natgillin/translations-raw huggingface dataset:
It also follows from the Ryanair studies of 17 and 31 January 2014 that the generation of benefits going beyond the air routes covered by marketing services agreements or lasting after the period of their implementation for these routes, as set out in the marketing services agreements and airport services agreement, was extremely uncertain and could not be quantified with a degree of reliability that would be considered sufficient by a prudent MEO.
Iz studija društva Ryanair od 17. i 31. siječnja 2014. može se zaključiti i da je stvaranje koristi koje nadilaze zračne linije obuhvaćene sporazumima o marketinškim uslugama ili koje traju nakon razdoblja njihove provedbe za te linije, kako je utvrđeno u sporazumima o marketinškim uslugama i sporazumu o uslugama zračne luke, bilo vrlo nesigurno i da se nije moglo kvantificirati s onim stupnjem pouzdanosti koji bi razuman subjekt u tržišnom gospodarstvu smatrao dovoljnim.
Thus, for example, according to the study of 17 January 2014, ‘future incremental profits beyond the scheduled expiry of the airport services agreement are inherently uncertain’.
Tako je, primjerice, prema studiji od 17. siječnja 2014. „buduća dodatna dobit nakon predviđenog isteka sporazuma o uslugama zračne luke sama po sebi nesigurna”.
Moreover, that study suggests two methods for evaluating the positive effects of marketing service agreements: a ‘cash flow’ approach and a ‘capitalisation’ approach.
Osim toga, u studiji su navedene dvije metode procjene pozitivnih učinaka sporazuma o marketinškim uslugama: pristup „novčanog toka” i pristup „kapitalizacije”.
The ‘cash flow’ approach involves evaluating the benefits of marketing services agreements and airport services agreements by assessing the future revenues which may be generated by the airport operator through marketing services and the airport services agreement, minus corresponding costs.
Pristup „novčanog toka” znači da se koristi od sporazuma o marketinškim uslugama i sporazuma o uslugama zračne luke procjenjuju tako što se procijene budući prihodi koje bi upravitelj zračne luke mogao ostvariti na temelju marketinških usluga i sporazuma o uslugama zračne luke i od njih potom oduzmu odgovarajući troškovi.
In the ‘capitalisation’ approach, improvement of the brand image of the airport through marketing services is treated as an intangible asset, acquired for the price laid down in the marketing services agreement.
U pristupu „kapitalizacije” poboljšanje imidža trgovačke marke zračne luke putem marketinških usluga smatra se nematerijalnom imovinom kupljenom po cijeni utvrđenoj u sporazumu o marketinškim uslugama.
However, the study highlights the major difficulties presented by the ‘capitalisation’ approach and shows that the results produced by this method may be unreliable; it suggests that the ‘cash flow’ approach would be better.
Međutim, u studiji su istaknute glavne poteškoće koje se javljaju kod pristupa „kapitalizacije” i pokazano je da rezultati dobiveni tom metodom mogu biti nepouzdani; navodi se da bi pristup „novčanog toka” bio bolji.
In particular, the study finds:
U studiji je osobito navedeno sljedeće:
‘The capitalisation approach should only take into account the proportion of marketing expenditure that is attributable to the intangible asset base of an airport. However, it may be difficult to identify the proportion of marketing expenditure that is targeted towards generating expected future revenues for the airport (i.e. an investment in the intangible asset base of the airport) as opposed to generating current revenues for the airport.’
„Pristupom kapitalizacije uzeo bi se u obzir samo udio rashoda za marketing koji se može pripisati nematerijalnoj imovini zračne luke. Moglo bi međutim biti teško odrediti koliki je udio ukupnih rashoda za merkiteing namijenjen stvaranju očekivanih budućih prihoda za zračnu luku (tj. ulaganju u osnovu nematerijalne imovine zračne luke), a koliki stvaranju tekućih prihoda zračne luke.”
