natgillin/translations-raw huggingface dataset:
Further, the airline should take advantage of a number of synergies that it can develop both on revenue and costs side with Tallink.
Komisija je nato proučila, ali bi podjetje Estonian Air na podlagi načrta prestrukturiranja lahko ponovno doseglo dolgoročno rentabilnost.
Therefore, the modified restructuring plan envisages much stronger revenue growth in 2015 and 2016 than the original restructuring plan.
Komisija je ugotovila, da sta analiza scenarijev in analiza občutljivosti načrta prestrukturiranja razkrili velike slabosti.
That amount includes — apart from the revenues from asset sales and a new [loan, already accounted for in the originally notified restructuring plan — financing provided in 2010 in equity and loans by SAS (EUR […] million), financing for the purchase of aircraft obtained in 2011 from Export Development Canada (EDC) and […] (EUR […] million), a planned equity contribution by Infortar in 2015 (EUR […] million) and an intra-group credit line to be provided by Infortar in 2015 (EUR […] million).
Na podlagi navedenega je Komisija dvomila, da je bil prvotni načrt prestrukturiranja dobra podlaga za ponovno doseganje dolgoročne rentabilnosti podjetja Estonian Air.
The compensatory measures proposed in the modified restructuring plan include fleet downsizing, discontinuation of routes and resulting market share reduction.
V zvezi z izravnalnimi ukrepi je Komisija izrazila dvome glede sprejemljivosti sprostitve slotov na številnih koordiniranih letališčih.
Between 2010 and 2016, the airline would have reduced its permanent fleet by one aircraft (from eight to seven).
Potrebne so bile dodatne informacije o letališčih z omejeno zmogljivostjo in ekonomski vrednosti slotov, da bi se lahko ocenilo, ali bi se ti sloti lahko sprejeli kot izravnalni ukrepi.
Compared to 2012, the reduction in 2016 would be down to four aircraft.
V zvezi z ukinitvami 12 prog, ki so se štele za izravnalni ukrep (glej uvodno izjavo 54), Komisiji ni bilo jasno, kako so se izračunali „stopnja kritja 1“, „prispevek DOC“ in stopnja donosnosti navedenih prog.
Further, between 2010 and 2016, the modified restructuring plan envisages an overall reduction of routes from [20-25] to [15-20].
Komisija je ugotovila, da je razlika med navedenimi kazalniki donosnosti zelo izrazita in da ni jasno, ali bi se moralo podjetje Estonian Air progam odpovedati v vsakem primeru, da bi ponovno doseglo rentabilnost.
While the airline has given up eight routes (Athens, Barcelona, Dublin, Rome, Hamburg, London, Berlin and Kuressaare), three routes would be added (Gothenburg, Split and Trondheim).
Komisija je ugotovila zlasti, da so imele vse proge negativno stopnjo donosnosti.
Overall, the capacity flown would remain stable with [1 000-1 200] million ASKs in 2016 compared to [1 000-1 200] million ASKs in 2011.
Tudi če bi uporabila stopnjo prispevka DOC za oceno donosnosti proge, bi imeli zgolj dve progi, ki ustrezata zmanjšanju zmogljivosti v smislu ASK za približno 1 %, stopnji prispevka DOC višji od 0 in bi bili sprejemljivi.
As regards market share, the Estonian authorities argue that Estonian Air’s market share dropped from 40,2 % in 2012 to 26,3 % in 2014.
Za predlagani lastni prispevek podjetja Estonian Air v višini 38 milijonov EUR (ali 48,3 % skupnih stroškov prestrukturiranja v višini 78,7 milijona EUR) je Komisija ugotovila, da je načeloma sprejemljiv.
As regards the entry of a private investor, the modified restructuring plan envisages that Infortar would not pay anything to the State for its stake in Estonian Air.
Vendar je Komisija izrazila pomisleke o prodaji treh letal tipa CRJ900 leta 2015, prodaji AS Estonian Air Regional in prodaji 51-odstotnega deleža podjetja Estonian Air v podjetju Eesti Aviokütuse Teenuste AS.
