natgillin/translations-raw huggingface dataset:
Med hensyn til finansieringen af de pågældende infrastrukturforanstaltninger anførte Tyskland, at foranstaltningerne blev finansieret gennem aktionærlån ydet på normale markedsvilkår og derfor ikke udgør statsstøtte i henhold til traktatens artikel 107, stk. 1.
Germany cited ICAO provisions that require airport managers to provide space for the treatment of wounded people and for the storage of dead bodies in the case of an emergency.
Tyskland påpegede, at disse lån endnu ikke var blevet konverteret til egenkapital, og at konverteringen af aktionærlånene skal godkendes af Kommissionen.
Moreover, according to Germany, the multi-purpose hangar can also accommodate passengers that cannot continue their journey due to natural phenomena (for example the ash cloud in 2010).
Tyskland præciserede, at lånene ydes, efterhånden som der er behov herfor under opførelsen, og at det samlede beløb ændrer sig hver måned.
Furthermore, Germany stressed that the construction of the new hangar was necessary since the enlargement of the multi-purpose hangar at its previous position would not have been possible.
Ifølge Tyskland går lånets løbetid fra den dato, hvor lånet udbetales.
With regard to measure M6, Germany referred to the arguments in connection with M5.
Tyskland forklarede endvidere, at det enkelte lån forfalder ved udgangen af det år (31. december), hvor det ydes.
Furthermore, Germany stated that the construction of the taxiway Victor had been postponed.
I denne forbindelse anførte Tyskland, at disse lån derefter blev forlænget med yderligere et år.
According to Germany the expansion of the de-icing areas (M7) was also conducted in fulfilment of an official State function as the facilities were required for operational safety and environmental reasons.
Tyskland påpegede, at løbetiden kan forlænges flere gange, indtil Kommissionen som forventet godkender kapitaltilførslerne.
Furthermore, Germany explained that the additional de-icing areas were not required to guarantee sufficient capacity in case of increasing traffic since Leipzig/Halle airport could handle increasing traffic even without additional de-icing areas.
Tyskland tilføjede, at lånebeløbet og de forfaldne renter skal betales ved årets udgang (dvs. den 31. december hvert år), men lånets løbetid kan forlænges med yderligere et år.
It argued that the expansion of the de-icing areas became necessary as a result of the experiences during the winter operation 2008-09.
Tyskland anførte desuden, at denne mulighed for forlængelse gjorde det muligt at forlænge lånet indtil den dato, hvor Kommissionen træffer sin endelige afgørelse.
According to Germany, the additional de-icing facilities serve to guarantee smooth de-icing of aircrafts and to prevent delays caused by inadequate de-icing infrastructure at the airport.
Med hensyn til rentesatsen for de enkelte lån anførte Tyskland, at den var fastsat på grundlag af den gældende Euribor på tidspunktet for udbetaling af hver enkelt tranche plus et risikotillæg.
In this respect, Germany submitted that delays, in turn, would have a negative impact on the environment, such as kerosene consumption, harmful emissions and noise.
Ifølge Tyskland vil løbetiden for et lån, der ydes den 1. juli (indtil årets udgang) være seks måneder, og rentesatsen vil være lig summen af den 6-måneders Euribor og et risikotillæg.
Regarding measure M8, Germany argued that the construction of a heliport facilitates air rescue at the airport and in general.
Tyskland præciserede endvidere, at referencebasissatsen for et lån ydet den 1. maj (en løbetid på otte måneder indtil årets udgang) beregnes ved at interpolere den 6-måneders og 9-måneders Euribor-rente.
Regarding M9.1, Germany stated that the rebuilding of Checkpoint 1 was absolutely necessary in light of Regulation (EC) No 300/2008 of the European Parliament and of the Council [22].
Tyskland forklarede desuden, at den gældende rentesats vil være den 12-måneders Euribor plus et risikotillæg fra januar måned året efter forlængelsen af lånet.
