"The fact that we are resuming operation to Egypt and Tenerife by planning consistent flight programs until April, instead of only several flights, is another positive signal showing the first signs of recovery of the tourism market in all Baltic countries," Novaturas Group CEO Audrone Keinyte said in a statement on Tuesday.

Flights to Tenerife are planned to resume on February 5 from Lithuania, and a couple of weeks later from Estonia. Flights from Latvia to the island should be relaunched from mid-March.

"If the epidemiological situation and conditions are favorable, in the middle of spring, we are planning to offer travelers holiday packages to Greece, Bulgaria and other popular holiday destinations," Keinyte said.

The group can now offer holiday packages in Egypt only to travelers from Estonia whose government lifted its ban on travel to the north African country and to Turkey at the start of the year, according to the statement.

Novaturas saw its annual revenue plunge by 82 percent in 2020 from 2019 to 32.9 million euros as traveler numbers slumped down by 83 percent to 48,500 amid the coronavirus pandemic.

The company is listed on Nasdaq Vilnius and the Warsaw Stock Exchange.