natgillin/translations-raw huggingface dataset:
This negative variance remains within the safety margin provided for in the restructuring plan.
Eespool kirjeldatut arvesse võttes võib kapitalirenti pidada märgiks, et turg uskus LOTi elujõulisuse taastumisse.
Even under the worst-case scenario LOT was expected to generate accumulated cash flows of PLN [> 150] million in 2014-2018.
Komisjon märgib sellega seoses, et ta on juba aktsepteerinud kapitalirenti omapanuse nõuetekohase allikana Czech Airlinesi ja airBalticu ümberkorraldusjuhtumites [79].
Moreover, LOT has provided for further restructuring measures (not included in the restructuring plan) to amortise potential negative effects of the alternative fleet scenario.
Teatavaks tehtud omapanuse teise osa, põhivara müügi kohta teatas Poola, et seni on sellest saadud […] zlotti.
The estimated financial impact of these additional measures amounts to PLN [> 50] million p.a. and by far exceeds possible financial gap of PLN [64-78] million in 2014-2018.
Lisaks esitas Poola sõltumatud eksperthinnangud, mis kinnitavad täiendavate kinnisvaraobjektide turuväärtust […] zloti ulatuses.
According to the financial projections under the alternative fleet scenario, combined with additional restructuring measures, LOT's cash position is forecast to be even slightly better than was assumed in the restructuring plan.
Komisjon analüüsis kõnealuseid hindamisakte ega avastanud vigu.
In relation to the implementation ratio of the restructuring plan, based on the analysis above, the Commission considers the assumed implementation ratio of the restructuring measures of 85 % to be realistic.
Hindamisel oli kasutatud aktsepteeritud metoodikaid ja usutavaid eeldusi.
Furthermore, it notes that in 2013 LOT achieved 137 % of the planned restructuring benefits.
Komisjon leiab seetõttu, et hindamiste tulemused vastavad piisavalt täpselt müüdava vara ligikaudsele turuhinnale.
The Commission therefore considers that updated sensitivity analysis further demonstrates that the proposed restructuring measures are capable of restoring long-term viability of the Company.
Omapanuse allikana esitatud ülejäänud varade väärtus [80] kas ei ole tõendatud sõltumatu hindamisaktiga või muu usaldusväärse tõendiga või on hindamisakt aegunud.
Furthermore, the Commission notes that the duration of the restructuring plan is limited to three years and one quarter, running from the last quarter of 2012 till the end of 2015, which appears appropriate in the present case in view of the restructuring measures provided for in the plan, the schedule according to which they should be implemented and the first results of those measures.
Seetõttu loeb komisjon seoses kõnealuste varade müügiga aktsepteeritavaks omapanuse summas 30650928 zlotti (s.o tegelikult saadud tulu ja sõltumatute eksperthinnangutega tõendatud kavandatud tulu).
The duration is shorter than in the previously approved airline restructuring cases [76], where the restructuring period was five years.
Nende kaalutluste põhjal järeldab komisjon, et omapanus summas [1200–1600] miljonit zlotti vastab suuniste kriteeriumidele.
Finally, the Commission observes that the notified restructuring plan is dated 14 June 2013, while the restructuring process started at the end of 2012.
See summa moodustab [60–67] % ümberkorraldamise kogukulust ja ületab tunduvalt suurettevõtjate puhul nõutud 50 % suurust künnist.
Indeed, restructuring a firm in difficulty in general requires a plurality of measures, some of which may be adopted immediately and other that may need more time to be defined and implemented.
Kapitalirent üksinda moodustab [60–67] % ümberkorraldamise kogukulust ja oleks seega piisav, et nõutavale künnisele vastata.
It would be therefore counterproductive to impose that in order to be considered as part of the same restructuring process the former measures cannot be implemented as long as the latter measures are defined in all their details.
Kõige kirjeldatu põhjal järeldab komisjon, et teatatud meede vastab suunistes sätestatud kokkusobivustingimustele.
Such an embargo on the implementation of measures that could be adopted promptly would increase the difficulties of the company and the need for further State aid.
KOKKUVÕTE
Therefore, the Commission concludes that the proposed restructuring measures are capable of restoring long-term viability of the Company within a reasonable timescale and on the basis of realistic assumptions.