It also stresses that:
Ističe se i sljedeće:
‘In order to implement the capitalisation-based approach, it is necessary to estimate the average length of time that an airport would be able to retain a customer due to the AMS marketing campaign. In practice, it would be very difficult to estimate the average period of customer retention following an AMS campaign due to insufficient data.’
„Kako bi se proveo pristup na osnovi kapitalizacije potrebno je procijeniti prosječno vrijeme tijekom kojeg bi zračna luka mogla zadržati klijenta zahvaljujući marketinškoj kampanji AMS-a. U praksi bi, zbog pomanjkanja podataka, bilo vrlo teško procijeniti prosječno vrijeme zadržavanja klijenta nakon kampanje AMS-a.”
Under this approach, the benefits of marketing services agreements and airport services agreements which last even after the marketing services agreement has expired are expressed as a ‘terminal value’ that is calculated on the agreement's expiry date.
U skladu s tim pristupom, koristi od sporazuma o marketinškim uslugama i sporazuma o uslugama zračne luke koje traju čak i nakon isteka sporazuma o marketinškim uslugama izražavaju se kao „terminalna vrijednost” koja se izračunava na dan isteka sporazuma.
This terminal value is calculated based on the incremental profits expected from the airport services agreement and marketing services agreement in the final year of application of the airport services agreement.
Ova se terminalna vrijednost izračunava na temelju dodatne dobiti koja se očekuje od sporazuma o uslugama zračne luke i sporazuma o marketinškim uslugama u posljednjoj godini primjene sporazuma o uslugama zračne luke.
Those profits are extended into the following period, the term of which is equal to the term of the airport services agreement, and are adjusted to take into account the growth rate for the air transport market in Europe and the probability factor designed to reflect the airport services agreement's and marketing services agreement's capacities to contribute to the airport's profits after they have expired.
Ta se dobit produljuje za onoliko koliko je trajao sporazum o uslugama zračne luke, a potom usklađuje prema stopi rasta tržišta zračnog prijevoza u Europi i faktoru vjerojatnosti koji bi trebao odražavati potencijal sporazuma o uslugama zračne luke i sporazuma o marketinškim uslugama da pridonose dobiti zračne luke i nakon što isteknu.
According to the study of 31 January 2014, the capacity for producing lasting benefits depends on various factors ‘including greater prominence and a stronger brand, alongside network externalities and repeat passengers’, although no details are given about these factors.
Prema studiji od 31. siječnja 2014., potencijal za ostvarivanje dugotrajnih koristi ovisi o različitim čimbenicima, „uključujući veći ugled i snažniju trgovačku marku te vanjske mrežne učinke i putnike koji se vraćaju”, pri čemu međutim o tim čimbenicima nisu date nikakve pojedinosti.
Moreover, this method takes into account a discount rate which reflects capital costs.
U toj se metodi osim toga uzima u obzir diskontna stopa koja odražava kapitalne troškove.
The study suggests a probability factor of 30 %, which it considers prudent.
U studiji se predlaže faktor vjerojatnosti od 30 %, koji se u njoj smatra razboritim.
However, this very theoretical study does not provide any serious evidence for this factor, either quantitatively or qualitatively.
Međutim, u toj vrlo teoretskoj studiji za taj faktor nisu dati nikakvi ozbiljni dokazi, ni kvantitativni ni kvalitativni.
It does not base itself on any facts relating to Ryanair's activities, air transport markets or airport services to substantiate this rate of 30 %.
Ona se ne temelji na činjenicama koje se odnose na aktivnosti društva Ryanair, tržišta zračnog prometa ili usluge zračne luke a kojima bi se potkrijepila ta stopa od 30 %.
It does not establish any link between this rate and the factors that it mentions in passing (prominence, strong brand, network externalities and repeat passengers) and that are supposed to extend the benefits of the airport services agreement and market service agreement after their expiry dates.