Germany pointed out that this rebuilding falls within the public policy remit and that its financing was limited to the costs incurred.
Tyskland fremlagde en oversigt over de samlede lånebeløb og vilkår, som er sammenfattet i tabel 3.
Additionally, Germany is also of the opinion that the construction of the functional security building (M9.2) fell within the public policy remit and that the financing was limited to the costs incurred.
Tabel 3
Germany stated that the new functional security building also helped to comply with Regulation (EC) No 300/2008 and was necessary to meet the needs of the federal and regional police, customs and the German Meteorological Service.
Oversigt over FLH's aktionærlån i perioden 13.12.2006-1.1.2012
Regarding M9.3 which concerned the procurement of technical equipment, that is to say the procurement of additional winter service equipment, of additional firefighting equipment and the retrofitting of the airport perimeter fence with detectors and digital video surveillance equipment, Germany argued that the three measures fell within the public policy remit.
Tysklands svar af 26. april 2012, bilag 14.
Regarding the new winter service equipment, Germany stated that the equipment permitted that the runways can be cleared in parallel, what ensured a safe operation of the airport, and hence was falling within the public policy remit.
Dato
Moreover, Germany pointed out that according to §8 of the German Luftsicherheitsgesetz (Aviation Security Act, ‘LuftSiG’), which implemented Regulation (EC) No 300/2008, the airport had to be surrounded by a perimeter fence.
Beløb i mio. EUR
Germany emphasised that according to settled Commission practice, the airport security infrastructure, such as perimeter fencing, falls within the public policy remit.
(akkumuleret)
Concerning measure M9.4 (that is to say the construction of a new animal transport building including veterinary facilities), Germany also submitted that the establishment of this building falls within the public policy remit, as it was aimed to ensure that no animal diseases or other illnesses were brought into Germany and the Union.
Risikotillæg
Regarding M12, Germany stated that in order to be able to further develop cargo traffic and to diminish the risk of accidents on the ground, the planning permission was needed.
Samlet rente
With regards to M11 and M13 to M16, Germany pointed out that it did not claim in its notification that these measures were implemented to carry out activities falling within the public policy remit.
(Euribor + tillæg)
According to Germany, these measures included the land side development of the south-eastern zone, the northern apron expansion, the eastern apron expansion, infrastructure adaptation in the northern zone and additional infrastructure measures in the northern zone.
Med hensyn til risikotillægget anførte Tyskland, at der blev fastsat et risikotillæg på […] basispoint for 2006-2008.
FINANCING OF THE INFRASTRUCTURE THROUGH FLH’S SHAREHOLDER LOANS
Tyskland anførte, at denne sats blev fastsat ved at sammenligne lånevilkårene i følgende låneaftaler:
Financing conditions
Låneaftale mellem MFAG og Sachsen LB undertegnet den 19. og 22. august 2003 med fastsættelse af et tillæg på […] basispoint pr. år
Regarding the financing of the infrastructure measures at stake, Germany stated that the measures were financed by shareholder loans which were granted under normal market conditions, and thus do not constitute State aid pursuant to Article 107(1) of the Treaty.
Låneaftale mellem Sachsen LB/Nord LB undertegnet den 16. maj 2007 med fastsættelse af et tillæg på […] basispoint pr. år
Germany pointed out that these loans had so far not been converted into equity and that the conversion of the shareholder loans is subject to Commission’s approval decision.
Låneaftale mellem MFAG og Postbank undertegnet den 28. juni og 15. juli 2007 med fastsættelse af et tillæg på […] basispoint pr. år
Germany clarified that the loans are provided according to the construction needs and that their total amount is changing on a monthly basis.
Tyskland anførte, at det beregnede gennemsnitlige risikotillæg blev rundet op fra […] basispoint i gennemsnit til […] basispoint.
According to Germany, the loan duration starts at the date on which the loan is paid out.
Ifølge Tyskland beløb risikotillægget sig i 2010 til […] basispoint.