Instead, it would provide a capital injection of EUR […] million into Estonian Air (thereby acquiring by April 2015 between […] of its shares) plus an additional intra-group credit line of EUR […] million.
Komisija je kljub temu menila, da bi se lahko prodaja nepremičnine, novo posojilo […] in prodaja 60-odstotnega deleža podjetja Estonian Air v podjetju AS Amadeus Eesti lahko sprejeli kot lastni prispevek.
Estonia would provide the remaining part of the rescue loan (up to EUR […] million) and then write-off a majority of its loans (up to EUR […] million […]) and give up its shareholding by agreeing to a reduction of the share capital to zero and then waiving its right to subscribe for the new capital increase, while possibly retaining up to […] % of Estonian Air shares.
Komisija je poleg tega v sklepih o začetku postopka v zvezi s pomočjo za reševanje ponovno izrazila svoje pomisleke o združljivosti ukrepov od 1 do 5, ki bi lahko pomenili kršitev načela enkratnosti pomoči.
Infortar was not chosen on the basis of an open, transparent and unconditional tender but rather through direct negotiations with Estonia.
Na podlagi navedenega je Komisija dvomila, da je priglašeni ukrep prestrukturiranja skladen s smernicami za reševanje in prestrukturiranje iz leta 2004 in združljiv z notranjim trgom.
The Estonian authorities argue that there was no time to organise a long tender process and that it actively approached a number of potential investors while others also had an opportunity to express their interests.
Od Estonije je zahtevala, naj predloži pripombe in vse informacije, saj ji bodo v pomoč pri ocenjevanju kapitalske injekcije, priglašene kot pomoč za prestrukturiranje.
Infortar was the only one to express a real interest backed by a contribution to the modified restructuring plan.
V zvezi s pritožbo, prejeto 23. maja 2013 glede sporazuma o prodaji in povratnem najemu med podjetjem Estonian Air in letališčem v Talinu (glej uvodno izjavo 10), je Komisija sklenila, da ni vseboval neupravičene prednosti za Estonian Air, in zato izključila prisotnost državne pomoči.
In addition, the Estonian authorities argue that the value of Estonian Air was determined by an independent and reputed expert which concluded that the total equity value of Estonian Air as of 31 March 2015 from the perspective of a potential private investor would fall within a range of EUR […] million.
PRIPOMBE O SKLEPIH O ZAČETKU POSTOPKA
THE OPENING DECISIONS
Pripombe Estonije
The rescue aid opening decisions
Estonija je z dopisoma z dne 9. aprila 2013 in 17. maja 2013 predložila pripombe o sklepih Komisije o začetku postopka v zvezi s pomočjo za reševanje.
On 20 February 2013, the Commission decided to initiate the formal investigation procedure in respect of the measures granted in the past (measures 1 to 4) and the rescue loan facility.
Estonija glede ukrepa 1 meni, da je bila naložba izvedena na podlagi verodostojnega poslovnega načrta in pozitivnega vrednotenja letalskega prevoznika.
On 4 March 2013, the Commission extended the formal investigation procedure to the increase of the rescue loan facility.
Poleg tega Estonija izpostavlja, da je vsak delničar opravil lastno analizo poslovanja in da so se vsi odločili vložiti kapital sorazmerno s svojimi poslovnimi deleži, kar pomeni, da je bil ukrep 1 izveden pari passu.
In the rescue aid opening decisions, the Commission highlighted that Estonian Air has continuously registered significant losses since 2006.
Estonija najprej ugotavlja, da odsotnost razpisnega postopka pri ukrepu 2 nikakor ne pomeni, da je prisotna državna pomoč, in da je prodaja v vsakem primeru temeljila na transakcijski vrednosti, ki je odražala dejansko tržno ceno oddelka za zemeljsko oskrbo podjetja Estonian Air, ki je bil poleg tega donosen.
In addition, the Commission noted that the airline showed some of the usual signs of a firm being in difficulty in the sense of the Community guidelines on State aid for rescuing and restructuring firms in difficulty [31] (‘the 2004 R&R Guidelines’) and that more than half of the airline’s equity disappeared between 2010 and 2011.