U njoj nije utvrđena veza između te stope i usput spomenutih čimbenika (ugled, snažna trgovačka marka, vanjski mrežni učinci i putnici koji se vraćaju) i za koje se očekuje da će produljiti koristi sporazuma o uslugama zračne luke i sporazuma o marketinškim uslugama i nakon datuma njihova isteka.
Finally, it does not in any way base itself on the specific content of marketing services provided for in the various contracts with AMS when analysing to what extent those services could influence those factors.
Naposljetku, ta se studija uopće ne temelji na konkretnom sadržaju marketinških usluga predviđenih različitim ugovorima s društvom AMS u analizi pitanja u kojoj bi mjeri te usluge mogle utjecati na navedene čimbenike.
A ‘terminal value’ calculated using the method suggested by Ryanair would therefore be highly unlikely to be taken into account by a prudent MEO when deciding whether to enter into an agreement.
„Terminalnu vrijednost” izračunatu prema metodi koju je predložio Ryanair razborit subjekt u tržišnom gospodarstvu stoga vrlo vjerojatno ne bi uzeo u obzir pri odlučivanju o sklapanju sporazuma.
The study of 31 January 2014 therefore shows that a ‘cash flow’ approach would only lead to very uncertain and unreliable results, as would the ‘capitalisation’ method.
Studijom od 31. siječnja 2014. prikazano je dakle da bi pristup „novčanog toka” doveo samo do vrlo nesigurnih i nepouzdanih rezultata, kao i metoda „kapitalizacije”.
Moreover, a terminal value calculated using the method put forward by Ryanair is only positive (and, therefore, only tends to increase the profitability of the airport services agreement and marketing services agreements) if the incremental profit expected from these agreements in the final year of application of the airport services agreement is positive.
Osim toga, terminalna vrijednost izračunana prema metodi koju je predložio Ryanair pozitivna je (pa dakle dovodi do povećanja profitabilnosti sporazuma o uslugama zračne luke i sporazuma o marketinškim uslugama) samo ako je očekivana dodatna dobit od tih sporazuma u posljednjoj godini primjene sporazuma o uslugama zračne luke pozitivna.
If it is negative, taking the terminal value into account will usually reduce the profitability of the agreements.
Ako je negativna, uzimanjem terminalne vrijednosti u obzir obično će se smanjiti profitabilnost sporazuma.
It will be demonstrated below that the 2002 agreements resulted in negative incremental cash flows.
U nastavku teksta pokazano je da su sporazumi iz 2002. doveli do negativnih dodatnih novčanih tokova.
Moreover, as stated above, the marketing services target the route covered by the marketing services agreement.
Uz to, kako je prethodno navedeno, marketinške usluge usmjerene su na liniju obuhvaćenu sporazumom o marketinškim uslugama.
If this route is not renewed on expiry of the airport services agreement, it is unlikely that marketing services will continue to have a positive effect on passenger traffic at the airport after the expiry date.
Ako se ta linija ne obnovi nakon isteka sporazuma o uslugama zračne luke, malo je vjerojatno da će marketinške usluge i dalje imati pozitivan učinak na putnički promet u zračnoj luci nakon datuma isteka.
It is very difficult for an airport operator to assess the likelihood of an airline continuing to run a route on expiry of the term to which it has committed itself in the airport services agreement.
Upravitelju zračne luke teško je procijeniti vjerojatnost hoće li zračni prijevoznik nastaviti obavljati usluge prijevoza na određenoj liniji nakon isteka razdoblja na koje se obvezao u sporazumu o uslugama zračne luke.
Therefore, when entering into a transaction such as the one being examined in this case, a prudent MEO would not rely on an airline company extending the operation of the route in question on expiry of the agreement.
Prema tome, kod sklapanja transakcije kao što je ona koja se razmatra u ovom slučaju, razumni subjekt u tržišnom gospodarstvu ne bi se oslonio na to da će zračni prijevoznik produljiti obavljanje usluga prijevoza na predmetnoj liniji nakon isteka ugovora.