Germany further explained that each loan matures at the end of the year (31 December) in which it is provided.
Anvendelse af markedssammenligningsdata til fastsættelse af FLH's markedsrente
In this context, Germany stated that these loans were then prolonged for a further period of 1 year.
Tyskland anførte, at overensstemmelsen af FLH's aktionærlån med markedsvilkårene efter Tysklands opfattelse bør vurderes på grundlag af markedssammenligningsdata og ikke på grundlag af referencesatsmeddelelsen fra 2008.
According to Germany, multiple extensions of the duration are possible until the expected authorisation of the capital injections by the Commission is received.
Endvidere påpegede Tyskland, at låneaftalen mellem MFAG og Sachsen LB af 19./22. august 2003 rent faktisk udgjorde en passende benchmark for fastsættelse af aktionærlånenes rentesatser.
Germany stated further that the loan amount and the payable interest are due on the end-date (that is to say 31 December of each year), but the duration of the loan might be prolonged by 1 additional year.
Tyskland var ikke enig i, at låneaftalen mellem MFAG og Sachsen LB ikke var et passende grundlag for benchmarking, fordi den var indgået med en anden støttemodtager, nemlig MFAG og ikke FLH.
Furthermore, Germany argued that this extension option allowed the prolongation of the loan until the date on which the Commission takes its final decision.
Tyskland påpegede, at Kommissionen blot betragtede MFAG som et instrument for overførsel af midler til FLH og ikke som en støttemodtager i sig selv.
With regard to the interest rate for each loan, Germany explained that it was set on the basis of the EURIBOR applicable at the moment of providing each tranche plus a risk margin.
Tyskland forklarede, at aftalen om kontrol og overførsel af overskud og dækning af underskud indgået mellem MFAG og FLH forpligtede FLH til at overføre hele sin fortjeneste til MFAG og forpligtede MFAG til at dække alle FLH's tab, således at FLH's årlige nettofortjeneste/-tab altid var nul.
According to Germany, if a loan is provided on 1 July its duration (until the end of the year) will be 6 months and the interest rate will be the sum of the 6-month EURIBOR and a risk margin.
Som følge heraf var rentetillægget for et koncernselskab altid lig med rentetillægget for moderselskabet og omvendt.
Germany clarified further that if a loan is provided on 1 May (a duration of 8 months until the end of the year) the reference base rate will be calculated by interpolating the 6-month and the 9-month EURIBOR rates.
Tyskland påpegede, at låneaftalen, selv om den blev indgået i 2003, omfattede et langfristet roll-over-lån med udløb i 2013 med fastsættelse af renten for tre måneder ad gangen.
Germany clarified further that as of the month of January following the year in which the loan was extended the valid interest rate will be the 12-month EURIBOR plus a risk margin.
I denne forbindelse anførte Tyskland, at risikotillægget på […] basispoint således var gældende i perioden 2006-2008 og stadig vil være gældende i dag.
Germany provided an overview of the accumulated loan amounts and conditions as summarised in Table 3.
Tyskland var desuden ikke enig med Kommissionen i, at Sachsen LB kun var i stand til at tilbyde et rentetillæg på […] basispoint på grund af den lavere rente forbundet med EIB-finansieringen.
Table 3
Ifølge Tyskland havde EIB-finansiering ikke nogen indflydelse på fastsættelsen af rentetillægget på […] basispoint.
Overview of FLH’s shareholder loans 13.12.2006-1.1.2012
Tyskland var endvidere ikke enig med Kommissionen i, at låneaftalen mellem Postbank og MFAG ikke kunne anvendes som benchmark.
Submission of Germany dated 26 April 2012, annex 14.
Den blev indgået til fordel for FLH, den blev ikke indgået på et andet tidspunkt, og der var ingen særlige betalingsbetingelser.
Date
Tyskland anførte endvidere, at det bindende finansieringstilbud fra Sachsen LB og Nord LB af 16. maj 2007 var en egnet benchmark.
