ENTER AIR SA (22/2017) Conclusion of the contract by Enter Air sp. O.o. from Rainbow Tours S.A.

The Management Board of Enter Air S.A. ("Company") informs that on September 1, 2017 between the subsidiary Enter Air S.A. - Enter Air sp. O.o. - and Rainbow Tours S.A. an Air Charter Agreement was concluded for the sale of seats in airplanes with the crew for the summer season 2018 and winter 2018/19, which contract is directly related to the basic activity of Enter Air sp. o.o. as an air carrier (hereinafter: "Contract"). The contract was concluded for a definite period until 30 April 2019 and regulates the principles of provision by Enter Air sp. o.o. air passenger and baggage services during the period concerned. The conclusion of the Agreement was classified as inside information due to the significant value of the contract and its relevance for the core business of Enter Air. The estimated value of the Agreement is approximately USD 45,300,000 (in words: forty-six million three hundred thousand US dollars), equivalent to PLN 165,258,590 at the average NBP exchange rate of 1 September 2017 (Table No. 169 / A / NBP / 2017) amounting to 3.5693. The company explains that the total value of benefits under the Agreement is not possible to determine in a strict manner, therefore the values ​​given above are estimates, and the final contract value may differ from the above estimates. On the value of benefits resulting from the Agreement the Agreement is affected by a number of variables, including the cancellation scheme for individual flights as provided for in the Agreement, as well as variable cost components. Ro the amounts due under the Agreement will be implemented on an ongoing basis and in accordance with the schedule of individual charter flights. The agreement provides for additional payments to Enter Air sp. o.o. in the case of cancellations of flights by Rainbow Tours S.A., the amount of which is dependent, inter alia, on the period of advance with which the flight was canceled. The contract does not contain non-standard provisions that would differ significantly from the terms used by Enter Air sp. o.o. in similar contracts concluded with tour operators.

Source: company website, investor relations, current and periodic reports.

Company information
Company name:Rainbow Tours SA
Adress: ul. Piotrkowska 270 90-361 Łódź
Phone:+48 42 6803820

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