natgillin/translations-raw huggingface dataset:
Det fremgår af de italienske myndigheders udtalelse om, at kommunen udpeger bestyrelsesmedlemmer, som derefter udnævnes af generalforsamlingen, hvor kommunen deltager som majoritetsaktionær.
The public authorities did not even have to refer to the letters in order to exercise such influence, it being evident that their existence alone placed the directors in a position of subordination to the mayor of Milan.
Denne formelle kontrol, som kommunen udøver over SEA, er ikke i sig selv tilstrækkelig til at bevise, at kommunen faktisk udøver kontrol over SEA i det foreliggende tilfælde, men det underbygger de øvrige beviser.
With regard to the statements made by the Italian authorities concerning the designation of directors, the Commission repeats that the Municipality, de facto, ‘appoints the members of the board of directors’.
De italienske myndigheder har fremlagt moddokumentation for at vise, at foranstaltningerne ikke kunne tilregnes staten, nemlig det forhold, at byrådsmedlemmerne var blevet nægtet adgang til SEA's interne dokumenter ved flere lejligheder.
This is clear from the fact that, as the Italian authorities have stated, the Municipality designates the directors, who are then appointed by the general meeting, of which the Municipality forms a part as majority shareholder.
Kommissionen mener ikke, at dette bevis er afgørende, eftersom ren overholdelse af formelle krav i den italienske civillovbog om ikke at offentliggøre interne selskabsoplysninger, såsom referater fra bestyrelsesmøder, ikke hindrer kommunen i at øve reel indflydelse på SEA, både generelt og i det foreliggende tilfælde.
This formal control exercised by the Municipality over SEA is not in itself sufficient to prove that the Municipality does in fact exercise control over SEA in the particular case, but it does help to prove it.
Desuden bemærker Kommissionen, at de byrådsmedlemmer, som blev nægtet adgang til visse dokumenter, tilhørte oppositionen og ikke sad i byrådets forretningsudvalg.
The Italian authorities have put forward counterevidence to show that the measures were not imputable to the State, namely the fact that members of the Municipal Executive had been denied access to SEA internal documents on several occasions;
Når Kommissionen hævder, at Milano kommune fastholder SEA i et afhængighedsforhold, henviser den nærmere bestemt til de myndigheder, som udøver deres beføjelse til at træffe beslutninger på vegne af kommunen, og som derfor er i stand til at øve indflydelse på selskabets ledelse.
the Commission considers this evidence to be inconclusive, since mere compliance with the formal requirement in the Italian civil code not to disclose internal company information, such as the minutes of the board of directors, does not prevent the exercise of influence by the Municipality over SEA in fact, both in general and in the case in point.
I betragtning af betydningen af aktiviteten i lufthavnene Malpensa og Linate for den lokale samfundsøkonomi og deres vitale rolle i politik med hensyn til såvel transport som regionaludvikling vil de lokale offentlige myndigheder for det fjerde som regel ikke »holde sig udenfor«, når koncessionshaveren træffer vigtige beslutninger om driften og den langsigtede udvikling af disse infrastrukturer, især når en sådan myndighed også er koncessionshaverens kontrollerende aktionær.
Furthermore, the Commission observes that the members of the municipal council who were denied access to certain documents belonged to the opposition, and did not form part of the Municipality’s executive body.
I deres bemærkninger har de italienske myndigheder bekræftet den politiske betydning af de omhandlede foranstaltninger.
When the Commission affirms that the Municipality of Milan keep SEA in a state of dependency on it, it is referring more especially to the authorities who exercise the power to take decisions on behalf of the Municipality, and who are consequently in a position to influence the management of the company.
I det foreliggende tilfælde var foranstaltningerne til dækning af SEA Handlings tab desuden i det mindste en integreret del af SEA-koncernens strategi, som de italienske myndigheder forklarer i deres bemærkninger.
Fourth, on a general level, given the importance of the operation of Malpensa and Linate airports in the local socioeconomic context and their vital role in policy, in terms of both transport and regional development, the local public authorities will not as a rule be ‘absent’ when the airport operator makes important decisions concerning the functioning and long-term development of such infrastructures, especially when such an authority is also the airport manager’s controlling shareholder.
For det femte var foranstaltningerne til dækning af tabene, som blev gennemført via kapitaltilførsler til SEA Handling, ikke almindelige ledelsesmæssige foranstaltninger, men undtagelsesvise foranstaltninger.