Komisjon järeldab, et teatatud meede on riigiabi EL toimimise lepingu artikli 107 lõike 1 tähenduses ning et see on siseturuga kokkusobiv EL toimimise lepingu artikli 107 lõike 3 punkti c alusel koostoimes suunistega.
Pursuant to points 38-42 of the Guidelines, compensatory measures must be taken to ensure that the aid's adverse effects on trading conditions are mitigated as far as possible.
Komisjon järeldab samuti, et põhjenduses 90 nimetatud lennujaamatasude edasilükkamise juhud ning põhjendustes 132 ja 133 nimetatud teised tehingud ei ole abi EL toimimise lepingu artikli 107 lõike 1 tähenduses.
The aid shall not unduly distort competition.
Komisjon märgib, et Poola nõustus käesoleva otsuse vastuvõtmise ja teatavakstegemisega inglise keeles,
This usually means a limitation of the presence which the company can enjoy on its markets at the end of the restructuring period.
ON VASTU VÕTNUD KÄESOLEVA OTSUSE:
The compensatory measures should be in proportion to the distortive effects of the aid and, in particular, to the size and relative importance of the firm on its market or markets.
Artikkel 1
The closure of loss-making activities cannot be considered as valid compensatory measures.
Riigiabi summas 804,29 miljonit zlotti, mida Poola kavatseb anda äriühingule LOT Polish Airlines S.A., on siseturuga kokkusobiv EL toimimise lepingu artikli 107 lõike 3 punkti c tähenduses.
The degree of compensatory measures must be established on a case-by-case basis and with regard to the objective of restoring the long-term-viability of the firm.
Artikkel 2
Moreover, according to point 7 of the Guidelines the Commission will request compensatory measures which minimise the effect on competitors.
Järgmised meetmed ei ole riigiabi EL toimimise lepingu artikli 107 lõike 1 tähenduses.
According to point 56 of the Guidelines, the conditions for authorising aid are less stringent as regards the implementation of compensatory measures in assisted areas.
Lennujaamatasude edasilükkamine, mida LOTile võimaldasid riigi omanduses olevad lennujaamad ajavahemikus maist 2009 aprillini 2013.
To this extent the Commission notes that LOT is located in an assisted area according to Article 107(3)(a) TFEU.
Järgmised kinnisvaratehingud:
The Commission notes that LOT is a relatively small company, facing competition from legacy carriers and LCCs.
LOTi peakorteri müük ja tagasirentimine 10. mail 2011 LOTi ja PZU/PB1 vahel sõlmitud lepingu alusel müügihinnaga […] zlotti (ligikaudu […] eurot);
Its share in the overall European passenger air transport business is estimated at below 1 %.
aadressil 17 Stycznia tn 39 asuva kinnisvara müük 31. juulil 2012 LOTi ja TF Silesia vahel sõlmitud lepingu alusel müügihinnaga […] zlotti (ligikaudu […] eurot);
It has a relatively stronger (though weakening) position on the international routes to/from Poland with a share of the business estimated at 27 %.
kaubaterminali müük 25. novembril 2011 LOTi ja äriühingu LS Airport Services vahel sõlmitud lepingu alusel müügihinnaga […] zlotti (ligikaudu […] eurot);
Therefore, the Commission considers that compensatory measures are necessary.
toitlustamisrajatiste müük 8. detsembril 2011 LOTi ja LOT Cateringi vahel sõlmitud lepingu alusel müügihinnaga […] zlotti (ligikaudu […] eurot).
Nevertheless, the relatively small size and limited market importance of LOT allow the Commission to consider that the distortive effects of the aid will be limited.