To conclude, in light of the arguments presented above, the only benefit that a prudent MEO would expect from a marketing services agreement, and which it would quantify when deciding on whether to enter into such an agreement, together with an airport services agreement, would be that the marketing services would have a positive effect on the number of passengers using the routes covered by the agreements in question for the term of operation of those routes, as set out in the agreements.
Zaključno, s obzirom na prethodno navedene argumente, jedina korist koju bi razumni subjekt u tržišnom gospodarstvu očekivao od sporazuma o marketinškim uslugama, i koju bi kvantificirao pri donošenju odluke o sklapanju takvog sporazuma zajedno sa sporazumom o uslugama zračne luke, bila bi da bi marketinške usluge imale pozitivan učinak na broj putnika koji se koriste linijama obuhvaćenima predmetnim sporazumima za vrijeme postojanja tih linija, kako je utvrđeno u sporazumima.
The Commission considers that any other possible benefits are too uncertain to be quantified and taken into account and that no such benefits have been concretely demonstrated in the present case.
Komisija smatra da su sve ostale moguće koristi previše nesigurne da bi se mogle izmjeriti i uzeti u obzir te da takve koristi nisu konkretno dokazane u ovom predmetu.
The feasibility of comparing Klagenfurt airport to other European airports
Izvedivost uspoređivanja zračne luke Klagenfurt s ostalim europskim zračnim lukama
Regarding the feasibility of a comparison versus the ex ante analysis of incremental profitability of the 2002 agreements, reference is made to the assessment under recitals 262 to 278.
Kad je riječ o izvedivosti usporedbe u odnosu na ex ante analizu dodatne profitabilnosti sporazuma iz 2002., upućuje se na procjenu u uvodnim izjavama od 262. do 278.
That study did not factor in the specific marketing services agreements at KLU in comparison to those possibly offered in other airports.
U toj studiji nisu uzeti u obzir posebni sporazumi o marketinškim uslugama s KLU-om u odnosu na one koji se možda nude u drugim zračnim lukama.
However, for each route covered by the agreements at issue the relevant marketing services agreement had to be assessed jointly with the corresponding airport services agreement.
Međutim, za svaku liniju obuhvaćenu predmetnim sporazumima relevantni sporazum o marketinškim uslugama morao se procijeniti zajedno s odgovarajućim sporazumom o uslugama zračne luke.
As such, the elements invoked in the Oxery study of 4 July 2011 did not fulfil the most basic requirement for benchmarking, namely a ‘sufficiently precise definition of the economic activities concerned’ so that comparable market operators could be identified.
Kao takvi, elementi na koje se poziva u studiji društva Oxera od 4. srpnja 2011. nisu ispunili osnovni preduvjet za usporedbu referentnih vrijednosti, točnije „dovoljno preciznu definiciju predmetnih gospodarskih aktivnosti” kako bi se mogli utvrditi usporedivi tržišni operateri.
In addition, the Oxera study of 4 July 2011 did not establish a dependable point of reference for market prices of airport services.
Uz to, u studiji društva Oxera od 4. srpnja 2011. nije utvrđena pouzdana referentna vrijednost za tržišne cijene usluga zračne luke.
Although the study describes the chosen comparator airports as ‘majority privately owned and funded, or otherwise operating as market economy investors’, […] airport is owned by Manchester Airports Group, which itself has majority State ownership, while the Oxera study of 4 July 2011 does not claim that […] airport is operated on a market economy basis.
Iako se u studiji zračne luke koje su odabrane kao usporedive opisuje kao „u većinskom privatnom vlasništvu i privatno financirane ili koje na drugi način rade kao ulagači u tržišnom gospodarstvu”, zračna luka […] u vlasništvu je grupe Manchester Airports Group, koja je pak u većinskom vlasništvu države, dok se u studiji društva Oxera od 4. srpnja 2011. ne tvrdi da se zračnom lukom […] upravlja u skladu s tržišnim gospodarstvom.