Amount in million EUR
Tyskland understregede endvidere, at selv hvis overensstemmelsen med markedet eller lånenes subventionsækvivalent eller begge dele blev vurderet i henhold til referencesatsmeddelelsen fra 2008, ville der ikke være tale om statsstøtte.
Risk margin
Tyskland anførte ikke desto mindre, at der er visse tegn på, at lufthavnen er kreditværdig.
Regarding the risk margin rates, for the years 2006 to 2008, Germany stated that a risk margin of […] basis points was used.
Tyskland anførte endvidere, at den største aktionær i FLH er MFAG, der ejer 94 % af aktierne i FLH.
Germany clarified that this rate was determined by comparing the loan conditions of the following loan agreements:
Tyskland påpegede, at FLH's rating mindst skal være den samme som (eller højere end) moderselskabet MFAG's rating på grund af en aftale om overførsel af overskud og dækning af underskud mellem MFAG og FLH af 6. december 2000, der forpligter MFAG for at dække FLH's eventuelle tab.
Loan agreement between MFAG and Sachsen LB from 19/22.8.2003 setting a margin of […] basis points per annum;
Tyskland anførte, at MFAG's kreditværdighed ikke er blevet vurderet af offentlige kreditvurderingsbureauer.
Loan agreement between MFAG and Sachsen LB/Nord LB from 16.5.2007 setting a margin of […] basis points per annum;
Tyskland har ikke desto mindre fremlagt en række bankers interne ratings af MFAG.
Loan agreement between MFAG and Postbank from 28.6.2007/15.7.2007 setting a margin of […] basis points per annum;
Tyskland oplyste, at Nord LB i 2006 havde tildelt MFAG en rating på […] på sin interne kreditvurderingsskala (med en sandsynlighed for misligholdelse på […] %), hvilket svarer til en rating på […]-[…] på Standard & Poor's kreditvurderingsskala, […]-[…] på Moody's og […]-[…] på Fitch'.
Germany stated that the average risk margin calculated was rounded up from […] basis points to […] basis points on average.
Tyskland tilføjede, at MFAG har ligget i denne ratingkategori siden 2006.
Regarding the risk margin of […] basis points set in 2009, Germany clarified that the rate was determined by comparing the conditions of two indicative offers from Sachsen Bank and Nord LB of 8 and 9 January 2009 respectively, and the loan agreements between MFAG and Sachsen LB and Postbank of 19/22 August 2003 and 28 June/15 July 2007.
Tyskland anførte endvidere, at denne vurdering blev bekræftet af Nord LB den 2. august 2011 og den 20. april 2012.
Germany stated that due to prudence considerations the margin was rounded up from […] basis points to […] basis points on average.
Tyskland anførte desuden, at Deutsche Kreditbank AG (DKB) har fremlagt sine ratings, hvor banken bekræfter, at selskabet på grundlag af MFAG's regnskaber for 2006 er blevet tildelt en rating på […] på bankens interne kreditvurderingsskala, hvilket svarer til en rating på […] hos Standard & Poor's og […] hos Moody's.
According to Germany in 2010, the risk margin amounted to […] basis points.
I tabel 4 sammenfattes MFAG's ratings i perioden 2006-2012 (den betragtede periode).
Furthermore, Germany explained that this figure was determined by comparing two indicative offers from Sachsen LB [23] and Nord LB [24] of 11 and 14 January 2010 respectively, and the loan agreement between MFAG and Sachsen LB of 19/22 August 2003.
Tabel 4
Germany stated that due to prudence considerations, the average margin was again rounded up from […] basis points to […] basis points on average.
MFAG's rating i perioden 2006-2012
Germany explains that in 2011, the interest margin used amounted to […] basis points and that the calculation was based on a comparison between two indicative offers from Sachsen Bank and Nord LB of 29 June 2011, and the loan agreements between Postbank and MFAG dated 28 June/15 July 2007, and between Sachsen LB and MFAG dated 19/22 August 2003.