In their observations the Italian authorities have confirmed the political importance of the measures in question.
Den ekstraordinære karakter af foranstaltningerne afspejles både i økonomisk henseende i form af de pågældende beløbsstørrelser (hvert tab blev opvejet af en forøgelse af selskabskapitalen på flere millioner euro) og i politisk henseende i form af foranstaltningernes forventede virkning for opretholdelsen af beskæftigelsen.
In the case in point, furthermore, the measures to cover SEA Handling’s losses were at least an integral part of the SEA group’s strategy, as the Italian authorities explain in their observations.
I lyset af deres undtagelsesvise natur blev foranstaltningerne ikke vedtaget af SEA's bestyrelse under udøvelse af dens egne beføjelser, idet de i overensstemmelse med SEA's vedtægter og principperne i civillovbogen udtrykkeligt skulle godkendes af generalforsamlingen, hvor kommunen er majoritetsaktionær.
Fifth, the measures to cover losses, implemented through increases in SEA Handling’s capital, were not ordinary management measures but exceptional measures.
Der er derfor ingen tvivl om, at kommunen var fuldt informeret om foranstaltningerne og godkendte dem som nævnt i referatet fra generalforsamlingen.
The extraordinary character of the measures is reflected both in economic terms, given the scale of the amounts in question (each absorption of losses was offset by means of a capital increase of several million euros), and in political terms, given the anticipated impact of the measures on the maintenance of employment.
Ikke blot hidrører foranstaltningerne fra kommunen som resultat af dens deltagelse i aftalen af 26. marts 2002, men den blev også informeret om enhver foranstaltning til dækning af SEA Handlings tab, som den systematisk godkendte.
In view of their exceptional nature, the measures were not adopted by SEA’s board of directors, exercising its own powers: in accordance with SEA’s constitution and the principles laid down in the civil code they had to be expressly approved by the general meeting, at which the Municipality is the majority shareholder.
Sådanne undtagelsesvise foranstaltninger kan derfor nødvendigvis tilregnes staten.
There is therefore no doubt that the Municipality was fully informed of the measures and approved them, as shown in the minutes of the general meeting.
Kommissionen bemærker, at Domstolen i Stardust Marine-dommen afgjorde, at tilregnelsen kunne udledes af enhver anden omstændighed, som i det konkrete tilfælde indicerer, at de offentlige myndigheder er impliceret deri, eller som tværtimod sandsynliggør, at de ikke er impliceret i vedtagelsen af en foranstaltning, når det endvidere henses til dennes rækkevidde, indhold eller hermed forbundne betingelser.
Not only did the measures originate with it, as a result of its participation in the agreement of 26 March 2002, but it was also informed of every measure to cover SEA Handling’s losses, which it systematically approved.
Som påvist i afsnit 8.2.3 viser endelig det forhold, at SEA ikke handlede i overensstemmelse med princippet om den private investor, at de offentlige myndigheder var indblandet i de omhandlede foranstaltninger.
Such exceptional measures are therefore necessarily imputable to the State.
I det foreliggende tilfælde mener Kommissionen på baggrund af foranstaltningernes størrelsesorden og andre faktorer identificeret i denne afgørelse og i indledningsbeslutningen, at den har tilstrækkelig dokumentation til at påvise de omhandlede foranstaltningers tilregnelse til den italienske stat på grund af Milano kommunes involvering i foranstaltningerne til dækning af SEA Handlings tab eller den manglende sandsynlighed for, at de offentlige myndigheder ikke var impliceret.
The Commission observes that in the Stardust Marine judgment, the Court of Justice found that imputability could be inferred from any other indicator showing, in the particular case, an involvement by the public authorities in the adoption of a measure or the unlikelihood of their not being involved, having regard also to the compass of the measure, its content or the conditions which it contains.
Derfor må Kommissionen afvise de italienske myndigheders opfordring til, at Kommissionen analyserede hver enkelt foranstaltning, der er truffet om kapital til SEA Handling, for sig for at verificere eksistensen af statsstøtte og især en sådan støttes tilregnelse til Milano kommune.
Finally, as shown in Section 8.2.3, the fact that SEA was not acting in conformity with the private investor test confirms that the public authorities were involved in the measures under discussion.
