natgillin/translations-raw huggingface dataset:
‘… Decisions shall be taken by the Board of Directors by a simple majority of votes, except for decisions concerning the following matters, which shall also require the agreement of all category C directors:
Kassavirrat, jotka vuoden 2001 toimenpiteen odotettiin tuottavan
any amendment to the Business Plan;
Ryanairin lähtevien matkustajien määrä
the adoption of new business plans on the expiry of the Business Plan 2009-2012 and any amendment to such plans;
Lähtevien matkustajien kokonaismäärä
any decision deviating from the current business plan without formally amending it;
Tulot lähtevää matkustajaa kohti
the adoption of the Company's annual budget (particularly with regard to developments, investments, projects, studies, equipment, indirect and staff costs) and any amendment to the budget exceeding EUR 100000;
Matkustajamaksu
the proposal to amend the dividend policy, to be submitted to the general meeting;
Matkustajavero
the approval of any contract or agreement between the Company and the Walloon Region or any company directly or indirectly controlled by the latter;
Polttoaine
the relationship between the Company and Ryanair;
[0,3–0,7]
the appointment and removal of the Chief Executive Officer;
Verovapaa myynti
any company decision concerning or involving facts stated in a complaint submitted by Belgian Airports to SOWAER in accordance with the Share Sale Agreement;
[3–4]
any decision concerning the relationship between BSCA and BSCA Security in terms of security; and
Muut myymälät
the conclusion, amendment of terms, termination or abandonment of any joint venture or strategic collaboration other than with the Shareholders of Save or associated companies’.
Hotellit ja ravintolat
The Commission concludes that, at the time when the 2010 amendment was concluded, no major decision on the management of BSCA's affairs could have been taken without the approval of Belgian Airports.
[2–4]
BSCA was therefore under the joint control of its private and public shareholders and, as a result, was not under the dominant influence of the public shareholders alone.
Maahuolinta
In this respect, it should be noted that Belgian Airports' right of veto covered the relationship between BSCA and Ryanair (see point (iv) of recital 495).
Myyntikomissiot
Without the approval of Belgian Airports, BSCA was therefore unable to implement any instructions from the public authorities on the conclusion of the 2010 amendment.
[14–17]
Moreover, an examination of the minutes of the Board of Directors' meetings on the conclusion of the 2010 amendment, particularly the minutes of the meetings of 25 February and 29 April 2010, does not reveal the existence of any such instructions.
Kustannukset lähtevää matkustajaa kohti
During its meeting on 25 February 2010, BSCA's Board of Directors unanimously approved the proposed agreement with Ryanair.
Markkinointimaksu
The Commission therefore concludes that BSCA's decision to conclude the 2010 amendment to the contract with Ryanair is not imputable to the State.
Ostot verovapaata myyntiä varten
In order to determine whether a State measure constitutes aid, it is necessary to establish whether the recipient undertaking receives an economic advantage that it would not have obtained under normal market conditions [190].
[1,5–2,5]
In order to determine whether (i) the 2001 agreements, (ii) the Ministerial Order of 11 June 2004 and the BSCA letter of 24 June 2004, (iii) the 2005 amendment and (iv) the sale by BSCA of its shares in Promocy have given an advantage to Ryanair, the Commission has examined whether, in adopting these measures, the entity having granted them acted as a market economy operator.
Ympäristörahasto
Determination of the entity having granted the measures
Muut tavarat ja palvelut
In paragraph 102 of its judgment of 17 December 2008 on the 2004 decision, the General Court concluded that ‘the Commission's refusal to examine together the advantages granted by the Walloon Region and by BSCA and to apply the private investor principle to the measures adopted by the Walloon Region in spite of the economic links binding those two entities is vitiated by an error in law’.
Palkat ja sosiaaliturvamaksut
In order to apply the market economy operator test to (i) the 2001 agreements, (ii) the Ministerial Order of 11 June 2004 and the BSCA letter of 24 June 2004, (iii) the 2005 amendment and (iv) the sale by BSCA of its shares in Promocy, the Commission will therefore consider, given the economic and functional links between the Region/SOWAER and BSCA at the time when these measures were granted [191], that the entity having granted the measures is the group consisting of the Region, SOWAER and BSCA (hereinafter ‘Region-SOWAER-BSCA’).
[4–5]
Consequently, the two 2001 contracts must be regarded as a single measure (hereinafter ‘the 2001 contracts’).