Vurdering af tab givet misligholdelse (LGD)
According to Germany, the margin calculated was again rounded up from […] basis points to […] basis points on average.
Med hensyn til sikkerhedsstillelsen for lånene og LGD anførte Tyskland, at lånene er ydet af FLH's aktionærer i form af midlertidig finansiering, hvilket betyder, at de skal konverteres til kapital efter Kommissionens godkendelse.
Application of market comparators to identify the market rate of FLH
I denne forbindelse præciserede Tyskland endvidere, at dette er grunden til, at lånene ikke er sikret.
Germany stated that in its opinion the market conformity of FLH’s shareholder loans should be assessed on the basis of market comparators and not on the basis of the 2008 Reference Rate Communication.
Tyskland anførte, at der ikke er nogen specifikke vilkår for tilbagebetaling af aktionærlånene, idet det blev antaget, at lånene konverteres til egenkapital og derfor ikke skal betales tilbage.
Moreover, Germany argued that the loan agreement between MFAG and Sachsen LB of 19/22 August 2003 indeed constituted a suitable benchmark to identify the market level of the interest rates for the shareholder loans.
Ved ophævelsen af aftalen forfalder lånebeløbet med tilskrevne renter til betaling.
Germany pointed out that the Commission itself regarded MFAG only as a vehicle for the transfer of funds to FLH and not as an aid beneficiary itself.
Tyskland gør gældende, at selv om lånene ikke er sikrede, bør FLH's LGD som minimum være under […] % og endog tæt på […] %, fordi værdien af FLH's aktiver (dvs. […] mio. EUR i 2010) overstiger værdien af passiverne ([…] mio. EUR i 2010).
Germany explained that the control, profit and loss transfer agreement between MFAG and FLH obliged FLH to transfer all its profits to MFAG and required MFAG to cover all losses of FLH, thus the net annual profit/loss for FLH was always zero.
Efter Tysklands opfattelse vil FLH's aktiver i tilfælde af konkurs være tilstrækkelige til at dække disse fordringer.
As a consequence, the interest margin granted to a group company was always equivalent to the interest margin granted to the parent company and vice versa.
Tyskland anførte, at FLH's aktionærer eller eksterne kreditorer ikke på nogen måde har sikkerhed i selskabets aktiver, der bl.a. omfatter ejendomsretten til jord, bygninger, tekniske installationer og maskiner.
According to Germany, even though the loan agreement was concluded in 2003, it contained a long-term roll-over loan running until 2013 with interest fixed for 3 months at a time.
Ingen opnået fordel i forbindelse med kapitaltilførslerne
In this respect, Germany stated that the risk margin of […] basis points was thus applicable between 2006 and 2008 and would still apply today.
For så vidt angår kapitaltilførsler til opførelse af lufthavnen, understregede Tyskland, at det markedsøkonomiske investorprincip (»det markedsøkonomiske princip«) ikke fandt anvendelse, eftersom opførelsen af lufthavnen udgjorde en almen foranstaltning i økonomisk politik, der faldt uden for statsstøttekontrollen.
Moreover, Germany disagreed with the Commission’s argument that Sachsen LB was only able to offer the interest margin of […] basis points due to a reduced level of interest provided through EIB financing.
STØTTENS FORENELIGHED
According to Germany, the EIB financing had no influence on the determination of the interest margin of […] basis points.
Et veldefineret mål af fælles interesse
Germany also rejected the Commission’s observation that the loan agreement between Postbank and MFAG could not be used as a benchmark.
Tyskland anførte, at finansieringen af de pågældende investeringer bidrager til et veldefineret mål af fælles interesse.
It was concluded for the benefit of FLH, it was not agreed at a different time, and the payment was not subject to specific conditions.
I denne forbindelse anførte Tyskland, at luftfragtsektoren, navnlig eksprestjenester, oplever en betydelig vækst, især i Leipzig/Halle Lufthavn (i perioden 2007-2010 steg fragtmængden fra 101364 t til 663059 t).