As for […] Airport, the study states that the airport has consistently been privately owned, but omits to mention that […] airport was loss-making before it was sold in 2013, a factor which would call into question whether the low airport charges invoked as a point of reference in this case were sustainable for a MEO.
Kad je riječ o zračnoj luci […], u studiji se navodi da je zračna luka stalno bila u privatnom vlasništvu, ali izostavlja se činjenica da je zračna luka […] bilježila gubitke prije nego što je prodana 2013., zbog čega se postavlja pitanje jesu li niske naknade zračne luke na koje se poziva kao na referentne vrijednosti bile održive za subjekt u tržišnom gospodarstvu.
Conclusion on the terms for applying the market economy operator test
Zaključak o uvjetima primjene testa subjekta u tržišnom gospodarstvu
It is clear from all the above that, in order to apply the MEO test to the agreements in question, the Commission must analyse each marketing services agreement together with the corresponding airport services agreement, and must assess whether a hypothetical MEO, motivated by the prospect of profits and operating KLU in place of KFBG, would have entered into these transactions.
Iz prethodno navedenog proizlazi da za primjenu testa subjekta u tržišnom gospodarstvu na predmetne sporazume Komisija mora svaki sporazum o marketinškim uslugama analizirati zajedno s odgovarajućim sporazumom o uslugama zračne luke te mora procijeniti bi li pretpostavljeni subjekt u tržišnom gospodarstvu motiviran izgledima za profitabilnost te koji KLU-om upravlja umjesto KFBG-a, zaključio te transakcije.
To this end, the Commission must determine the incremental profitability of the agreements as it would have been assessed by the MEO at the time of their conclusion, by estimating, for the entire period of application of the agreements:
U tu svrhu, Komisija mora odrediti dodatnu profitabilnost sporazumâ, kao što bi je procijenio subjekt u tržišnom gospodarstvu u vrijeme sklapanja sporazuma, procjenjujući, za cijelo trajanje njihove primjene, sljedeće:
the future incremental traffic expected from the implementation of these agreements, possibly taking into account the effects of the marketing services on the load factors of the routes covered by the agreements,
budući dodatni promet koji se očekuje od provedbe tih sporazuma, eventualno uzimajući u obzir učinke marketinških usluga na faktore opterećenja linija obuhvaćenih sporazumom,
the future incremental revenues expected from the implementation of these agreements, including revenue from airport charges and ground handling services, generated by the routes covered by these agreements, as well as non-aeronautical revenue from the additional traffic generated by the implementation of these agreements,
buduće dodatne prihode koji se očekuju od provedbe tih sporazuma, uključujući prihode od naknada zračne luke i od zemaljskih usluga koji proizlaze iz zračnih linija iz tih sporazuma te prihode od nezrakoplovnih usluga od dodatnog prometa nastalog provedbom tih sporazuma,
the future incremental costs expected from the implementation of these agreements, including operating costs and any incremental investment costs generated by the routes covered by these agreements, as well as marketing service costs.
buduće dodatne troškove koji se oočekuju od provedbe tih sporazuma, uključujući operativne troškove i eventualne dodatne troškove za ulaganja koja proizlaze iz zračnih linija iz tih sporazuma te troškove marketinških usluga.
These calculations will provide the future annual flows corresponding to the difference between incremental revenues and costs, which are to be discounted, if necessary, by a rate reflecting the cost of capital for the airport operator.
Iz tih izračuna trebaju proizaći budući godišnji tokovi koji odgovaraju razlici između dodatnih prihoda i troškova, koje treba diskontirati, ako je potrebno, po stopi koja odražava cijenu kapitala za upravitelja zračne luke.
A positive net present value indicates in principle that the agreements in question do not confer an economic advantage, whereas a negative net present value reveals the presence of such an advantage.