[10–13]
Likewise, the Ministerial Order of 11 June 2004 and the BSCA letter of 24 June 2004 (hereinafter ‘the 2004 provisional commercial framework’) must be regarded as a single measure.
”Markkinointimaksu”
Furthermore, in order to apply the market economy operator test, the cash flows between the three entities will be ignored and their accounts will be consolidated.
[10–14]
In order to determine whether the measures defined in Section 3.2 pass the market economy operator test, the Commission has examined, in accordance with point 53 of the aviation guidelines [192], if:
Tulot yhteensä lähtevää Ryanairin matkustajaa kohti
the price charged for the airport services corresponds to the market price; or
Kustannukset yhteensä lähtevää Ryanairin matkustajaa kohti
it can be demonstrated through an ex ante analysis that the agreements with Ryanair were intended to lead to a positive incremental profit contribution for the group consisting of the Region-SOWAER-BSCA.
Lisävaikutus lähtevää Ryanairin matkustajaa kohti
Comparison of the prices charged for airport services at Charleroi with the market price
[1,5–5,5]
The Commission has strong doubts that, at the present time, an appropriate benchmark can be identified to establish a true ‘market price’ for services provided by airport managers.
Ryanairin lisävaikutus yhteensä (miljoonaa euroa)
The application of the market economy operator test using an average price observed in other similar markets may prove conclusive where a market price can be reasonably identified or deduced from other market indicators.
[0,5–4]
However, this method may not be as relevant in the case of airport services.
Koska Ryanairin lisävaikutus on positiivinen kaikkina tarkasteltuina vuosina, sopimuksen nettonykyarvo on väistämättä positiivinen pääomakustannusten painotetusta keskiarvosta riippumatta.
The revenue and cost structure tends to differ significantly from airport to airport.
Komissio on kuitenkin asian havainnollistamiseksi laskenut nettonykyarvon 8,7–9 prosentin keskikustannusten perusteella.
These costs and revenues depend on the airport's state of development, number of airlines operating from/to the airport, available capacity in terms of passenger traffic, state of the infrastructure, the regulatory burden, which may vary from Member State to Member State, and historical debts and obligations of the airport [193].
Sopimusten nettonykyarvon laskennassa käytetty diskonttokorko on tuen myöntäneen tahon pääomakustannusten painotettu keskiarvo tuen myöntämishetkellä.
Moreover, the liberalisation of the air transport market complicates any comparative analysis.
Tarkasteltavassa tapauksessa Ryanairin kanssa tehtyyn sopimukseen liittyvät tulot ja maksut vaikuttavat BSCA:n tileihin.
As the present case amply demonstrates, commercial arrangements between airports and airlines are not necessarily based on a list of public prices for individual services.
Komissio on siksi valinnut diskonttokoroksi BSCA:n pääomakustannukset.
These commercial relationships vary widely.
BSCA:n pääomakustannusten painotettu keskiarvo on laskettu seuraavien hypoteesien perusteella:
They include the sharing of risks in terms of traffic and of correlative commercial and financial responsibilities, the generalised use of incentive mechanisms (for example, in the form of discounts connected with the number of links or passengers carried), and variations in the distribution of risk over the term of contracts.
rahoitus yksinomaan omilla varoilla;
As a result, it is difficult to compare transactions based on a price per rotation or per passenger.
riskipreemio on 5,51 prosenttia [200];
Ryanair cites a study by Oxera from 2 October 2011, which proposes Glasgow Prestwick and Liverpool John Lennon airports as comparators.
verokanta 40,2 prosenttia.
However, the Commission has strong doubts that these two benchmarks are relevant for assessing the situation of Charleroi airport, given that the revenue structure of Glasgow Prestwick airport is heavily based on cargo, which does not exist at Charleroi.
Komissio on esimerkissään käyttänyt diskonttokorkoa, joka on keskimäärin 8,7–9 prosenttia eli 8,85 prosenttia, ja laskenut tämän perusteella, että nettonykyarvo on positiivinen ja määrältään 19,5 miljoonaa euroa.
Moreover, both airports have apparently received public funding in recent years.
Taulukko 22
In addition, as indicated above, the transactions to be analysed consist of several ‘prices’, i.e. in particular the various airport charges, the price of ground handling services and, for certain measures, the contributions to Promocy for marketing activities.
Vuoden 2001 toimenpiteen nettonykyarvo
Each of these transactions therefore leads to a complex set of cash flows between the airport manager and the airline and its subsidiaries.
Diskonttokorko (8,85 %)
Accordingly, a comparison between just the airport charges invoiced by BSCA to Ryanair and the airport charges invoiced at the comparison airports would not provide any useful indication as to compliance with the market economy operator principle.
