FrancophonIA/DGT-Translation_Memory huggingface dataset:
English: With regard to aircraft leases, Greece stressed that the only aircraft transferred to Olympic Airlines were those fully owned by Olympic Airways. Aircraft leased by Olympic Airways were subleased to Olympic Airlines at market rates, because if the leases had been terminated early Olympic Airways would have had to compensate the lessors for their losses.
Italian: Riguardo ai canoni di locazione degli aeromobili, la Grecia ha informato che solo gli aeromobili di piena proprietà dell'Olympic Airways erano stati trasferiti all'Olympic Airlines, mentre quelli noleggiati dall'Olympic Airways erano stati ceduti in sublocazione alla NOA a prezzi di mercato, poiché la risoluzione dei contratti prima della scadenza dei relativi termini avrebbe comportato per l'Olympic Airways l'obbligo di sopperire alle perdite subite dai locatori.
English: The leases of four Airbus A340-300 aircraft partially covered by State guarantees (up to 45 % of the financing value) would not be assigned to the new company. Olympic Airlines would operate these aircraft on a sublease basis, paying market rates to Olympic Airways.
Italian: Riguardo alla locazione di quattro Airbus A340/300 parzialmente coperti da garanzie statali (fino al 45 % del valore del finanziamento), questi contratti non sarebbero stati attribuiti alla nuova società: la NOA avrebbe utilizzato questi aerei in base a un contratto di sublocazione a prezzi di mercato firmato con l'Olympic Airways.
Maltese: Rigward il-kiri ta' erba’ ajruplani Airbus A340/300 parzjalment koperti b’garanziji mill-Istat (sa 45 % tal-valur tal-finanzjament), dawn il-kirjiet mhumiex sejrin jiġu assenjati lill-kumpanija l-ġdida.Olympic Airlines kienet sejra topera dawn l-ajruplani fuq bażi ta' sollokazzjoni billi tħallas rati kummerċjali lil Olympic Airways.
English: Regarding the alleged new aid to Olympic Airways, the Greek authorities expressed some confusion as to what was meant by ‘tax obligations’. The Greek authorities said that the Commission had failed to show that the Greek authorities had ‘assisted’ Olympic Airways by tolerating the non-payment of certain obligations (not only tax obligations).
Italian: Riguardo al presunto nuovo aiuto all'Olympic Airways, le autorità greche hanno rilevato una certa incongruenza su cosa s'intendesse per «obblighi fiscali», sostenendo che la Commissione non era riuscita a dimostrare che le autorità greche avessero «aiutato» l'Olympic Airways tollerando il non pagamento di certi oneri (non solo obblighi fiscali) e che, nel formulare tale accusa, la Commissione aveva l'onere della prova, che non aveva presentato.
English: They argued that it was for the Commission to discharge the burden of proving such an allegation, which it had failed to do. The Greek authorities reiterated that Olympic Airways was subject to the generally applicable Greek law and procedures applicable to all Greek companies in this regard.
Italian: La Grecia ha ribadito che l'Olympic Airways è soggetta alle norme di legge e procedure greche previste in generale per tutte le società greche sotto l'aspetto in questione.
English: Although the two mechanisms were intended to operate back-to-back, one financing the other, the obligation on the Greek State to pay the airports was not dependant on its ability to collect the sums due from the air carriers. As a result there had been situations where the State had been obliged to grant sums that had not yet been collected.
Italian: Anche se i due dispositivi sono strutturati per funzionare in sequenza (uno finanzia l'altro), le autorità greche hanno dichiarato che l'obbligo dello Stato greco di versare contributi agli aeroporti non dipende dalla sua capacità di riscuotere gli importi dovuti dai vettori aerei: di conseguenza, in certe situazioni lo Stato è costretto a erogare importi che non ha ancora riscossi.
English: The Greek authorities further explained that the shares in Olympic Airlines no longer belonged to the Olympic Airways group but to the State. As Olympic Airways had been deprived of the value of its flight division, however, provision for an advance to Olympic Airways which did not exceed the value of its ‘lost’ property was a proportionate and adequate measure for the purposes of restructuring and privatisation.