De faktorer, der er beskrevet i betragtning 174-186, og analysen af foranstaltningerne set fra et privat investorperspektiv giver tilstrækkelig dokumentation for, at dækningen af tabene via kapitaltilførsler kun kan være resultatet af de offentlige myndigheders strategi og involvering i hele den undersøgte periode.
In the particular case, given the scale of the measures and of the other factors identified in this Decision and in the opening decision, the Commission considers that it has sufficient evidence to demonstrate the imputability of the measures in question to the Italian State, given the involvement of the Municipality of Milan in the measures to cover SEA handling’s losses, or the improbability of the public authorities not being involved.
De italienske myndigheder har selv udtalt, at selv om beslutningerne om at dække tabene blev formelt vedtaget på årsbasis, forelå der en flerårig strategi for dækning af tab i hele den periode, der var nødvendig til genopretningen (se betragtning 225-232).
Consequently, the Commission must reject the Italian authorities’ suggestion that the Commission should analyse each of the measures taken with regard to the capital of SEA Handling individually, in order to verify the existence of aid and, in particular, the imputability of any such aid to the Municipality of Milan.
Kommissionen konkluderer derfor, at foranstaltningerne må anses for at kunne tilregnes staten.
The factors described in paragraphs 174-186, and the analysis of the measures from the perspective of a private investor, provide sufficient evidence that the coverage of losses through injections of capital can only be the result of a strategy and an involvement on the part of the public authorities during the entire period under investigation.
FORANSTALTNINGERNES SELEKTIVE KARAKTER
The Italian authorities have themselves stated that while the decisions to cover the losses were formally adopted on an annual basis, there was a multiannual strategy to cover losses over the period needed for restructuring (see paragraphs 225-232).
De omhandlede foranstaltninger er selektive, fordi de kun vedrører SEA Handling.
The Commission therefore concludes that the measures must be considered imputable to the State.
ANVENDELSEN AF DET MARKEDSØKONOMISKE INVESTORPRINCIP OG FOREKOMSTEN AF EN ØKONOMISK FORDEL
THE SELECTIVE NATURE OF THE MEASURES
Med hensyn til forekomsten af en økonomisk fordel er det nødvendigt at fastslå, om en privat investor under lignende omstændigheder ville have dækket tab af den type, som blev dækket i det foreliggende tilfælde.
The measure at issue is selective, because it relates only to SEA Handling.
Domstolen vurderede, at selv om adfærden hos en privat investor, hvormed en offentlig investor må sammenlignes, når denne forfølger økonomipolitiske mål, ikke behøver være samme adfærd, som en almindelig investor udviser, når denne investerer med henblik på at realisere et afkast på relativt kort sigt, skal adfærden mindst være sammenlignelig med et privat holdingselskab eller en privat koncern af selskaber, som forfølger en strukturpolitik — generel eller sektorbestemt — og er styret af udsigterne til rentabilitet på længere sigt.
THE APPLICATION OF THE MARKET-ECONOMY PRIVATE INVESTOR TEST AND THE PRESENCE OF AN ECONOMIC ADVANTAGE
Domstolen har også afgjort, at en privat virksomhed rimeligvis kan fremskaffe den nødvendige kapital for at sikre, at en virksomhed, der er kommet i forbigående vanskeligheder, kan overleve og på ny blive rentabel.
Regarding the existence of an economic advantage, it is necessary to determine whether, in similar circumstances, a private investor would have covered losses of the kind that were covered here.
Når en offentlig investors kapitalindskud foretages uden skelen overhovedet til selv langsigtede rentabilitetsmuligheder, må der imidlertid antages at være tale om støtte efter betydningen i artikel 107 i TEUF.
The Court of Justice has held that although the conduct of a private investor with which the intervention of a public investor pursuing economic policy aims must be compared need not be the conduct of an ordinary investor laying out capital with a view to realising a profit in the relatively short term, it must at least be the conduct of a private holding company or a private group of undertakings pursuing a structural policy — whether general or sectoral — and guided by prospects of profitability in the longer term.
Det skal også påpeges, at der ved bedømmelsen af, om en stat har iagttaget en handlemåde, som en fornuftig investor ville have fulgt under markedsøkonomiske vilkår, og af, om statens handlemåde er økonomisk rationel, skal foretages en vurdering af situationen, som den var på det tidspunkt, da de finansielle støtteforanstaltninger blev truffet, og at der ikke må tages hensyn til omstændighederne, som de har udviklet sig sidenhen.