Po navedbah Estonije je ukrep 2 sestavljala prodaja sredstev, povezanih z zemeljsko oskrbo letalskega prevoznika, brez zaposlenih ali obveznosti, knjigovodska vrednost sredstev pa je bila najnižja cena.
Also, by the end of July 2012, Estonian Air had reached a state of technical bankruptcy under Estonian law.
Poleg tega Estonija meni, da je bil posel primerljiv s podobnimi posli.
On this basis, the Commission’s preliminary view was that Estonian Air qualified as a firm in difficulty between 2009 and 2012.
Estonija poudarja tudi, da je letališče v Talinu neodvisen subjekt, v katerega država ne posega, in da so vsi člani upravnega in nadzornega odbora neodvisni poslovneži in ne predstavniki države ali osebe, ki jih imenuje država.
The Commission also expressed doubts as regards the measures under assessment and came to the preliminary conclusion that they entailed incompatible State aid.
Poleg tega je Estonija pojasnila dejansko zgradbo ukrepa 3, za katerega prav tako meni, da ne vključuje pomoči.
In relation to measure 1, although it appeared that it had been carried out on pari passu terms by the three shareholders of the airline at the time, the Commission observed that the new shares were paid in cash and through loan-to-equity conversion.
Po navedbah Estonije je poslovni načrt iz leta 2010 vključeval vse dejavnike, potrebne za preudarno in verodostojno odločitev o naložbi.
Since the Commission had no detailed information on which shareholders had injected fresh money and which had accepted a loan-to-equity conversion, the Commission could not exclude the presence of an undue advantage to Estonian Air and thus took the preliminary view that measure 1 entailed unlawful State aid.
V zvezi z dejstvom, da je država upoštevala makroekonomske dejavnike, Estonija trdi, da odločitev države o naložbi ni bila sprejeta zgolj na podlagi navedenih dejavnikov.
As regards its compatibility with the internal market, the Commission noted that given the difficulties of the airline, only Article 107(3)(c) of the Treaty seemed applicable.
Estonija je predložila tudi vrednotenje letalskega prevoznika, ki ga je opravil višji ekonomski analitik Ministrstva za gospodarske zadeve in komunikacije, ki vsebuje skupno vrednost lastniškega kapitala podjetja Estonian Air po dodatni naložbi (na podlagi diskontiranih napovedanih denarnih tokov) v višini [0–10] milijonov EUR.
However, the Commission came to the preliminary view that this was not the case since measure 1 did not meet several of the criteria of the 2004 R&R Guidelines.
V zvezi z odločitvijo države, da bo v letih 2011 in 2012 vložila 30 milijonov EUR (ukrep 4), Estonija najprej navaja, da je bila leta 2011 napovedana razmeroma stabilna rast na vzhodnoevropskem trgu in da poleti 2011 na evropskem letalskem trgu še ni vladal kaos.
As regards measure 2, the Commission observed that, at the time of the sale, Tallinn Airport was 100 % owned by Estonia and that it lied within the jurisdiction of the Ministry of Economic Affairs and Communications, which seemed to indicate that the actions of Tallinn Airport could be deemed imputable to the State.
Poleg tega Estonija trdi, da skupina SAS ni bila udeležena pri ukrepu 4, ker se je takrat soočala z velikimi finančnimi težavami.
In addition, since no open, transparent and unconditional tender had taken place, the Commission could not automatically exclude the presence of an undue advantage to Estonian Air and came to the preliminary view that measure 2 entailed unlawful State aid.
V zvezi s posojilom […], ki naj bi se dodelilo letalskemu prevozniku, vendar na koncu ni bilo dodeljeno, Estonija meni, da ga je treba obravnavati ločeno od naložbe v kapital.
In relation to measure 3, the Commission first noted that it was not carried out on pari passu terms.
Estonija trdi tudi, da je imel leta 2011 lastniški kapital letalskega prevoznika visoko vrednost pred kapitalsko injekcijo in po njej.