Italian: La Grecia ha spiegato inoltre che le azioni della NOA non appartenevano più all'OAG ma allo Stato, aggiungendo tuttavia che, poiché l'Olympic Airways era stata privata del valore corrispondente alla sua divisione di volo, l'erogazione all'Olympic Airways di un anticipo d'importo non superiore a quello delle proprietà «perdute» era una misura proporzionata e adeguata ai fini della ristrutturazione e della privatizzazione.
English: Any sums from the proceeds of the sale which exceeded the nominal value of the share capital of the companies sold would remain with the State, and could not be used by Olympic Airways. Olympic Airways would have access to the account only in order to meet its severance and retirement obligations and to cover the financial obligations of Olympic Airways and Olympic Aviation during the course of the restructuring and liquidation process.
Italian: L'eventuale importo del ricavato della vendita in eccedenza rispetto al valore nominale del capitale azionario delle società vendute sarebbe rimasto rimane allo Stato e l'Olympic Airways non avrebbe potuto utilizzarlo: avrebbe avuto accesso al conto soltanto per adempiere ai suoi obblighi nei casi di licenziamento e di pensionamento e per coprire i propri obblighi finanziari e quelli dell'OAv nel corso del processo di trasformazione e liquidazione.
English: The Greek authorities disagreed with the conclusion that in prohibiting any creditors of Olympic Airways from bringing actions against Olympic Airlines the Greek State was seeking to protect Olympic Airlines from the enforcement of the 2002 Decision. They contended that this was not the intention, which was rather to maximise recovery of investment.
Italian: Le autorità greche non condividevano la conclusione secondo la quale lo Stato greco voleva proteggere la NOA dall'esecuzione della decisione del dicembre 2002 vietando a tutti i creditori dell'Olympic Airways di ricorrere contro la nuova società: esse sostenevano che la loro intenzione era invece di massimizzare il recupero degli investimenti.
Polish: Władze greckie nie zgodziły się z wnioskiem, że państwo greckie, zabraniając wierzycielom Olympic Airways występować z roszczeniami przeciwko Olympic Airlines, chciało ochronić Olympic Airlines przed wykonaniem decyzji z 2002 r. Władze utrzymywały, że ich zamiarem było raczej maksymalne zwiększenie zwrotu z inwestycji.
English: With respect to the proposed long implementation period for the overall restructuring and privatisation, Greece said that it noted the Commission’s concerns, and would try to accelerate the process where practicable. Greece intended to provide the Commission with a new timetable for the implementation of the restructuring and privatisation plan and the subsequent liquidation of Olympic Airways.
Italian: Riguardo al lungo periodo di attuazione proposto per completare la ristrutturazione e la privatizzazione, la Grecia indicava che, avendo preso atto dei timori della Commissione, avrebbe cercato di accelerare il processo ove possibile e avrebbe presentato alla Commissione un nuovo calendario per l'attuazione del piano di ristrutturazione/privatizzazione e per la successiva liquidazione dell'Olympic Airways.
English: The first set of comments was submitted by a Greek air carrier, Aegean Airlines (‘Aegean’). Aegean made the following observations.
Italian: La prima serie di osservazioni l'ha inviata un vettore aereo greco, l'Aegean Airlines («Aegean»), che presentava le considerazioni esposte qui di seguito.
Portuguese: Os primeiros comentários foram apresentados pela transportadora aérea grega Aegean Airlines (a seguir denominada «Aegean»), que formulou as seguintes observações.
English: Comments were also received from the Irish low-cost airline Ryanair. Ryanair made a number of general observations regarding the application of Community State aid rules in Member States other than Greece and in relation to airlines other than Olympic.
Italian: Sono state ricevute osservazioni anche dalla compagnia aerea irlandese «low cost» Ryanair, che ha formulato una serie di osservazioni generali in merito all'applicazione delle norme CE in materia di aiuti di Stato negli Stati membri diversi dalla Grecia e in relazione a compagnie aeree diversa dall'Olympic Airways.