The Court has also ruled that a private shareholder may reasonably provide the capital necessary to secure the survival of an undertaking which is experiencing temporary difficulties but is capable of becoming profitable again, possibly after a reorganisation.
Således er økonomiske vurderinger foretaget efter tildelingen af nævnte fordel, den efterfølgende konstatering af, at den af den pågældende medlemsstat foretagne investering reelt var rentabel, eller efterfølgende begrundelser for valget af den fremgangsmåde, som blev fulgt, ikke tilstrækkelige til at godtgøre, at denne medlemsstat forud for eller samtidigt med denne tildeling har truffet en sådan beslutning i sin egenskab af aktionær.
However, when injections of capital by a public investor disregard any prospect of profitability, even in the long term, such provision of capital must be regarded as aid within the meaning of Article 107 of the TFEU.
Derfor kan Kommissionen nægte at undersøge de fremlagte beviser[, som] er blevet fastlagt efter vedtagelsen af beslutningen om at foretage den pågældende investering.
It must also be pointed out that in order to examine whether or not the State has adopted the conduct of a prudent investor operating in a market economy, it is necessary to place oneself in the context of the period during which the financial support measures were taken in order to assess the economic rationality of the State’s conduct, and thus to refrain from any assessment based on a later situation.
Flerårig strategi for dækning af tab
Thus, for the purposes of showing that, before or at the same time as conferring the advantage, the Member State took that decision as a shareholder, it is not enough to rely on economic evaluations made after the advantage was conferred, on a retrospective finding that the investment made by the Member State concerned was actually profitable, or on subsequent justifications of the course of action actually chosen.
De italienske myndigheder og SEA fastholder i deres bemærkninger, at selv om beslutningerne om at dække tabene formelt blev truffet på årsbasis, kunne den flerårige strategi for absorbering af tabene gennem den periode, der var nødvendig til omstruktureringen, ikke diskuteres forfra hvert år, og resultaterne kunne kun evalueres over en flerårig periode.
Consequently, the Commission may refuse to examine the evidence produced [which] has been established after the adoption of the decision to make the investment in question.
Kommissionen bemærker, at den modtog fem forretningsplaner, hvoraf nogle vedrørte overlappende perioder med en varighed af ikke over fem år.
Multiannual loss coverage strategy
I betragtning af at udarbejdelsen af en ny forretningsplan generelt indebærer en vurdering af selskabets forretningsstrategi for at fastslå, om man skal videreføre den eller ændre den, mener Kommissionen da også, at den vedtagne strategi med hensyn til SEA Handling kunne være revideret når som helst før vedtagelsen af en ny med det formål at tage hensyn til udviklingen i markedet.
The Italian authorities and SEA maintain in their observations that, while the decisions to cover the losses were formally taken on an annual basis, the multiannual strategy to absorb the losses over the period needed for restructuring could not have been discussed afresh every year, and the results could be evaluated only over a multiannual period.
De italienske myndigheder og SEA har anført, at beslutningen om at dække de kommende tab oprindelig blev truffet i 2002 og for anden gang i 2007, da man ved udsigten til ikke at kunne nå de forventede mål besluttede at revidere den oprindelige strategi for dækning af tab, hvorefter det blev besluttet at gå videre som først planlagt.
The Commission observes that five business plans were submitted to it, some of them relating to overlapping periods, with a duration of no more than five years.
De præsenterer hovedsagelig de omhandlede foranstaltninger som to kapitaltilførsler, der skulle falde i årlige betalinger, men som blev besluttet i 2002 og 2007.
Considering that the drafting of a new business plan generally involves an assessment of the company’s business strategy, in order to determine whether to pursue it further or to change it, the Commission considers that the strategy adopted with regard to SEA Handling could indeed have been reviewed at any time before a new plan was adopted, in order to take market developments into account.
I deres brev af 14. september anførte de italienske myndigheder, at Alitalias de-hubbing i 2007 havde alvorlige følger for SEA Handlings aktivitet.
The Italian authorities and SEA have stated that the decision to cover future losses was initially made in 2002 and then a second time in 2007, when, in view of the failure to reach the expected targets, the decision was taken to review the initial strategy calling for the coverage of losses, after which it was decided to proceed as originally planned.