Nettonykyarvo
At the very least, in order to validly compare the transactions covered by this assessment, it would be necessary to identify, for the airports in the comparison sample, a set of comparable transactions, which must particularly include equivalent marketing services and equivalent ground handling services.
Tämä positiivinen nettonykyarvo ja jokavuotinen positiivinen vaikutus osoittavat, että vuoden 2001 sopimusten voitiin odottaa lisäävän Vallonia-Sowaer-BSCA:n kannattavuutta.
Identifying such a sample of comparable transactions would prove impossible, given that the transactions covered by this assessment are so complex and specific, and all the more so as the prices of ground handling services and marketing services are rarely made public and would be difficult to obtain in order to form a basis for comparison.
Vallonian alue oli sitoutunut korvaamaan Ryanairille tappiot, joita tälle voisi aiheutua lentoasemaverojen tason tai lentoaseman aukioloaikojen mahdollisista muutoksista vuosina 2001–2016.
Lastly, assuming that it could be established, based on a valid comparative analysis, that the ‘prices’ applied in the various transactions covered by this assessment were equivalent to or higher than the ‘market prices’ established using the sample of comparison transactions, the Commission could not, however, conclude that those transactions corresponded to the market price if it proved that, on their conclusion, the airport manager may have expected them to lead to incremental costs higher than the incremental revenues.
Komissio toteaa, ettei kyseinen korvaus saanut ylittää Ryanairille muutoksista todellisuudessa aiheutuneita tappioita.
A market economy operator would not in fact be interested in offering goods or services at the ‘market price’ if this led to an incremental loss.
Jos Vallonian alue maksaisi Ryanairille korvauksia tämän määräyksen perusteella, Ryanairin tilanne ei näin ollen olisi parempi kuin se olisi ollut, jos Vallonian alue olisi noudattanut sitoumuksiaan.
The Commission considers it appropriate to reiterate in the context of this analysis that, following the adoption of the aviation guidelines, both Belgium and the interested parties were invited to submit comments on the application of those guidelines to the present case.
Määräyksellä ei siis annettu Ryanairille lisäetua.
In the event, neither Belgium nor the interested parties, except for Ryanair, disputed in substance the Commission's approach according to which, where an appropriate benchmark cannot be identified to establish a true market price for the services provided by airports to airlines, the most relevant criterion for assessing the arrangements concluded between these two parties is an ex ante incremental profitability analysis.
Ilmailusuuntaviivojen 66 kohdan mukaisesti kyseiset sopimukset olivat lisäksi osa sellaisen kokonaisstrategian täytäntöönpanoa, jonka odotettiin johtavan kannattavaan toimintaan vähintään pitkällä aikavälillä.
Ex ante analysis of the profitability of measures
BSCA:n strategiana oli kehittää Charleroin lentoaseman liikennettä, jotta se voisi kasvattaa tulojaan ja siten paremmin kattaa kiinteät kulunsa ja tehdä toiminnasta kannattavaa.
In the light of the above, the Commission considers that the approach generally recommended in the aviation guidelines for applying the market economy operator test to relationships between airports and airlines, namely the ex ante incremental profitability analysis, must be applied to the present case.
Tätä varten BSCA päätti erikoistua lyhyisiin ja keskipitkiin point-to-point-lentoihin ja etenkin halpalentoihin.
This approach is justified by the fact that an airport manager may have an objective interest in concluding a transaction with an airline where it may reasonably expect this transaction to improve its profits (or reduce its losses) compared to a counterfactual situation in which this transaction is not concluded [194], regardless of any comparison with the conditions offered to airlines by other airport managers, or even with the conditions offered by the same airport manager to other airlines.
Strategia perustui selvityksiin, joita BSCA oli tilannut ulkopuolisilta konsulteilta 1990-luvun lopussa.
As stated by point 63 of the aviation guidelines, ‘The Commission considers that arrangements concluded between airlines and an airport can be deemed to satisfy the MEO test when they incrementally contribute, from an ex ante standpoint, to the profitability of the airport.
Eräiden selvitysten [201] mukaan Charleroin lentoaseman mahdollisuudet kehittää tätä segmenttiä olivat hyvät, koska sen kustannukset olivat alhaiset.
The airport should demonstrate that, when setting up an arrangement with an airline …, it is capable of covering all costs stemming from the arrangement, over the duration of the arrangement, with a reasonable profit margin on the basis of sound medium-term prospects’ [195].
