Flughafen Wien AG cancels leases with Sardana Group companies
Source: Vienna Airport
As a consequence of significant payment arrears, the failure to fully stock individual shops
and unfinished facilities in the new terminal Check-in 3, Flughafen Wien AG has cancelled
the leases with Artifacts, Saveria and Striberny in Check-in 3 after long and unfortunately
Flughafen Wien AG has filed various legal proceedings against the above-mentioned
companies to enforce its claims. Legal actions for eviction have also been started.
Since the current legal proceedings have not brought the expected payments, Flughafen
Wien AG has also filed an application with the provincial court in Korneuburg for the opening
of bankruptcy proceedings against the above-mentioned companies.
Two of the facilities in Check-in 3, which have not yet been transferred, will be re-let
immediately. A new tender for the remaining space will start as soon as the necessary court
decisions have been issued.
Flughafen Wien AG regrets this development, but the amount of the outstanding payments
and the length of the overdue periods as well as the failure to complete the shops will not
permit any further extensions. The loss in revenues resulting from these delays has already
been reflected in a provision, which was recorded by Flughafen Wien AG during the first
quarter of 2012. Therefore, the earnings guidance issued in May remains intact.