English: The temporary protection from creditors that it provided did not apply against the Greek State or other public bodies, and applied only to Olympic Airways and Olympic Aviation. The measure did not constitute State aid, as it involved no transfer of State resources.
Italian: Questa tutela temporanea dai creditori non si applica nei confronti dello Stato greco o di altri organismi pubblici/statali; si applicava solo all'Olympic Airways e all'OAv.
Slovak: Táto dočasná ochrana pred veriteľmi sa nevzťahovala na grécky štát ani na ostatné verejné orgány a vzťahovala sa len na spoločnosti Olympic Airways a Olympic Aviation.
English: They indicated that a figure of EUR 30 million for goodwill had been recognised on Olympic Airways’ balance sheet prior to the restructuring. This figure was a valuation, by management, of the Olympic brand name, the Olympic logo, the Olympic Airlines trademark, and slots and bilateral agreements.
Italian: Essi hanno indicato che, prima della ristrutturazione, nel bilancio dell'Olympic Airways era presente una voce «avviamento» per l'importo di 30 milioni di EUR, risultante dalla valutazione, effettuata dai dirigenti della società, del marchio Olympic, del suo logo, del marchio NOA, delle bande orarie e degli accordi bilaterali.
English: The experts also carried out a comparison between the head-lease rates and the sublease rates in respect of these four aircraft. They found that the head-lease charges paid by the State amounted to approximately EUR 750000 per month, whereas the sublease charges ranged from approximately EUR 400000 to EUR 500000 per month.
Italian: Gli esperti hanno raffrontato anche i canoni dei contratti principali con quelli dei contratti di sublocazione per i quattro aerei menzionati, rilevando che i canoni corrisposti dallo Stato per i contratti principali ammontavano approssimativamente a 750 mila EUR al mese mentre gli oneri per i contratti di sublocazione erano compresi tra 400e 500 mila EUR circa al mese.
English: At the end of 2003 Olympic Airways owed the Greek State a total of EUR 522 million in unpaid tax and social security liabilities. Given its financial position, the Commission has to take the view that Olympic Airways would manifestly have been unable to obtain a comparable cash advance from a private investor in the same situation. This is so particularly as the ‘investor’ in the present case was also Olympic Airways’ largest creditor, and stood little realistic chance of recovering the sums that Olympic Airways already owed it.
Italian: Alla fine del 2003 l'Olympic Airways aveva nei confronti dello Stato greco debiti fiscali e previdenziali per il totale di 522 milioni di EUR. Data la sua situazione finanziaria, la Commissione deve concludere che palesemente l'Olympic Airways sarebbe stata incapace, nella medesima situazione, di ottenere un analogo anticipo di cassa da un investitore privato, a maggior ragione se l'«investitore», come nel caso in esame, è anche il maggiore creditore dell'Olympic Airways e se realisticamente sono scarse le probabilità di recuperare gli importi che l'Olympic Airways già gli deve.
English: In the study they carried out for the Commission, the experts convincingly demonstrated that the assets transferred to Olympic Airlines had been overvalued. Accordingly, on the instructions of the Commission, the experts carried out their own valuation of the assets transferred, using accountancy techniques and standards which are accepted both in Greece and internationally.
Italian: Nello studio condotto per conto della Commissione, gli esperti della Commissione hanno dimostrato che le attività trasferite alla NOA sono state sopravvalutate.
English: The Commission concludes that by overvaluing the assets transferred to Olympic Airlines Greece has granted illegal and incompatible State aid to Olympic Airways to the amount of the overvaluation. It also finds that the grants totalling almost EUR 57 million to Olympic Airways and the Greek State’s tolerance of late payment and non-payment of Olympic Airways’ tax and social security liabilities constitute illegal and incompatible State aid.