Furthermore, Germany argued that the binding financing offer from Sachsen LB and Nord LB dated 16 May 2007 was a suitable benchmark.
Tyskland tilføjede, at luftfragtselskaberne er i gang med at udvide deres driftskapacitet.
Moreover, referring to the argument of the Commission that it doubted whether indicative proposals submitted by an e-mail without the aim of entering into legally binding loan agreements could be considered as a reliable market benchmark [25], Germany stated that Nord LB and Sachsen Bank both have had long-standing business relations with MFAG and were kept regularly informed about the economic situation of FLH and MFAG, thus the indicative proposals were based on a thorough risk assessment.
Tyskland påpegede, at der er natflyvningsbegrænsninger i de tre store luftfragtknudepunkter — Frankfurt/Main, München og Köln/Bonn.
Furthermore, Germany pointed out that even if the market conforming nature or the aid equivalent of the loans or both were to be tested according to the 2008 Reference Rate Communication, there would be no State aid.
Tyskland hævder endvidere, at Frankfurt/Main Lufthavn ifølge en dom af 4. april 2012 ikke længere må udføre natflyvninger.
Germany stressed that the new method for calculating the reference rate only applied from 1 July 2008.
Efter Tysklands opfattelse bidrager FLH således til at aflaste andre fragtlufthavne i Tyskland.
As a consequence, for loan agreements concluded before this date, the previous Reference Rate Communication has to be applied.
Tyskland anførte endvidere, at gennemførelsen af projektet vil indvirke positivt på hele regionen og påvirke regionens økonomiske og sociale udvikling væsentligt.
Credit rating of MFAG/FLH
Ifølge Tyskland vil investeringsprojektet navnlig forbedre regionens tilgængelighed og øge dens evne til at tiltrække investorer og besøgende.
Germany confirms that FLH has not been rated by public credit rating agencies.
Tyskland anførte i denne forbindelse, at investeringsprojektet også vil have en positiv indvirkning på beskæftigelsen.
Nevertheless, Germany stated that there are some indications of its creditworthiness.
Til støtte for dette argument påpegede Tyskland, at arbejdsløsheden i Sachsen er 10,3 % og 11,2 % i Sachsen-Anhalt, hvilket er højere end det tyske gennemsnit på 6,9 %.
Germany stated further that the main shareholder of FLH is MFAG, which owns 94 % of the shares in FLH.
Tyskland anførte derfor, at statsstøtten bidrager til et veldefineret mål af fælles interesse.
According to Germany, as there is a Loss and Profit Sharing Agreement between MFAG and FLH from 6 December 2000, which obliges MFAG to cover any losses of FLH, the rating of FLH should be at least the same (or higher) as the rating of its parent company MFAG.
Behov for statslig indgriben
Germany stated that MFAG has not been rated by public credit rating agencies.
Tyskland gjorde gældende, at ingen privat investor ville være interesseret i at finansiere disse infrastrukturforanstaltninger.
Nevertheless, Germany provides some internal bank ratings for MFAG.
Tyskland påpegede i denne forbindelse, at Leipzig/Halle Lufthavn lider under et historisk investeringsefterslæb.
Germany stated that in 2006 Nord LB had rated MFAG with a rating note of […] on its internal rating scale (with a probability of default of […] %) which corresponds to a rating of […] to […] on the Standard & Poor’s rating scale, […] to […] on Moody’s and […] to […] on Fitch.
Ifølge Tyskland vedrører foranstaltningerne desuden langsigtede infrastrukturinvesteringer, der imødegår lufthavnens behov i forbindelse med den fremtidige stigning i fragttransport.
Germany stated further that MFAG is in this rating category since 2006.
Tyskland hævder, at foranstaltningerne hverken er uforholdsmæssigt omfattende eller uforholdsmæssigt omkostningskrævende.
Germany clarified further that on 2 August 2011 and 20 April 2012 respectively, this assessment has been confirmed by Nord LB.