BSCA:n 31 päivänä heinäkuuta 2001 päivätyn strategia-asiakirjan mukaan sen tavoitteena oli 2,5–3 miljoonaa matkustajaa [202] vuoteen 2010 mennessä, mikä asiakirjan mukaan ”ei vaikuta utopistiselta, kun otetaan huomioon, että Ryanair on ottanut Charleroin kotikentäkseen ja lentoliikenne on kasvussa”.
The Commission stresses that the criterion indicated in point 63 of the aviation guidelines reflects the logic of the market economy operator test, but that this criterion, which refers to the arrangements concluded between specific airports and airlines rather than to a general business plan as is usually the case when applying the market economy operator test, has only recently been introduced.
Vuoden 2001 sopimukset olivat näin ollen osa tätä liikenteen ja tulojen kasvuun tähtäävää strategiaa.
Consequently, the Commission admits that it may be difficult for Member States and the operators concerned to provide documents dating from the moment when the measure was granted and precisely meeting the requirements in point 63 of the aviation guidelines, where these arrangements were concluded some years previously.
Koska markkinataloustoimijaa koskeva kriteeri täyttyy, vuoden 2001 sopimukset eivät ole valtiontukea.
The Commission will take these considerations into account when applying the market economy operator test to the agreements with Ryanair.
Vuoden 2004 tilapäiset kaupalliset puitteet
According to point 64 of the aviation guidelines, ‘In order to assess whether an arrangement concluded by an airport with an airline satisfies the MEO test, expected non-aeronautical revenues stemming from the airline's activity should be taken into consideration together with airport charges, net of any rebates, marketing support or incentive schemes.
Sen ratkaisemiseksi, paransivatko vuoden 2004 kaupalliset puitteet ennakolta tarkasteltuna tuen myöntäjän kannattavuutta ilmailusuuntaviivojen 63 kohdan mukaisesti, komissio on selvittänyt, onko vuoden 2004 kaupallisten puitteiden nettonykyarvo positiivinen Vallonia-Sowaer-BSCA:lle.
Similarly, all expected costs incrementally incurred by the airport in relation to the airline's activity at the airport should be taken into account … In contrast, costs which the airport would have to incur anyway independently from the arrangement with the airline should not be taken into account in the MEO test’ (the footnotes have not been reproduced).
Vuoden 2004 kaupallisten puitteiden hyväksymispäätöksen vaihtoehtoisessa skenaariossa sopimus Ryanairin kanssa jäisi tekemättä ja Ryanairin liikenteeseen liittyvät lisätulot ja -kustannukset toteutumatta.
Furthermore, according to point 66 of said guidelines, ‘When assessing airport/airline arrangements, the Commission will also take into account the extent to which the arrangements under assessment can be considered part of the implementation of an overall strategy of the airport expected to lead to profitability at least in the long term’ [196].
BSCA päivitti liiketoimintasuunnitelmansa 22 päivänä tammikuuta 2004 eli ennen vuoden 2004 kaupallisten puitteiden hyväksymistä.
The Commission has therefore applied the market economy operator test to the following measures, in line with the principles set out above:
Belgian mukaan 22 päivänä tammikuuta 2004 päivätty liiketoimintasuunnitelma laadittiin vuoden 2004 päätöksen jälkeen Ryanairille esitettävän uuden ehdotuksen hyväksymistä varten.
2001 contracts
Tämä liiketoimintasuunnitelma kuitenkin kattoi Ryanairin tuottamasta liikenteestä syntyvien tulojen lisäksi muiden lentoyhtiöiden tuottamasta liikenteestä syntyvät tulot.
In order to determine whether the 2001 contracts contributed, from an ex ante point of view, to the profitability of the entity having granted the aid, in accordance with point 63 of the aviation guidelines, the Commission has assessed whether the net present value (hereinafter ‘NPV’) of the 2001 contracts was positive for the entity Region-SOWAER-BSCA.
Lisäksi siinä mainittiin vain BSCA:n tulot ja kustannukset, vaikka markkinataloustoimijaa koskevaa kriteeriä sovellettaessa on otettava huomioon, että vuoden 2004 tilapäiset kaupalliset puitteet Ryanairin kanssa hyväksyi Vallonia-Sowaer-BSCA.
Prior to the 2001 agreements, BSCA drew up a business plan.