Italian: Di conseguenza la Commissione conclude che con la sopravvalutazione delle attività trasferite alla NOA la Grecia ha concesso aiuti di Stato illegali e incompatibili per l'importo di tale sopravvalutazione e rileva che le erogazioni dell'importo complessivo di quasi 57 milioni di EUR all'Olympic Airways e la tolleranza da parte dello Stato greco del ritardato o mancato pagamento dei debiti fiscali e previdenziali da parte dell'Olympic Airways corrispondono ad aiuti di Stato illegali e incompatibili.
English: The advance paid into the account was a measure of a temporary nature that any prudent market investor would have taken. The advance had been used primarily for salaries in both Olympic Airways and Olympic Aviation, aircraft leasing costs, and early retirement of Olympic Airways and Olympic Aviation staff.
Lithuanian: Išankstinis mokėjimas visų pirma naudotas darbo užmokesčiui Olympic Airways ir Olympic Aviation mokėti, orlaivių išperkamosios nuomos išlaidoms padengti ir su ankstyvu Olympic Airways ir Olympic Aviation darbuotojų išėjimu į pensiją susijusioms išmokoms padengti.
English: The experts found that Olympic Airlines had experienced a difficult trading year in 2004, resulting in an operating loss of EUR 94,5 million on turnover of EUR 616,7 million, and a net loss for the year, before tax, of EUR 87,1 million. Even in terms of gross operating profit (turnover less direct costs of services) the company had achieved a profit of just EUR 4 million.
Dutch: De deskundigen stelden vast dat NOA in 2004 in grote moeilijkheden verkeerde, wat leidde tot een exploitatieverlies van 94,5 miljoen EUR op een omzet van 616,7 miljoen EUR en een nettoverlies vóór belastingen van 87,1 miljoen EUR. Zelfs op het niveau van de bruto exploitatiewinst (omzet minus rechtstreekse kosten van diensten) maakte de maatschappij slechts 4 miljoen EUR winst.
Lithuanian: Ekspertai nustatė, kad 2004-ieji prekybos metai bendrovei Olympic Airlines buvo sunkūs: veiklos nuostolis buvo 94,5 mln. EUR, apyvarta – 616,7 mln. EUR, o grynasis metų nuostolis, neatskaičius mokesčių, – 87,1 mln. EUR. Net ir bendrojo veiklos pelno lygmeniu (atėmus iš apyvartos tiesiogines paslaugų sąnaudas) įmonė gavo vos 4 mln. EUR pelną.
English: The experts carried out an analysis of the company’s cash flow of the company in 2004, and showed that the company had followed the latter course, with creditors increasing by EUR […] million in the year. Among the most significant increases in the suppliers account there was a sum of EUR […] million owed to AIA, up from EUR […] million in 2003. In April 2005, Olympic Airlines entered into a settlement agreement with AIA for the payment of EUR […] million of the EUR […] million debt outstanding at that date.
Lithuanian: Komisijos ekspertai atliko įmonės pinigų srauto 2004 m. analizę ir galėjo įrodyti, kad įmonė pasirinko pastarąją galimybę ir kreditas per metus padidėjo […] mln. EUR. Vienas didžiausių padidėjimų tiekėjų sąskaitose – oro uostui AIA mokėtina […] mln. EUR suma, kuri nuo 2003 m. padidėjo […] mln. EUR. 2005 m. balandžio mėn. Olympic Airlines ir AIA sudarė atsiskaitymo susitarimą dėl […] mln. EUR iš tos dienos duomenimis negrąžintos […] mln. EUR skolos mokėjimo.
English: In Greece’s opinion the new law protecting Olympic Airways Services and Olympic Aviation from enforcement proceedings (Law 3259/2004) was necessary to ensure the privatisation process. This temporary measure did not deprive creditors of their rights, but suspended enforcement proceedings for a limited period.
Latvian: Attiecībā uz jauno likumu (Likums Nr. 3259/2004), kas aizsargā uzņēmumus OAS un OAv no izpildes procedūrām, kuras vērstas pret tiem, Grieķija norādīja, ka tā šo pasākumu uzskata par nepieciešamu, lai nodrošinātu privatizācijas procesu.
