natgillin/translations-raw huggingface dataset:
Point 11 of the Guidelines provides that even when none of the circumstances set out in point 10 are present, a firm may still be considered as being in difficulty and lists some of the usual signs indicating this to be the case, such as: diminishing turnover, growing stock inventories, excess capacity, mounting debt, rising interest charges and falling or nil asset value.
Glede na analizo družbe LOT je bil ta prvi dobiček od leta 2007 večinoma posledica izvajanja ukrepov prestrukturiranja in ne zunanjih dejavnikov.
The financial statements of the Company show the following signs of a firm being in difficulty (see Table 1 above):
Likvidnost družbe LOT se je prav tako zelo izboljšala.
Diminishing turnover: in 2013, sales revenue fell to PLN 3147 million, the lowest level since 2010 when it reached PLN 2958,8 million;
Dejanski denarni tokovi iz poslovanja so bili leta 2013 za 285 milijonov PLN večji od načrtovanih.
Growing stock inventories: after an initial decrease from PLN 252,1 million in 2010 to PLN 198,5 million in 2012, inventories rose to PLN 216,6 million in 2013;
Čeprav družba LOT še vedno potrebuje pomoč, da bi preživela, se je varnostna rezerva likvidnosti povečala, kar še dodatno podpira trditev v zvezi z obnovo sposobnosti preživetja.
Excess capacity: the Company has reduced employment and fleet and plans further reductions, a sign that it faces excess capacity;
Komisija je v sklepu o začetku postopka podvomila o nekaterih predpostavkah, na katerih temeljijo finančne projekcije, na primer o razmeroma majhnem odstopanju ključnih parametrov, na katerih temeljijo finančne projekcije, od izhodiščne vrednosti (npr. povprečni prihodki enote na potnika (donos) – za 1 %, število potnikov – za 1 %, menjalni tečaj PLN/USD – za 10 %), fiksni ceni goriva v šestletnem obdobju projekcije, 85-odstotni stopnji izvajanja ukrepov prestrukturiranja, znesku prihodkov, ki naj bi bili ustvarjeni s podnajemom zrakoplovov.
Mounting debt: short-term and long-term liabilities increased from PLN 1606,9 million in 2010 to PLN 3,223 million in 2013;
Poljska je predložila posodobljeno analizo občutljivosti, v kateri so predvidena večja odstopanja ključnih parametrov od izhodiščne vrednosti: donos – za 4 %, število potnikov – za 3,5 %, padec vrednosti PLN v primerjavi z USD – za 55 %.
Rising interest charges: interest charges increased from PLN 60,2 million in 2010 to PLN 123,8 million in 2013;
Načrtovani donos je utemeljen s preteklimi vrednostmi in je bil potrjen z dejanskimi rezultati (leta 2013 je rasel hitreje, kot je bilo načrtovano).
Falling or nil net asset value: net assets decreased from PLN 500,1 million in 2010 to — PLN 265,5 million in 2012, and — PLN 258,1 million in 2013.
Število potnikov, že predvideno na bistveno nižjih ravneh zaradi ukrepov prestrukturiranja in izravnalnih ukrepov, je manjše, kot bi bilo utemeljeno na podlagi primerjave s podobnimi letalskimi družbami in napovedi rasti za poljski trg.
In addition, the Company has reported losses in every financial year since 2008.
Nazadnje, glede na napovedi finančnih institucij, ki jih navaja družba LOT, naj bi menjalni tečaj PLN/USD ostal pod ravnjo, predvideno v načrtu prestrukturiranja, do konca obdobja napovedi, tj. leta 2016.
This tendency was reversed only in 2013 when LOT reported net profit after it had benefitted from the rescue aid.
Izhodiščna cena goriva, predvidena v načrtu prestrukturiranja, je nad desetletno preteklo najvišjo ceno družbe LOT in 12,1 % nad tržno ceno v času priglasitve, kar pomeni, da je precej višja od cen, ki jih je Komisija analizirala v predhodnih zadevah v zvezi s prestrukturiranjem letalskih družb [75] (tj. najvišja cena goriva, analizirana v zadevi v zvezi z družbo Czech Airlines, je bila 5 % in v zvezi z družbo Air Malta 4,5 % nad takratnimi tržnimi cenami).