Järgmised laenulepingud:
This should also be taken into account in the assessment of the compensatory measures.
kaks laenu, mille andsid LOTile PZU kontserni kuuluvad äriühingud: esiteks 14. detsembril 2009 summas […] zlotti (ligikaudu […] eurot) ja teiseks 17. veebruaril 2010 summas […] zlotti (ligikaudu […] eurot);
As compensatory measures LOT plans to close 19 connections and to reduce frequency on 5 connections (see details in Section 3.4).
laen summas […] zlotti (ligikaudu […] eurot), mille andis LOTile PKN Orlen 28. juunil 2012;
The proposed compensatory measures correspond to a reduction of capacity by [13,5 - 16,5] % in terms of ASK as compared to the pre-restructuring period November 2011 — October 2012.
laen summas […] zlotti (ligikaudu […] eurot), mille andis LOTile TF Silesia 30. märtsil 2009;
LOT claims that none of the connections concerned was loss-making prior to restructuring.
laen summas […] miljonit zlotti (ligikaudu […] miljonit eurot), mille andis LOTile OLPP 9. märtsil 2012.
LOT calculates profitability of the routes using two measures: ‘Margin 1’ and ‘Margin 2’.
Järgmiste LOTi tütarettevõtjate müük:
Margin 1 takes into account revenue and variable costs of a route, such as, e.g. sales, passenger and flight costs.
Casinos Polandis LOTile kuulunud 33,3 % suuruse osaluse müük Viccole 8. aprillil 2013 sõlmitud lepingu alusel […] miljoni zloti (ligikaudu […] miljoni euro) eest;
Margin 2 additionally takes into account the so called ‘contribution’ (the financial impact of a route on the entire flight network of LOT) and indirect costs attributable to a route (e.g. operating lease, depreciation, fixed cost of the personnel, marketing and advertising).
Petrolotis LOTile kuulunud 49 % suuruse osaluse müük PKN Orlenile 21. detsembril 2012 sõlmitud lepingu alusel […] zloti (ligikaudu […] euro) eest;
All of the routes concerned were profitable in terms of Margin 1.
Eurolotis LOTile kuulunud 37,90 % suuruse osaluse müük TF Silesiale 27. veebruaril 2013 sõlmitud lepingu alusel [> 118 miljoni] zloti (ligikaudu [> 29 miljoni] euro) eest.
It is the Commission's practice, to consider routes as profitable if they had a positive contribution margin in the year preceding their surrender [77].
PKN Orleni ja tema t ütarettevõtja Petrolot poolt LOTile kütuse tarnimisega seotud tehingud.
The contribution margin (which corresponds to LOT's ‘Margin 1’) takes account of sales revenue and of variable costs (e.g. flight, passenger and distribution costs) attributable to each individual route.
Artikkel 3
The contribution margin is the appropriate measure since it takes into account all costs which are directly linked to the route in question.
Käesolev otsus on adresseeritud Poola Vabariigile.
Routes with a positive contribution margin not only cover the variable costs of a route, but also contribute to the fixed costs of the company.
Brüssel, 29. juuli 2014
It is a normal business practice to continue operations which cover variable costs in the short to medium term.
Komisjoni nimel
Fixed costs in principle do not change with the volume of operations and have to be borne whether a connection is operated or not.
Joaquín Almunia
Therefore, it is more beneficial for an airline to keep such connection, as long as it covers at least part of fixed costs, than to abandon it.
Alates 1. detsembrist 2009 muutusid EÜ asutamislepingu artiklid 87 ja 88 vastavalt Euroopa Liidu toimimise lepingu artikliteks 107 ja 108.
This has been implicitly acknowledged by one of the interested parties who commented that measuring profitability on the variable cost-only basis is inappropriate for long-term considerations.
Mõlemal juhul on artiklid sisult identsed.
On the basis of the above, the Commission concludes that the routes in question constitute appropriate compensatory measures since they were not loss-making prior to the restructuring.
Käesolevas otsuses tuleb viiteid Euroopa Liidu toimimise lepingu artiklitele 107 ja 108 käsitada vajaduse korral vastavalt viidetena Euroopa Ühenduse asutamislepingu artiklitele 87 ja 88.
Concerning the allegation of the interested party that owing to State aid LOT has increased its capacity on the Polish charter market, the Commission observes first that so far LOT has only received the rescue aid which was entirely used to repay overdue liabilities and to cover a cash deficit from operating activities in the rescue period.
Euroopa Liidu toimimise lepinguga tehti terminoloogiasse teatavaid muudatusi: „ühendus” asendati „liiduga” ja „ühisturg” „siseturuga”.
Therefore, LOT did not have any surplus State aid available to finance the alleged expansion on the charter market.