English: As regards the ABN Amro loan, the Government paid instalments of around EUR 36 million direct, in place of the undertaking, without a prior default and without a prior legal declaration of bankruptcy or insolvency. The fact that the Government subsequently asked the company to pay the money back shows that the payment was not a mere execution of claims under a guarantee granted in the past.
Latvian: saistībā ar ABN Amro aizdevumu valdība veica tiešus maksājumus (par kopējo summu aptuveni EUR 36 miljoni) uzņēmuma vietā, lai gan maksājumi nebija kavēti un iepriekš likumīgi netika paziņots par uzņēmuma bankrotu vai maksātnespēju; fakts, ka valdība vēlāk pieprasīja uzņēmumam atmaksāt attiecīgo summu, liecina par to, ka maksājumi nebija uzskatāmi par iepriekš izsniegtu garantiju izpildi,
English: Moreover, the loan contracts for the four aircraft were formally amended (by novation) so that the State replaced the undertaking as recipient of the loans. These very substantial changes predated the payments at issue here.
Polish: ponadto oficjalnie zmodyfikowano umowy o pożyczkę w przypadku czterech statków powietrznych (poprzez konwersję wierzytelności), tak aby zamiast przedsiębiorstwa beneficjentem pożyczek stało się państwo; te bardzo istotne zmiany wprowadzono przed dokonaniem przedmiotowych płatności,
Latvian: turklāt attiecībā uz četriem gaisa kuģiem aizdevumu līgumos oficiāli tika izdarītas izmaiņas (novatio), lai aizstātu uzņēmēju ar valsti kā aizdevuma saņēmēju; šīs patiešām būtiskās izmaiņas tika veiktas pirms attiecīgo maksājumu veikšanas,
English: Law 3282/2004, whereby the State took over Olympic Airways’ obligations towards financial institutions in respect of the financing and leasing arrangements for Olympic Airlines’ Airbus A340-300 aircraft.
Maltese: il-Liġi 3282/2004 li biha l-Istat issostitwixxa lil Olympic Airways f’termini tal-obbligi ta' din tal-aħħar lejn l-istituzzjonijiet finanzjarji fir-rigward tal-iffinanzjar u l-arranġamenti ta' kiri tal-ajruplani Airbus A340-300 ta' Olympic Airlines.
English: (e-mails dated 22 December 2004 and 4 April 2005).
Maltese: (b’emails datati 22 ta' Diċembru 2004 u 4 ta' April 2005).
English: In drawing up and implementing Law 3185/2003 the intention of the Greek authorities seems to have been to enable the flight divisions of the Olympic Airways group, now absorbed into Olympic Airlines, to continue trading and to proceed to privatisation. The Commission must therefore examine the relationship between Olympic Airways and Olympic Airlines.
Maltese: L-intenzjoni tal-Awtoritajiet Griegi li jfasslu u jimplimentaw il-Liġi 3185/2003 jidher li kienet sabiex jippermettu lit-taqsimiet tat-titjir ta’Olympic AirwaysG, fil-libsa ġdida tiegħu bħalaOlympic Airlines, li jkomplu jinnegozjaw u jgħaddu għall-ipprivatizzar.
English: The Court of Justice has also considered the transfer of assets to Olympic Airlines, which is the essential component in the restructuring, in its judgement in Case C-415/03 Commission v Greece. The Court there found that ‘the operation in issue transferred all the assets of the company Olympic Airways, free of all debts, to the new company Olympic Airlines … that operation was structured in such a way as to make it impossible, under national law, to recover the debts of the former company Olympic Airways from the new company Olympic Airlines’ [16].
