What Novaturas Group does

Novaturas Group (AB Novaturas) is the largest organized tour operator in the Baltic States, founded in 1999 and headquartered in Kaunas, Lithuania. The company assembles and distributes fully organized package holidays — combining chartered flights, airport transfers, accommodation, professional tour guides, and excursions — sourced from Lithuania, Latvia, and Estonia to 30+ destinations across the Mediterranean, North Africa, the Middle East, and Asia. The core product set comprises flight package tours (the dominant revenue stream), long-haul round trips by chartered plane, European sightseeing tours by coach, and standalone airline ticket and hotel booking services. The company operates through three wholly-owned subsidiaries (SIA Novaturas in Latvia, OU Novatours in Estonia, and UAB Aviaturas ir Partneriai for aviation services) and distributes its products via 400+ external travel agencies, own sales offices in main Baltic cities, and country-specific e-commerce websites (novaturas.lt, novatours.lv, novatours.ee) launched in 2023.

The business model is transaction-based: revenue is generated from the sale of package holidays and travel components, with pricing varying by destination, season, accommodation type, and travel date. Advance booking campaigns (summer and winter) and participation in Baltic tourism fairs are the principal demand-generation mechanisms, with sustainability-labeled hotels and a MoreMins eSIM partnership serving as recent product differentiators. A small B2B channel resells charter flight seats and hotel inventory to other tour operators. The company is publicly listed on Nasdaq Vilnius and the Warsaw Stock Exchange (NVT1L / wse:NTU), is majority-owned by private equity firm BC Partners, and in March 2025 sold a 23.2% strategic stake to Turkish tourism investor Neset Kockar, whose planned increase to ~33% remains the subject of ongoing arbitration.

Name

Novaturas Group

Legal name

AB Novaturas

Website

https://novaturasgroup.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Novaturas Group is the largest tour operator in the Baltic States, selling package holidays, sightseeing tours, and flight/hotel bookings to 239,000 leisure travelers annually from Lithuania, Latvia, and Estonia across 30+ destinations.

Ownership category

akta.pro rank

Product category

Tour Operator Services

NAICS

Tour Operators (561520), Tour Operators (56152), Scenic and Sightseeing Transportation (487)

SIC

Services-Amusement & Recreation Services (7900), Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro primary industry

Private/Customized Multi-Day Tour Operators (THAKADAC)

akta.pro secondary industry

Luxury Multi-Day Tour Operators (THAKADAE)

Keywords

• Package holiday tours
• Charter flight tours
• Sightseeing travel packages
• Leisure travel services
• Airline ticket booking

Headquarters

HQ city

Kaunas

HQ country

Lithuania

HQ region

Europe

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Package Holiday Tours: Fully organized summer and winter package holidays including flights, transfers, accommodation, tour guide services, and attractions. Core revenue driver representing the majority of business.
2. Round Trips by Plane: Long-distance round trips including to Asia and North Africa with chartered and regular flights from Vilnius, Riga and Tallinn, including accommodation, sightseeing tours by coach and full-time tour guide.
3. Round Trips by Coach: Sightseeing tours by coach in European destinations including Poland, France, Italy, Austria, Croatia and Greece organized from Lithuania.
4. Airline Tickets and Hotel Bookings: Standalone airline tickets and hotel bookings sold online to retail clients and other tour operators, including booking seats on popular chartered flight routes.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

Novaturas Group is the largest tour operator in the Baltic States, selling fully organized package holidays (flights, transfers, accommodation, tour guides, excursions) to popular summer and winter destinations in Europe, North Africa, the Middle East, and Asia, as well as round trips by plane and coach, and standalone airline ticket and hotel booking services to individual consumers and other travel intermediaries.

Product overview

Novaturas Group operates as a unified tour operator platform offering fully organised package holidays and travel services. The core product portfolio consists of flight package tours (main offering), round trips by plane, and round trips by coach, complemented by airline ticket and hotel booking services. The company distributes through over 400 external travel agencies, its own sales offices in main Baltic cities, and e-commerce via country-specific websites (novaturas.lt for Lithuania, novatours.lv for Latvia, novatours.ee for Estonia). The integrated offering combines flights, transfers, accommodation, tour guides, and excursions into complete travel packages.