The Commission considers that a company that has reported losses of that magnitude for several years is likely to be in difficulty.
Družba LOT lahko trenutno ceno goriva zavaruje (hedging) na […] % pod izhodiščno ravnjo do leta 2015, kar pomeni, da lahko zagotovi, da cena ne bo presegla zavarovane ravni do konca obdobja prestrukturiranja.
In addition, according to the auditor's opinion on the financial statements for the year 2013, there is material uncertainty as regards the ability of the Compa ny to continue operations due to negative equity and current liabilities exceeding current assets.
Poleg tega bi družba LOT glede na analizo občutljivosti, tudi če bi se ta zelo konzervativna izhodiščna cena povišala za 15 %, še vedno ohranila likvidnost v celotnem obdobju finančne projekcije.
In earlier cases, [69] the Commission concluded that, where a company has negative equity, there is an a priori assumption that the criteria of point 10(a) of the Guidelines are met, which would be the case for LOT since 2012.
Kar zadeva prihodek, ki naj bi bil ustvarjen s podnajemom zrakoplovov, je družba LOT en zrakoplov B787 oddala v podnajem organizatorjem potovanj in trenutno pripravlja končno pogodbo z najemnikom drugega zrakoplova.
The General Court also concluded [70] that a company with negative equity is a company in difficulty.
Družba LOT verjetnost posla ocenjuje kot veliko.
In light of the above, the Commission considers that LOT is a firm in difficulty also within the meaning of point 11 of the Guidelines.
Glede na pripombe zainteresirane strani je B787 zrakoplov, ki se dobro trži.
LOT was created in 1929 (registered in its present form in 2001) and has been operating in the air passenger transport ever since, therefore it cannot be considered as a newly created firm for the purpose of point 12 of the Guidelines.
Predpostavka v zvezi s podnajemom dveh zrakoplovov B787 se zato zdi uresničljiva.
Point 13 of the Guidelines establishes that a firm belonging to or being taken over by a larger business group is not normally eligible for restructuring aid, except where it can be demonstrated that the firm's difficulties are intrinsic and are not the result of an arbitrary allocation of costs within the group, and that the difficulties are too serious to be dealt with by the group itself.
Družba LOT še vedno išče kupce ali najemnike za […] zrakoplovov E170.
LOT is the parent company of a business group, but its difficulties are intrinsic to its activity and do not result from an arbitrary allocation of costs within the LOT Group.
Kljub temu je pripravila nadomestni scenarij za floto, v katerem je predvidena nadaljnja uporaba zrakoplovov za zagotovitev, da bo sposobnost preživetja obnovljena, tudi če ti poskusi ne uspejo.
The factors considered to have given rise to the Company's difficulties are described in recital 20 above.
Komisija je preučila, kako bi nadomestni scenarij, če bi bil izveden, vplival na finančne projekcije.
The subsidiaries of the LOT Group are too small and do not generate sufficient cash surpluses to rescue the parent company.
Ugotovila je, da bi bili skupni denarni odlivi v obdobju 2014–2018 za [64–78] milijonov PLN večji kot pri osnovnem scenariju.
Their combined revenue for the year 2013 accounted for only approximately 2,5 % of LOT's revenue and they recorded a combined net loss of PLN 2 million.
Ta negativni odmik ostaja v okviru varnostne rezerve, predvidene v načrtu prestrukturiranja.
Therefore, the difficulties of the Company are too serious to be dealt with by the Group itself.
Poleg tega je družba LOT predvidela nadaljnje ukrepe prestrukturiranja (ki niso vključeni v načrt prestrukturiranja), da bi amortizirala morebitne negativne učinke nadomestnega scenarija za floto.
On the basis of the above, the Commission concludes that LOT is a firm in difficulty and is eligible for restructuring aid.
V zvezi s stopnjo izvajanja načrta prestrukturiranja Komisija na podlagi zgornje analize meni, da je predvidena 85-odstotna stopnja izvajanja ukrepov prestrukturiranja realna.