Maltese: Il-Qorti tal-Ġustizzja ikkunsidrat ukoll it-trasferiment tal-assi lil Olympic Airlines, li huwa aspett essenzjali tar-ristrutturar, fis-sentenza tagħha fil-Kawża C-415/03 Il-Kummissjoni v il-Greċja.. Il-qorti kkonkludiet li t-trasferiment tal-“assi tal-kumpanija Olympic Airways ħielsa mid-djun kollha lill-kumpanija l-ġdida Olympic Airlines…kien strutturat b’mod li jagħmilha impossibbli, taħt il-liġi nazzjonali, li jiġu rkuprati d-djun tal-kumpanija preċedenti Olympic Airways mingħand il-kumpanija l-ġdida Olympic Airlines” [16].
English: On 26 June 2003 the Greek Government replied, saying that it was examining the legal effects of the 2002 Decision and of the procedure the Commission had followed in adopting it. It also assured the Commission that it intended to carry out the recovery. It did not carry out the recovery, nor did it provide the Commission with a timetable for doing so.
Dutch: De Commissie was bijgevolg genoodzaakt wegens niet-uitvoering van een beschikking bij het Europese Hof van Justitie een proces aan te spannen dat op 3 oktober 2003 plaatsvond (zaak C–415/03).
English: The Court of Justice ruled in the case on 12 May 2005: it found in favour of the Commission [7]. The Court (Second Chamber) declared that by failing to take within the prescribed period all the measures necessary for repayment of the aid found to be unlawful and incompatible with the common market — except that relating to the contributions to the national social security institution — Greece had failed to fulfil its obligations.
Dutch: Het Hof (Tweede Kamer) verklaarde dat Griekenland zijn verplichtingen niet was nagekomen door binnen de vastgestelde termijn niet de nodige maatregelen te nemen om de steun terug te vorderen die onrechtmatig en onverenigbaar met de gemeenschappelijke markt werd geacht, met uitzondering van de bedragen betreffende de socialezekerheidsbijdragen.
Slovak: Súd (druhá komora) vyhlásil, že nedodržaním predpísanej lehoty na prijatie všetkých potrebných opatrení na vrátenie pomoci, o ktorej sa zistilo, že je neoprávnená a nezlučiteľná so spoločným trhom – s výnimkou tých súm, ktoré sa týkajú príspevkov sociálneho zabezpečenia – si Grécko nesplnilo svoje záväzky.
English: Olympic Airways has been loss-making since 2002. Its profitability continues to be negative. Its core business, rather than generating income, is reducing the overall value of the company year on year. It is difficult if not impossible to believe, therefore, that it has been able to continue in business only because it has not been paying its debts to the State.
Dutch: De resultaten van Olympic Airways (hierna „OA”) waren sinds 2002 op jaarbasis negatief, de rentabiliteit bleef eveneens negatief, en in plaats van inkomsten te genereren was de onderneming vooral doende haar totale waarde op jaarbasis te verminderen.
English: The non-flight divisions were to stay within Olympic Airways, now renamed ‘Olympic Air Services’. Law 3185/2003 provided that an identical procedure could be undertaken in respect of the ground handling and maintenance and engineering divisions, although to date this has not been done.
Dutch: De niet-vluchtdivisies moesten binnen OA blijven die de nieuwe naam Olympic Air — Services nv (hierna „OAS”) kreeg, en wet 3185/2003 bepaalde dat eenzelfde procedure kon worden gevolgd voor de afdelingen grondafhandeling en onderhoud en engineering; dit is tot op heden nog niet gebeurd.
English: Management had taken advantage of Law 3185/2003 to exclude from the hive-off all liabilities over one month old. (116) The experts carried out a comparison between the liabilities transferred and those left behind by comparing extracts from the opening balance sheet of Olympic Airlines at 11 December 2003 with the year-end balance sheets of Olympic Airways and Olympic Aviation at 31 December 2003 (Olympic Airways and Olympic Aviation did not prepare balance sheets at 11 December 2003).
Dutch: De deskundigen hebben de overgedragen passiva met de achtergebleven passiva vergeleken door uittreksels van de balans uit de beginbalans van NOA van 11 december 2003 te vergelijken met de eindbalans van OA en OAv van 31 december 2003 (OA en OAv stelden op 11 december 2003 geen balans op).