OREANDA-NEWS. On 16 May 2008 was announced, that RTM Group has officially notified Grossmart of repudiation of the lease agreements and demanded that Grossmart should leave the leased premises by May 5, 2008. The relevant notice was given by RTM Group and received by the tenant back in April 2008. RTM Group had to repudiate the contracts due to repeated failure to comply with the contractual obligations, including financial obligations, by the tenant. The notice concerns all RTM Groups premises leased by Grossmart.

RTM Group had been leasing 19 shops to Grossmart, which is about 10% of Grossmart networks shopping premises. The total area of RTM Groups premises leased by Grossmart is over 39,000 m2, including 3 shopping premises in Izmailovsky, Demidovsky and Na Svobodnom shopping and entertainment centers. The leased shopping premises are located in Moscow, Saint Petersburg, Voronezh, Kazan, Kursk, Stavropol, Tula and Krasnoyarsk.

In addition, Grossmart had previously signed preliminary agreements on lease of three RTM Groups premises: in Kursk (1,932 m2), in the shopping and entertainment center in Lipetsk (4,509 m2), and in Saint Petersburg (2,990 m2). The preliminary agreements on lease of these premises by Grossmart have already been cancelled on RTM Groups initiative.

 RTM strictly fulfills its obligations to its tenants and expects the same level of commitment from the tenants, commented Vadim Prikhodko, Deputy General Director of RTM Development. Persistent difficulties in the course of cooperation, including financial straits, compel us to part with such tenants".

RTM Group has reached preliminary agreements on lease of the said premises by the European Billa network and Russian Mosmart network.

As was pointed out [during the media conference], Frankfurt-Hahn, Germany is one of the most dynamically growing airports in Central Europe. The principal advantage the Airport has to offer is its proximity to the areas major economic and cultural [urban] centers.

The Cities of Cologne, Mainz, Trier, Saarbrucken, Koblenz, Darmstadt, Heidelberg, Metz, and Luxembourg are all within one to two hours driving time of Frankfurt-Hahn. Now the downtown Frankfurt-am-Main is but an hour and a halfs coach ride away with the the fare conveniently included in the price of the Vladivistok Avia roundtrip air tickets. The arrangement also applies as regards transfers to the most popular [final] destinations within the Airports catchment area.

Frankfurt-Hahn also happens to be a major transfer/transit hub. Europes leading low-cost carrier Ryanair alone operates scheduled services to 45 destinations to and from the Airport. The new Vladivostok Avia service thus opens up before its passengers a wealth of low-cost air travel options not only to Germany, but also onward and all over Europe.

An official delegation including representatives of the media traveled on the inaugural flight as part of the new routes presentation. The routes first passengers received a formal welcome on arrival in Germany, followed by a joint presentation of Vnukovo Intl. and Frankfurt -Hahn Airports.

Vladivostok Avia has been operating scheduled and charter services out of Vnukovo International since 2005 and is one of the Airports leading anchor-tenant carriers. The year 2007 saw the airline make a total of around 3 thousand flights using the Airport with 336.4 thousand passengers carried and the same indicator for the year 2006 improved by 38,8 percent. The carrier has preserved the rapid passenger growth trend so far this year. A total of 67,9 thousand passengers have travelled with Vladivostok Avia to and from Vnukovo International in the first three months of 2008, with the carrier posting a 47,1 percent improvement against the same period of last year.