Sama koskee investointiohjelmaan vuonna 2003 tehtyä tarkistusta, joka perustui samaan lentoaseman kehittämisstrategiaan, mutta lisäksi tavoitteena oli, jos mahdollista, monimuotoisempi asiakaskunta eli uusia lentoyhtiöitä.
However, on the one hand, this business plan covered not only the revenue received from the traffic generated by Ryanair, but also the revenue received from the traffic generated by other airlines.
Komissio toteaa tämän perusteella, ettei ole aiheellista kohdentaa lisäinvestointikustannuksia vuoden 2004 tilapäisiin kaupallisiin puitteisiin.
On the other hand, it identified the revenue and costs of BSCA only, whereas, in order to apply the market economy operator test, it should be considered that the entity that concluded the 2001 contracts with Ryanair was the entity Region-SOWAER-BSCA.
Komissio on näiden hypoteesien perusteella katsonut, että vuoden 2004 kaupallisten puitteiden kannattavuutta voidaan analysoida seuraavien kassavirtojen perusteella:
This business plan can therefore be used as a source of information, but must be reworked so that it can be used to apply the market economy operator test.
Taulukko 23
The Commission has therefore recreated what would have been a business plan produced by the entity Region-SOWAER-BSCA in order to assess the expected profitability of these contracts, with only the revenue and costs of the incremental economic activities associated with these contracts being included.
Kassavirrat, jotka vuoden 2004 toimenpiteen odotettiin tuottavan
To this end, the Commission started with BSCA's general business plan (i.e. covering all the airport's activities and not just the specific effect of the 2001 contracts), as available prior to the conclusion of the 2001 contracts.
[0,05–0,15]
Using this general business plan, the Commission constructed an incremental business plan including only the incremental economic activities (i.e. taking into account only the revenue and costs associated with Ryanair's traffic), by isolating the incremental traffic, costs and revenue to be expected from the contracts with Ryanair on their conclusion [197].
Myyntikonsessiot
The Commission then created a business plan for the entity Region-SOWAER-BSCA by adding the incremental costs and revenue of the Region and SOWAER associated with these contracts and by neutralising the internal flows within the entity Region-SOWAER-BSCA.
[5–9]
Expected incremental costs
[14–20]
Expected incremental investment costs
[9,5–11,5]
In order to determine whether part of the investment costs should be taken into account in the expected incremental investment costs due to the 2001 contracts, the Commission examined, in accordance with point 64 of the aviation guidelines, whether the investment programme for Charleroi airport was decided in connection with the 2001 contracts or independently from those agreements.
Toiminnan käynnistämiskustannukset
The Commission found that, at the end of the 1990s, i.e. before the 2001 contracts were signed, the Region wanted to develop the airport in order to boost economic activity within its territory.
[3–9]
Accordingly, in its regional policy declaration approved on 15 July 1999, the Walloon Parliament recognised that the regional airports constituted important centres of economic development and job creation for the Walloon Region [198].
[3–11]
In a note of 8 November 2000 to the Walloon Government (this note was intended to inform the Walloon Government with a view to a decision approving the investment programme), the minister with responsibility for the economy stressed that it was vital, ‘in order to allow the airport to play its role as a regional economic lever, to equip it with a complete infrastructure in the context of its comprehensive development’.
Näistä kassavirroista ilmenee, että Ryanairin lisävaikutus oli positiivinen kaikkina tarkasteltuina vuosina.
According to Belgium, at the end of the 1990s (and therefore before the 2001 agreements), due to technical constraints associated with the existing infrastructure [199], it was clear that a new terminal needed to be built in the northern part of the site.
Kaupallisten puitteiden nettonykyarvo on siksi väistämättä positiivinen pääomakustannusten painotetusta keskiarvosta riippumatta.
The Region had itself compulsorily purchased further land during the 1990s, and in 1999 Igretec transferred to the Region the land that it had purchased.
Komissio on kuitenkin asian havainnollistamiseksi määrittänyt diskonttokoron, jonka perusteella voidaan laskea vuoden 2004 toimenpiteen nettonykyarvo.
It was on this land that the new passenger terminal was built.
Tämä diskonttokorko on tuen myöntäneen tahon pääomakustannusten painotettu keskiarvo tuen myöntämishetkellä.
During a session on 20 July 2000, the Region approved the outlines of a framework agreement on a multiannual investment programme for Charleroi airport, referring in particular to the ‘concept of a new passenger terminal’, with a total budget of EUR 113740000.
Kuten johdanto-osan 538) kappaleessa todetaan, komissio on käyttänyt laskelmassa BSCA:n pääomakustannusten painotettua keskiarvoa.