Käesolevas otsuses kasutatakse läbivalt Euroopa Liidu toimimise lepingu terminoloogiat.
The future restructuring aid is not planned to be spent for this purpose either but exclusively to finance the restructuring measures.
Komisjoni otsus C(2013) 7044 (final), 6. november 2013, milles käsitletakse juhtumit nr SA.36874 (ELT C 37, 7.2.2014, lk 55).
Secondly, LOT has not increased its capacity on the Polish charter market.
Vt allmärkus nr 2.
On the contrary, LOT has reduced its presence on the growing Polish charter market from [> 3] % in 2012 to [< 1,5] % in 2013 (historically LOT had much stronger position with [> 15] % market share in 2010).
Komisjoni otsus C(2013) 2747 (final), 15. mai 2013, milles käsitletakse juhtumit nr SA.35900 (ELT C 204, 18.7.2013, lk 4).
LOT's activities on the charter market are temporary and are undertaken only with the aim to ensure efficient utilisation of its fleet, as was envisaged in the restructuring plan.
ELT C 115, 9.5.2008, lk 92.
LOT has no plans to continue its presence on the charter market after the expiration of the restructuring period.
Nõukogu määrus nr 1, millega määratakse kindlaks Euroopa Majandusühenduses kasutatavad keeled (EÜT 17, 6.10.1958, lk 385).
Thirdly, charter activity is marginal to LOT, constituting only [< 1] % of its activity.
Komisjoni otsus C(2012) 8212 (final), 20. november 2012, milles käsitletakse juhtumit nr SA.33337 (ELT C 81, 20.3.2013, lk 4).
The Guidelines require capacity reduct ion on the main market, i.e. in LOT's case — scheduled flight services.
Täistööajale taandatuna.
In summary, the overall level of capacity reduction resulting from compensatory measures offered by LOT amounts to [13,5-16,5] % and is larger than the level the Commission accepted in the afore-mentioned airline restructuring cases, i.e. Czech Airlines and Air Malta.
Ärisaladus.
It is also worth noting that the actual capacity reduction recorded by LOT in 2013 was 1,6 percentage points higher than planned.
Ettevõtja peamised investeeringust väljumised 2009. aasta juunist 2013. aasta aprillini.
In addition, the Commission observes that LOT has cancelled a number of routes operating from the fully coordinated [78] airports of Frankfurt, Munich, Dusseldorf, Vienna, Zurich, Helsinki, Paris, Nice, Rome, Amsterdam and Stockholm.
Lühi- ja pikaajalised kohustused.
As a result, slots pairs at those airports have been released, which creates new business opportunities for competing airlines to operate routes to and from these airports and to increase their presence in them.
Nt kui lennuaeg New Yorgist Varssavisse langeb alla kaheksa tunni, võib nõutavat pilootide arvu vähendada kolmelt kahele, kui teatavad muud tingimused on täidetud.
In view of the above, the proposed compensatory measures are sufficient to ensure that the State aid's adverse effects on trading conditions are minimised.
Siiani kohaldati reisijatele eraldi tariifi juhul, kui nad lendasid tagasi varem kui kolm päeva pärast väljumist; uue tariifi puhul loetakse reisijat ärireisijaks juhul, kui ta lendab tagasi varem kui esimesel pühapäeval pärast saabumist.
Consequently, the proposed compensatory measures comply with points 38-42 of the Guidelines.
Äriühingu kohaselt on Varssavi Chopini lennujaama tasud (sealhulgas maandumis- ja võimalik, et ka starditasud, keskkonnatasud, reisiplatvormide ehk sildtrappide kasutamise tasud, parkimistasud ja muud lennundustegevusega seotud taristukulud) 2–47 % kõrgemad kui võrreldavates ELi lennujaamades.
According to points 43-45 of the Guidelines, the aid must be limited to the strict minimum, necessary to enable the restructuring to take place.
Lendudevõrguga ja lennukipargi ajakohastamisega seotud meetmete rakendamine avaldab positiivset mõju ka teistele ümberkorraldusvaldkondadele ja osa selle finantsmõjust sisaldub nende finantspotentsiaalis.
The beneficiary is expected to make a significant contribution to the restructuring plan from its own resources, including the sale of assets not essential to the company's survival, or from external financing at market conditions.