Pozitivna neto sadašnja vrijednost načelno ukazuje na to da predmetni sporazumi ne daju gospodarsku prednost, dok negativna neto sadašnja vrijednost ukazuje na to da takva prednost postoji.
When deciding on whether to enter into an airport services agreement and/or a marketing services agreement, a MEO will choose a time frame for its assessment based on the term of the agreements in question or the term set in each individual agreement.
Kada odlučuje hoće li sklopiti sporazum o uslugama zračne luke i/ili sporazum o marketinškim uslugama, subjekt u tržišnom gospodarstvu odabrat će vremenski okvir za svoju procjenu na temelju trajanja predmetnih sporazuma ili trajanja utvrđenog u svakom pojedinačnom sporazumu.
In other words, it will assess the incremental costs and revenues for the term of application of the agreements.
Drugim riječima, procijenit će dodatne troškove i prihode tijekom razdoblja primjene sporazuma.
On the date of signature of the agreements, a prudent MEO will not count on the agreements being renewed once they have expired, whether under the same or new terms.
Razuman subjekt u tržišnom gospodarstvu na datum sklapanja sporazuma neće računati na produljenje sporazuma po njihovu isteku, pod istim ili novim uvjetima.
Moreover, a generally prudent operator would be aware that low-cost airlines such as Ryanair have always been and are known for being very responsive to market developments, both when starting up or shutting down routes and when increasing or decreasing the number of flights.
Nadalje, uobičajeno razuman upravitelj znao bi da su niskotarifni zračni prijevoznici kao što je Ryanair oduvijek poznati po tome da se vrlo brzo prilagođavaju promjenama na tržištu, i pri otvaranju i pri zatvaranju zračnih linija kao i pri povećavanju ili smanjivanju broja letova.
The possibility to extend the agreements as foreseen in two of the agreements would not be taken into consideration by a prudent MEO.
Razuman subjekt u tržišnom gospodarstvu ne bi uzeo u obzir mogućnost produljenja sporazuma koja je predviđena u oba sporazuma.
The extension of the agreements was automatic under the condition that Ryanair fully complied with its obligations as set out in the agreement.
Automatsko produljenje sporazuma bilo je predviđeno uz uvjet da Ryanair u potpunosti ispuni svoje obveze kako su utvrđene u sporazumu.
The extension was thus dependant on Ryanair's future behaviour and for that reason, on the date of signature a prudent MEO in the same situation as KFBG would not have been in a position to expect that this automatic extension would necessarily take place.
Produljenje je stoga ovisilo o budućem ponašanju Ryanaira i zbog toga razuman subjekt u tržišnom gospodarstvu u istoj situaciji kao KFBG na dan potpisivanja ne bi mogao očekivati da će sigurno doći do tog automatskog produljenja.
This view seems to be confirmed by the fact that all four agreements between KFBG, DMG, Ryanair, LV and AMS ended ahead of time on 29 October 2005, when Ryanair stopped to operate the passenger air services between KLU and STN due to economic reasons.
To shvaćanje potvrđuje činjenica da su sva četiri sporazuma između KFBG-a, DMG-a, Ryanaira, LV-a i AMS-a istekla prijevremeno, 29. listopada 2005., kada je Ryanair iz ekonomskih razloga prestao pružati usluge zračnog prijevoza putnika između KLU-a i STN-a.
Even when taking into account a prolongation of the agreements for 5 further years, this would not lead to another result of an ex ante assessment.
Čak i ako se uzme u obzir produljenje sporazuma za dodatnih pet godina, to ne bi dovelo do drugačijeg rezultata ex ante procjene.
When assessing such prolongation under the same terms as for the first 5 years, it would lead to the same results, i.e. negative incremental cash flows.
Procjena tih produljenja pod istim uvjetima kao i za prvih pet godina dovela bi do istih rezultata, tj. do negativnih dodatnih novčanih tokova.