According to point 73 of the Guidelines, if the firm concerned has already received rescue or restructuring aid in the past, including any un-notified aid, and where less than 10 years have elapsed since the rescue aid was granted or the restructuring period came to an end or implementation of the restructuring plan has been halted (whichever is the latest), the Commission will not allow further rescue or restructuring aid.
Poleg tega ugotavlja, da je družba LOT leta 2013 dosegla 137 % načrtovanih koristi prestrukturiranja.
The same holds for the other transactions indicated by interested parties as allegedly constituting State aid, i.e. concerning: (i) the sale of real estate, (ii) the provision of loans, (iii) the sale of subsidiaries, and (iv) the provision of other services as described in recitals 132 and 133 above, as the Commission reached the conclusion that they do not constitute State aid, see recitals 177, 183, 191 and 192 above.
Trajanje je krajše kot pri predhodno odobrenih zadevah v zvezi s prestrukturiranjem letalskih družb [76], v katerih je obdobje prestrukturiranja trajalo pet let.
In view of the above, the Commission considers that neither the deferral of the airport charges nor the transactions indicated by the interested parties constitute State aid.
Bilo bi torej kontraproduktivno, če bi določili, da se prvi ukrepi, zato da bi se šteli za del istega postopka prestrukturiranja, ne smejo izvajati, dokler nazadnje navedeni ukrepi niso opredeljeni v vseh svojih podrobnostih.
Moreover, Poland has confirmed that the Company has not benefited from any rescue or restructuring aid in the last 10 years.
S tako prepovedjo izvajanja ukrepov, ki bi jih bilo mogoče sprejeti takoj, bi se povečale težave družbe in potreba po dodatni državni pomoči.
The Commission therefore considers that the ‘one time, last time’ principle is respected.
Komisija zato ugotavlja, da so predlagani ukrepi prestrukturiranja primerni za obnovo dolgoročne sposobnosti preživetja družbe LOT v razumnem časovnem okviru in na podlagi realnih predvidevanj.
In order to consider a measure compatible under points 34-37 of the Guidelines, the restructuring plan must restore the long-term viability of the firm within a reasonable timescale and on the basis of realistic assumptions as to future operating conditions.
V skladu s točkami 38 do 42 Smernic je treba sprejeti izravnalne ukrepe za zagotovitev čim večjega zmanjšanja škodljivih učinkov pomoči na pogoje poslovanja.
The restructuring plan must describe the circumstances that led to the difficulties, thereby providing a basis for assessing whether the proposed restructuring measures are appropriate.
To običajno pomeni omejitev prisotnosti, ki jo lahko družba uživa na svojih trgih ob koncu obdobja prestrukturiranja.
The restructuring plan provides for a return to long-term viability in 2015 (see Table 4).
Izravnalni ukrepi morajo biti sorazmerni z izkrivljajočimi učinki pomoči ter zlasti z velikostjo in relativno pomembnostjo podjetja na njegovem trgu ali trgih.
The Company is expected to generate net profits, which means that it would be in a position to cover all its costs after completing the restructuring, including depreciation and financial charges.
Opustitve dejavnosti, ki ustvarjajo izgubo, ni mogoče šteti za veljaven izravnalni ukrep.
Given that the yield on the Polish 10-year government bonds, commonly seen as an approximation of a return on a risk-free investment, is approximately 3,4 %, the expected return on capital offers a reasonably adequate risk premium and can be considered enough to enable LOT to compete in the marketplace on its own merits.
Poleg tega bo Komisija v skladu s točko 7 Smernic zahtevala izravnalne ukrepe, s katerimi se čim bolj zmanjša učinek na konkurente.
On the other hand, given that the median ROCE of European airlines was 6,9 % in the last financial year (10,.3 % if only profitable carriers are taken into account) and that the most efficient European carriers had ROCE of 13,4 %, the target set by LOT appears neither unrealistic nor excessive after successful restructuring.
V skladu s točko 56 Smernic so pogoji za odobritev pomoči manj strogi, kar zadeva izvajanje izravnalnih ukrepov na območjih, ki prejemajo pomoč.