Disse følger for selskabets finansielle resultater blev forstærket af den økonomiske afmatning og fik SEA til at revurdere hub-modellens rentabilitet og overveje muligheden for at vælge en anden forretningsmodel.
Essentially, they seem to present the measures in question as two injections of capital which were to be made in annual payments but which were decided in 2002 and 2007.
Ifølge de italienske myndigheder besluttede SEA i den sidste analyse — frem for at vælge at udlicitere ground handling-ydelserne — at skabe en ny forretningsmodel, nemlig en self-hub- eller virtuel hub-model, som blot var en enkel videreudvikling af den tidligere model.
In their letter of 14 September, the Italian authorities stated that the de-hubbing of Alitalia in 2007 had grave repercussions on the activity of SEA Handling.
Den nye model krævede tættere kontrol med ground handling-aktiviteterne.
Those repercussions on the firm’s financial performance were exacerbated by the economic downturn and led SEA to reassess the viability of the hub model and evaluate the possibility of selecting a different business model.
Dette viste fornuften i SEA's beslutning om at fortsætte med at dække driftstabene i datterselskabet SEA Handling for at bringe sin ground handling-forretning tilbage til rentabilitet.
According to the Italian authorities, rather than choosing to outsource ground handling services, SEA in the last analysis decided to create a new business model, namely its ‘self-hub’ or ‘virtual hub’ model, which was merely a straightforward development of the previous model.
De italienske myndigheder hævdede derfor, at revisionen af SEA's strategi i henseende til datterselskabet var fuldt berettiget af de uforudsete eksterne omstændigheder og på ingen måde kompromitterede SEA's mål om at vende ground handling-forretningen til rentabilitet på langt sigt.
The new model required tight control of ground handling activities.
Kommissionen anerkender eksistensen af en flerårig strategi for de italienske myndigheders dækning af tab (i overensstemmelse med Milano kommunes forpligtelse til at garantere SEA Handlings finansielle stabilitet og i tråd med den ovenfor beskrevne dokumentation for tilregnelsen af disse beslutninger til kommunen), men den mener, at en sådan strategi ikke svarer til en fornuftig privat investors adfærd.
This demonstrated the rationality of SEA’s decision to continue covering the operating losses of its subsidiary SEA Handling in order to return its ground handling business to profitability.
Selv om det kan tage adskillige år for enhver omstruktureringsproces at bære frugt, ville en fornuftig privat investor ikke blindt påtage sig en flerårig forpligtelse, men i stedet forsøge — i lyset af resultaterne af omstruktureringsprocessen og udsigterne til rentabilitet i fremtiden — at beslutte hvert år, om der skal tilføres frisk kapital til selskabet.
The Italian authorities therefore contended that the review of SEA’s strategy with regard to its subsidiary was fully justified by the unforeseen external circumstances, and in no way compromised SEA’s objective of returning its ground handling business to long-term profitability.
I det foreliggende tilfælde ville en privat investor bestemt have revurderet strategien i 2003 eller 2004, da det stod klart, at målet om en tilbagevenden til rentabilitet i 2005 ikke ville blive nået, eller i hvert fald i 2005, da det viste sig, at målet ikke var nået.
The Commission acknowledges the existence of a multiannual strategy for the coverage of losses by the Italian authorities (in accordance with the commitment given by the Municipality of Milan to guarantee the financial stability of SEA Handling, and line with the evidence set out above for the imputability of those decisions to the Municipality), but it considers that such a strategy does not correspond to the conduct of a prudent private investor.
Selv om en privat investor havde søsat en langsigtet tabsdækningsstrategi, ville denne investor, forudsat at der ikke var bindende lovkrav, have genovervejet sin strategi, når vedkommende blev bedt om at yde midler til dækning af SEA Handlings tab.
While it may take several years for any restructuring process to bear fruit, a prudent private investor would not enter blindly into a multiannual commitment, but would instead try to decide each year whether to inject fresh funds into the company in the light of the results of the restructuring process and the prospects for future viability.
Som SEA klart udtrykte i sine bemærkninger, kompromitterede de forliste forhandlinger med […] i 2002 mere specifikt muligheden for at nå målet om at vende SEA Handling til rentabilitet inden 2005.
In the present case a private investor would certainly have reassessed the strategy in 2003 or 2004, when it was evident that the objective of a return to profitability in 2005 was not going to be achieved, or in any event in 2005, when it proved that that objective had not been achieved.