Seetõttu ei saa lendudevõrguga ja lennukipargi ajakohastamisega seotud meetmete mõju liita ülejäänud ümberkorraldusmeetmete mõjuga.
Such contribution must be real, i.e. actual, excluding all future profits such as cash flow and is a sign that the markets believe in the feasibility of the return to viability of the company.
Iga lennuki jaoks luuakse omaette eriotstarbeline majandusüksus; seda teeb sellistele tehingutele spetsialiseerunud äriühing Wells Fargo Delaware Trust Company, mille valis välja LOT.
For a large enterprises, such as LOT, the share of own contribution must be at least 50 % of restructuring cost.
Eriotstarbeline majandusüksus jääb lennuki omanikuks ja osutab eriteenuseid kõikidele tehingu osalistele.
LOT's declared own contribution amounts to PLN [1200-1600] million and accounts for [60-67] % of the restructuring costs.
Lennukite rahastamise põhimõtted, mis olid lennuettevõtluses üldkasutatavad kuni 2007. aastani, kui need asendati OECD raames sõlmitud kokkuleppega „Aircraft Sector Understanding” (õhusõidukite sektori kokkulepe).
It consists of: (i) the finance lease of the B787 in the amount of PLN […] million and (ii) the sale of fixed assets planned to generate PLN […] million.
Kuna LOT alustas B787 tüüpi lennukite ostmist enne 2007. aastat, kehtisid veel LASU eeskirjad.
The finance lease was provided by a private US bank […] to finance the acquisition of five B787 aircraft.
Ühendused, mis suletakse: […]; ühendused, millel vähendatakse sagedust: […].
It is secured, amongst others, by the guarantee of the Ex-Im Bank and pledges on the aircraft.
Ühenduse suunised raskustes olevate äriühingute päästmiseks ja ümberkorraldamiseks antava riigiabi kohta, ELT C 244, 1.10.2004, lk 2.
According to the Guidelines, an own contribution can come from ‘external financing on market conditions’.
Ajavahemikul 22. maist 2009 kuni 10. aprillini 2013 sõlmis LOT riigi omanduses olevate lennujaamadega 23 lepingut lennujaamatasude tähtaja edasilükkamiseks kogusummas ligikaudu [285–349] miljonit zlotti (ligikaudu [70–85] miljonit eurot); nende hulgas oli üheksa lepingut Varssavi lennujaamaga, kolm lepingut Gdanski, Krakówi, Poznańi ja Katowice lennujaamadega ja kaks lepingut Wrocławi lennujaamaga.
The present finance lease meets this requirement.
St tähtaega lükati edasi 48–396 päeva, viivis oli enamasti Poola seadusjärgsest määrast madalam ja kolmes lepingus ei olnud viivist üldse ette nähtud ning tagatis oli tihti nõrk, nt blankoveksel; kuue edasilükkamislepingu puhul ei olnud tagatist üldse.
First, it has been provided by a private bank.
Kohtuasi C-482/99, Prantsuse Vabariik vs. komisjon (Stardust Marine), EKL 2002, I-4397.
Secondly, LOT chose the offer of […] in a competitive procedure from 24 commercial bids it received from the market.
Ametlik väljaanne 1987, nr 33, jaotis 185 ja selle muudatused.
Thirdly, leasing of aircraft is a standard form of financing (including the type of collateral) in the airline industry, used also by LOT's competitors.
Gdanski, Krakówi ja Poznańi piirkondlikud lennujaamad on osaühingud ning Katowice ja Wrocławi piirkondlikud lennujaamad on aktsiaseltsid.
According to information provided by Poland, in the last three years several EU airlines acquired aircraft with ECA guarantees, including Air France, British Airways, Lufthansa, Norwegian, KLM.
15. septembri 2000. aasta äriühingute koodeks; konsolideeritud versioon: ametlik väljaanne 2013, jaotis 1030.
In 2012 approximately 30 % of aircraft financing transactions worldwide were concluded with participation of ECA.
