Concerns have been raised regarding the financial stability of a major travel agency, prompting questions about the security of booked trips for passengers. Despite these concerns, the State Consumer Protection Agency (VATAT) informed the news portal Lrytas that, according to the latest data received, the guarantee fund held by Novaturo is sufficient and fully covers the current obligations owed to travelers. In separate financial reporting, the audited data for the Baltic travel agency, Novaturo group, indicated a notable decline in revenue.
The company reported €168.5 million in revenue for 2025, marking a 16.1% decrease compared to the €200.9 million earned in the preceding year. Beyond the specifics of the travel industry, an economist pointed out several areas of concern within the government’s broader program funding, noting that expenditures appear to be financed through debt. The juxtaposition of declining corporate revenue and necessary state guarantees underscores the current scrutiny facing the sector.
While regulatory bodies like VATAT have provided assurances regarding the immediate coverage of traveler obligations, the financial performance indicators suggest underlying economic pressures. The reported revenue contraction for Novaturo highlights the volatility within the travel market, making consumer protection and financial transparency paramount for all involved parties.
Topics: #travel #novaturo #passengers
