Gambia has been included in the wide range of long-haul winter destinations of the tour operator, together with Dominican Republic, Thailand (Bangkok and Phuket), Vietnam, Tanzania (Zanzibar), Indonesia (Bali), Mexico, Cuba, Mauritius, Sri Lanka, the Maldives, and the Seychelles.
Novaturas is currently the only major tour operator in the Baltic States to offer scheduled flights and package tour early booking services to The Gambia. Trips will be operated by Turkish Airlines from Lithuania, Latvia and Estonia.
In addition, since the beginning of August, Novaturas has also introduced the so-called combined tours, where travellers spend part of their holidays in one resort or city and the rest in another specific resort or city. Customers can buy such tours to Indonesia (Bali), Thailand (Bangkok), Vietnam, Cuba and the United Arab Emirates, with combinations of several resorts of interest. The company also offers a new combined tour where travellers visit two countries - the United Arab Emirates (Dubai) and Oman.
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.???
Aukse Kriauciunaite
Interim CFO
+370 630 37367