Kriis tõi kaasa suure languse lennutranspordi nõudluses koos lennuettevõtjate kulude suurenemisega, vt Poola 2009. aasta lennutranspordituru analüüs (tsiviillennuamet 2010) ja tulemuslikkuse hindamise aruanne „Hinnang lennuliikluse korraldamise kohta Euroopas 2010. kalendriaastal” (Eurocontrol 2011).
Finally, the financing covers only a part of the purchase price of an aircraft ([75-90] %) while the rest must be paid by LOT.
2009.–2013. aastal andis LOT ligikaudu 40 % Varssavi lennujaama tulust.
On the other hand, the Guidelines stipulate that the own contribution ‘…is a sign that the markets believe in the feasibility of the return to viability’.
Piirkondlike lennujaamade edasi lükatud tasude kogusumma moodustas keskmiselt 17,7 % äriühingu ja kõnealuste lennujaamade vahelisest käibest.
Given the high quality of the collateral and apparently little or no default risk, the Commission expressed reservation in the opening decision whether the present lease can be regarded as a proof that markets believe in the restoration of LOT's long-term viability.
See oleks eriti märgatav Varssavi lennujaama puhul.
Poland provided additional clarification and evidence to address this concern.
Kuna LOT on ainus lennuettevõtja, kelle baaslennujaam on Varssavi lennujaam, põhjustaks tema tegevuse lõppemine seal märkimisväärse languse lennujaama käibes.
Prior to granting the guarantee Ex-Im Bank performed due diligence and analysed LOT's financial standing and operations.
Poola toob selle tõenduseks asjakohased andmed sarnaste olukordade kohta, mis on tekkinud Zürichi lennujaamas, Brüsseli Zaventemi lennujaamas ja Budapesti lennujaamas.
It concluded that LOT had a viable business model and would be able to repay the lease in the long term.
Keskmine nõuete väljamaksmise määr maksejõuetusmenetlustes lennujaamatasude edasilükkamise ajal oli Poolas tehtud uuringute järgi ligikaudu 15–17,75 % ja Maailmapanga statistika järgi ligikaudu 34 %.
Furthermore, the fact that 24 private companies offered different terms of financing for the same transaction indicates that, despite the high-quality collateral, they still considered that the financing of LOT involved certain risk (otherwise all bidders would have offered the same risk-free rate).
Nt Varssavi lennujaamaga sõlmitud edasilükkamislepingutes kehtestatud intressimäär oli […] % aastas.
A rational market creditor would assess this risk and take LOT's viability into account as it is a key factor influencing debtor's ability to repay the lease.
Seadusjärgseks viiviseks on Poolas kehtestatud praegu 13 %.
In addition, one of the bidders offered financing without the ECA guarantee which shows that the market was ready to offer the financing even in the absence of any ECA intervention.
Mis moodustas 26,4 % edasilükatud summast.
Based on the analysis conducted by an external consultant LOT chose the offer of […] as more competitive.
Maailmapanga andmete kohaselt (http://www.doingbusiness.org) oli keskmine võlgnevuste kohtu kaudu väljanõudmise aeg Poolas 2009.–2012. aastal 830 päeva (üle kahe aasta ja kolme kuu), langedes 2013. aastal 685 päevale.
LOT's risk was also evaluated by the US capital market where in 2013 the lease was successfully refinanced from the initial funding structure based on the mechanism of a loan to a funding structure based on the issuance of bonds.
Maailmapanga andmetel võtavad maksejõuetusmenetlused Poolas keskmiselt kolm aastat (http://www.doingbusiness.org).
The bonds were acquired by private investors who accepted the associated risk and thus tacitly expressed their belief that the underlying lease obligations will be settled.
Neid järeldusi toetab 94 maksejõuetusjuhtumist koosneval valimil põhinev uuring (avaldatud 2009. aastal), mis näitab, et maksejõuetusmenetluste keskmine pikkus on 3,5 aastat (Andmed: D. Baran, „Efektywność postępowań upadłościowych” [ „Maksejõuetusmenetluste tõhusus”] väljaandes E. Mączyńska (toim), „Meandry upadłości przedsiębiorstw.
It is a normal market practice for lessors to minimise risk by seeking the highest-quality collateral and possibly a guarantee.
Klęska czy druga szansa” [ „Äriühingu maksejõuetuse labürindi läbimine.