The restructuring plan sets out in detail the circumstances that led to LOT's difficulties and provides for the measures that aim to address these difficulties which are described in detail in Chapter III above.
V zvezi s tem Komisija ugotavlja, da ima družba LOT sedež na območju, ki prejema pomoč v skladu s členom 107(3)(a) PDEU.
The Commission has reviewed the key assumptions underlying the financial projections contained in the restructuring plan and assessed the restructuring measures as well as the issues raised by the interested parties with respect to the restoration of long-term viability.
Komisija ugotavlja, da je družba LOT relativno majhna družba, ki se srečuje s konkurenco tradicionalnih in nizkocenovnih prevoznikov.
As a result, it considers that LOT is in a better position to succeed now than in 2009-2012.
Njen delež v skupnem evropskem potniškem zračnem prometu je ocenjen na manj kot 1 %.
First, in 2013 LOT began operating the long-awaited B787 aircraft which is a key element of the new strategy and an important driver of restructuring benefits.
Ima razmeroma močnejši (čeprav postaja šibkejši) položaj na mednarodnih progah na Poljsko in s Poljske, na katerih je njen delež ocenjen na 27 %.
The delay in delivery of the B787 aircraft was considered by Poland to be one of the fundamental reasons of the Company's past financial difficulties and its inability to restore viability.
Komisija zato meni, da so potrebni izravnalni ukrepi.
LOT's new strategy is based on the use of B787 on long haul niche routes and on the effective feeding network from Poland and Central Europe built around Warsaw Chopin Airport which has been recently modernised and is expanding [71].
Vendar lahko Komisija zaradi razmeroma majhne velikosti in omejene tržne pomembnosti družbe LOT šteje, da bodo izkrivljajoči učinki pomoči omejeni.
The first actual results of the operation of B787 confirm the assumption that significant restructuring benefits will come from its introduction.
To pa je treba tudi upoštevati pri oceni izravnalnih ukrepov.
In June-November 2013 profit generated by the B787 fleet was PLN […] million higher than profit generated by its predecessor B767 in a comparable period of 2012.
Družba LOT kot izravnalne ukrepe načrtuje ukinitev 19 povezav in zmanjšanje pogostosti letov na petih povezavah (glej podrobnosti v oddelku 3.4).
This was more than forecasted in the restructuring plan.
Družba LOT donosnost prog izračunava z dvema meriloma: „Pragom 1“ in „Pragom 2“.
Assuming that the aircraft are used for the full 12 months (unlike in 2013 when it was grounded for half of the year), the planned annual financial impact of PLN [135-165] million seems achievable.
Pri Pragu 1 se upoštevajo prihodki in variabilni stroški proge, kot so na primer stroški prodaje, stroški, povezani s potniki, in stroški letov.
The new aircraft brought also significant savings: fuel cost was lower by [> 15] % and total direct cost was lower by [> 25] %.
Pri Pragu 2 se dodatno upoštevajo tako imenovani „prispevek“ (finančni učinek proge na celotno mrežo letov družbe LOT) in posredni stroški, ki jih je mogoče pripisati progi (npr. poslovni najem, amortizacija, fiksni stroški osebja, trženje in oglaševanje).
Poland has also provided quantitative evidence confirming that the introduction of B787 aircraft has a positive impact not only on the long haul segment but also on the entire flight network, including short and medium haul segments which provide transfer connections for the long haul.
Vse zadevne proge so bile donosne na podlagi merila Prag 1.
LOT's profit from the connections served by B787 aircraft measured by Margin 2 [72] (i.e. including contribution effect on the entire flight network) reached PLN [> 100] million in June-November 2013 and was higher by [> 100] % than in comparable period of 2012 when the Company used the old B767 aircraft.
Praksa Komisije je, da proge šteje za donosne, če so imele pozitiven prispevek za kritje v letu pred njihovo ukinitvijo [77].
Concerning the potential under-utilisation of B787 aircraft raised in the opening decision, Poland clarified that until 2013 LOT had operated five B767 aircraft on the routes from Poland to USA and Canada.
Pri prispevku za kritje (ki ustreza „Pragu 1“ družbe LOT) se upoštevajo prihodki od prodaje in variabilni stroški (stroški, povezani z leti, potniki in distribucijo), ki jih je mogoče pripisati posamezni progi.