Differentiator

Problem solved

Functional benefit

Products and services

• Flight Package Tours Fully organized holiday trips to popular summer resorts in Europe (Mediterranean region), North Africa and Asia, and to European winter destinations in Italy, France, and Andorra. Each package includes flights, airport transfers, accommodation, around-the-clock resident tour guide, and full-day excursions; targeted at individual leisure travelers in the Baltic States.
• Round Trips by Plane Long-distance round trips including to Asia and North Africa using chartered and regular flights departing from Vilnius, Riga, and Tallinn. Packages include flights, accommodation, sightseeing tours by coach, and a full-time tour guide; targeted at leisure travelers in the Baltic States seeking exotic destinations.
• Round Trips by Coach European sightseeing tours by coach to destinations such as Poland, France, Italy, Austria, Croatia, and Greece. Packages include transport by coach, accommodation, and tour guide services; organized from Lithuania and targeted at Baltic leisure travelers.
• Airline Tickets and Hotel Bookings

Quantifiable outcome

• Revenue declined 16.1% to EUR 168.5 million in 2025 amid market pressure
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Audronė JoffėcoreOthers · 11 May 2025Appointed as Chief Financial Officer effective May 11, 2026, bringing over 15 years of international experience in finance and business management from previous positions at LW Group, JAKOBSENHOME, Light Conversion, Merck Sharp & Dohme, and Abbott Laboratories.
• SuperiaminorOthers · 24 January 2024Financial advisory firm contracted to conduct analysis of strategic alternatives for the company. Contract signed on 24 January 2024.
• Euroins ADminorStrategic or Co-development PartnerInternational insurance company part of Euroins Insurance Group AD - one of the largest independent insurance groups in Central, Eastern, and Southeastern Europe. Provides EUR 9 million surety insurance limit ensuring fulfillment of company's obligations to travelers.
• Heston AirlinesminorStrategic or Co-development PartnerAirline focused on charter and ACMI flights. From summer season, Heston became Novatours' main flight partner in Estonia as a strategic partnership to enhance travel experience and service quality.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Sunweb Group: European tour operator specializing in package holidays to Mediterranean and winter ski destinations via charter flights. Operates similar package-plus-charter model to Novaturas and competes for European outbound leisure travelers across multiple overlapping destinations.
• DER Touristik: German tour operator offering package holidays, round trips, and city breaks across Europe and long-haul. Similar multi-channel distribution and package-based product structure to Novaturas, though serving larger source markets.
• Tez Tour: International tour operator with strong presence in CIS and Eastern European markets, offering package holidays and charter flights. Overlaps with Novaturas on Mediterranean, North Africa, and Asian destinations and serves adjacent Eastern European source markets.
• Jet2 Holidays: UK-based package holiday operator combining scheduled and charter flights with accommodation. Comparable product offering (flight + hotel + transfers packages) and target customer (leisure families and couples), although focused on UK source market.
• Anex Tourism Group: Major international tour operator with significant presence in CIS, European, and emerging source markets. Highly relevant because Novaturas strategic shareholder Kockar is closely associated with Anex, and an Anex executive sits on Novaturas' Board.
• Coral Travel: Tour operator with significant footprint in Russia, CIS, and Eastern Europe, offering package holidays with charter flights. Comparable product structure and reliance on emerging-market outbound leisure travelers.

Regional players

• Invia Group: Leading online travel agency and tour operator in Central/Eastern Europe (Czech Republic, Slovakia, Hungary, Poland, Germany). Comparable tour distribution model with strong regional OTA presence and overlapping package holiday product.

Broad incumbents

• TUI Group: Europe's largest integrated tour operator and airline, offering package holidays, charter flights, and hotels across European source markets. Directly comparable business model to Novaturas but at vastly greater scale and broader geographic reach.
• FTI Group: German tour operator offering package holidays and tour services across Mediterranean and long-haul destinations (note: filed for insolvency in 2024). Comparable integrated tour operator model with charter and package products serving European source markets.

Others

• Etraveli Group: European online travel platform operator (flights and hotels) serving Nordic, Baltic-adjacent, and broader European markets. Relevant as a digital distribution competitor and potential channel partner in overlapping European source markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Novaturas Group