At present it has six B787 aircraft which can be deployed on the same routes and an additional route to Beijing.
Prispevek za kritje je ustrezno merilo, ker upošteva vse stroške, ki so neposredno povezani z zadevno progo.
According to IATA transatlantic flights from Poland are expected to grow at 6,5 % p.a. in 2013-2017 and passenger traffic from Central and Eastern Europe to Asia at 9,1 %-10,6 % p.a.
Običajna poslovna praksa je, da se nadaljujejo dejavnosti, s katerimi se kratko- do srednjeročno krijejo variabilni stroški.
Poland provided data demonstrating that it has one of the biggest and growing local markets to North America, bigger than some established Western European hubs (Munich, Vienna, Copenhagen and on some routes Zurich) and bigger than the current market size of Prague and Budapest combined.
Fiksni stroški se načeloma ne spreminjajo z obsegom dejavnosti in jih je treba kriti ne glede na to, ali povezava deluje ali ne.
This gives more assurance that the B787 aircraft can be used effectively and efficiently.
Zato je za letalsko družbo ugodneje, da obdrži tako povezavo, dokler krije vsaj del fiksnih stroškov, kot da jo opusti.
Secondly, LOT has addressed weaknesses of earlier restructuring attempts by focusing on previously unresolved problems, e.g. inconsistent employment restructuring.
To je implicitno priznala ena od zainteresiranih strani, ki je navedla, da je merjenje donosnosti samo na podlagi variabilnih stroškov neustrezno za dolgoročne preudarke.
Already by November 2013 LOT had cut ground personnel by an unprecedented 35 % and further reductions are planned.
Na podlagi navedenega Komisija ugotavlja, da zadevne proge pomenijo ustrezne izravnalne ukrepe, ker pred prestrukturiranjem niso ustvarjale izgube.
The revenue-related measures achieved [> 100] % of their planned financial potential in 2013.
Družba LOT torej ni imela nikakršne presežne državne pomoči, ki bi bila na voljo za financiranje domnevne širitve na trgu čarterskih poletov.
In August 2013 the Company introduced paid catering which has not met negative customer response.
Tudi prihodnja pomoč za prestrukturiranje se ne bo uporabljala za to, ampak izključno za financiranje ukrepov prestrukturiranja.
According to LOT's market research, passengers of its economy class are not likely to oppose other paid services, apart from luggage fee (which LOT does not intend to introduce).
Drugič, družba LOT ni povečala svoje zmogljivosti na poljskem trgu čarterskih poletov.
Passengers on the Polish market, where LCCs have more than 50 % share, are used to paid services.
Nasprotno, svojo prisotnost na rastočem poljskem trgu čarterskih poletov je z [> 3] % leta 2012 zmanjšala na [< 1,5] % leta 2013 (v preteklosti je imela družba LOT mnogo močnejši položaj z [> 15]-odstotnim tržnim deležem leta 2010).
There seems to be a potential for growth of ancillary revenue.
Dejavnosti družbe LOT na trgu čarterskih poletov so začasne in se izvajajo zgolj za zagotovitev učinkovite uporabe njene flote, kot je bilo predvideno v načrtu prestrukturiranja.
LOT's ancillary revenue accounts for […] % of total revenue and is lower than the average for traditional carriers (3,1 % and increasing) and much lower than Aer Lingus (13-14 %) which LOT perceives as its strategic benchmark (due to similar size and business model).
Družba LOT ne načrtuje, da bo po koncu obdobja prestrukturiranja ohranila svojo navzočnost na trgu čarterskih poletov.
LOT has created a dedicated unit responsible for increasing ancillary revenue.
Tretjič, čarterska dejavnost je postranska dejavnost družbe LOT, saj pomeni le [< 1] % njene dejavnosti.
As traditional airlines move towards a mixed business model combining more ancillary revenue with traditional elements of network carriers, it seems justified to consider that LOT's shift in the same direction will not erode its strategy (to remain a legacy carrier) and discourage customers.
Skratka, skupni obseg zmanjšanja zmogljivosti, ki izhaja iz izravnalnih ukrepov, ki jih je ponudila družba LOT, je [13,5–16,5] % in je večji od obsega, ki ga je Komisija sprejela v prej navedenih zadevah v zvezi s prestrukturiranjem letalskih družb, tj. Czech Airlines in Air Malta.
As regards further implementation of the restructuring plan, by 31 December 2013 LOT has already realised 69 % of the planned improvement in 2014.
Navesti je treba tudi, da je bilo dejansko zmanjšanje zmogljivosti, ki ga je družba LOT zabeležila leta 2013, za 1,6 odstotne točke večje od načrtovanega.
To achieve the target set for the year ended 31 December 2014 (profit from core activity of PLN 71 million) LOT still must improve financial performance by PLN 75 million, which is a realistic goal.
Poleg tega Komisija ugotavlja, da je družba LOT ukinila vrsto prog s popolnoma koordiniranih [78] letališč v Frankfurtu, Münchnu, Düsseldorfu, na Dunaju, v Zürichu, Helsinkih, Parizu, Nici, Rimu, Amsterdamu in Stockholmu.
In particular, LOT has identified sources of this required improvement, e.g. benefits from the already implemented restructuring measures which have recurring financial impact (PLN [> 100] million in 2013); lack of one-off cost of grounding of B787 aircraft in the first half of 2013 (PLN [> 25] million); additional profit from B787 aircraft, if it is used for the full year instead of a half-year as in 2013 (PLN [> 50] million); savings on fuel cost (PLN [> 75] million).
Posledično so bili na navedenih letališčih sproščeni pari slotov, kar ustvarja nove poslovne priložnosti za konkurenčne letalske družbe za upravljanje letov na ta letališča in z njih ter povečanje njihove prisotnosti na teh letališčih.
If only a fraction of these potential improvements is actually realised, LOT should achieve its financial target for 2014.
Glede na navedeno predlagani izravnalni ukrepi zadostujejo za zagotovitev, da se čim bolj zmanjšajo škodljivi učinki državne pomoči na pogoje poslovanja.
Thirdly, the macroeconomic environment, which undermined previous restructuring attempts, has improved.
Predlagani izravnalni ukrepi so torej v skladu s točkami 38 do 42 Smernic.
After recession in 2009 and 2012 the EU economy seems to be gaining ground as it is forecasted to grow by 1,6 % in 2014 and 2.0 % in 2015.
V skladu s točkami 43 do 45 Smernic mora biti pomoč omejena na najmanjši potrebni znesek za prestrukturiranje družbe.
Poland's economy is expected to grow by 3,2 % in 2014, i.e. faster than was forecast when the restructuring plan was prepared (2,2 %), and by 3,4 % in 2015 [73].
Upravičenec naj bi pomemben delež k načrtu prestrukturiranja prispeval iz lastnih virov, tudi s prodajo sredstev, ki niso bistvenega pomena za preživetje družbe, ali iz zunanjega financiranja pod tržnimi pogoji.
Based on historical data cited by LOT, demand for air passenger transport services has been strongly correlated with economic growth.
Takšen prispevek mora biti realen, tj. dejanski, izključevati mora vse prihodnje dobičke, kot je denarni tok, in je znak, da trgi verjamejo v izvedljivost obnovitve sposobnosti preživetja družbe.
IATA forecasts that world passenger traffic will grow by 5,4 % p.a. in 2013-2017.
Pri velikih podjetjih, kot je družba LOT, mora biti delež lastnega prispevka vsaj 50 % stroškov prestrukturiranja.
According to the Association of European Airlines, in the summer timetable of 2014 Central and Eastern Europe will record the largest expansion (7 % increase of flights) of all European areas.
Izkazani lastni prispevek družbe LOT znaša [1200–1600] milijonov PLN in pomeni [60–67] % stroškov prestrukturiranja.
Poland accounts for roughly 25 % of the overall air traffic in Central and Eastern Europe.
Vključuje: (i) finančni najem zrakoplovov B787 v višini […] milijonov PLN in (ii) prodajo osnovnih sredstev, s katero bi bilo ustvarjenih […] milijonov PLN.