It also highlighted that — as was the case for measure 2 — the contributions of the State and SAS had a different nature (fresh money from the State v conversion of debt from SAS) and were not of comparable amounts.
Čeprav Estonija priznava, da poslovni načrt iz leta 2011 ni bil uspešen in da je bil v sredini leta 2012 opuščen, trdi, da je država med sprejemanjem odločitve o izvedbi ukrepa 4 menila, da bo lahko letalski prevoznik ponovno dosegel rentabilnost.
As regards the 2010 business plan, the Commission doubted whether it could be regarded as sufficiently sound to conclude that a prudent private investor would have entered into the transaction in question on the same terms and also noted that Cresco had apparently disagreed with the plan and refused to inject additional money in the airline.
V zvezi s posojilom za reševanje (ukrep 5) Estonija meni, da so bili izpolnjeni vsi pogoji pomoči za reševanje iz smernic za reševanje in prestrukturiranje iz leta 2004.
Also, the Commission observed that Estonia had stated that the decision to increase capital in 2010 was taken in order to ensure the long-term flight connections to the most important business destinations and to gain control of the airline.
Kljub temu Estonija dodaja, da bi morala Komisija, če bo ugotovila, da je bilo kršeno načelo enkratnosti pomoči, upoštevati, da Estonian Air zadosti le 0,17 % prometa znotraj Evrope in da pomoč ne bo povzročila škodljivih učinkov prelivanja na druge države članice ali neupravičenega izkrivljanja konkurence.
On that basis, the Commission preliminarily concluded that measure 3 entailed unlawful State aid, which would be not be compatible with the internal market since it did not seem to respect the legal requirements of the 2004 R&R Guidelines, including a possible breach of the ‘one time, last time’ principle.
V svojih pripombah o sklepu o začetku postopka v zvezi s pomočjo za prestrukturiranje (ukrep 6) z dne 19. marca 2014 je Estonija ponovno navedla utemeljitve glede načela enkratnosti pomoči.
The Commission also assessed whether measure 4 would be in accordance with the market economy investor principle (‘MEIP’).
O ponovnem doseganju dolgoročne rentabilnosti podjetja Estonian Air Estonija meni, da bi morala Komisija dovoliti vključitev blažilnih ukrepov vodstva v analizo občutljivosti, saj tako delujejo običajna podjetja.
It first raised doubts as to whether the 2011 business plan was reliable and whether it was realistic to consider that only a bigger network and more frequencies, implying a capacity increase in terms of connections, fleet and staff, would improve the airline’s competitiveness.
Estonija je tudi pojasnila, kako so bili izračunani stopnja kritja 1 in prispevek DOC ter stopnja donosnosti prog, ki so bile ponujene kot izravnalni ukrepi (glej uvodno izjavo 79).
The Commission also observed that the forecast growth prospect of the 2011 business plan seemed overoptimistic and the proposed hub-and-spoke strategy appeared extremely risky, something which appeared to be confirmed by the fact that neither the remaining private shareholder (SAS) nor any private creditor ([…]) was willing to participate in the transaction.
Po navedbah Estonije stopnja kritja 1 določa marginalni prihodek od vsakega potnika, pri čemer se ne upoštevajo stroški leta, prispevek DOC pa določa prispevek potnika, vključno z vsemi variabilnimi stroški leta, vendar ne vključuje stroškov, povezanih z letalom, ali drugih režijskih stroškov.
In view of those considerations, the Commission came to the preliminary view that measure 4 entailed unlawful State aid and that it did not meet the criteria set out for rescue or restructuring aid under the 2004 R&R Guidelines.
Poleg tega Estonija trdi, da bi se morale proge šteti za sprejemljive izravnalne ukrepe, saj je bila njihova stopnja kritja 1 pozitivna, in zavrača trditev Komisije, da ukinjene proge ne bi bile donosne v okviru novega poslovnega modela.
Finally, as regards the rescue loan facility (measure 5), the presence of aid was not disputed by Estonia.
Glede lastnega prispevka Estonija pojasnjuje, da je poročilo o vrednotenju za prodajo letala realno in navaja podrobne podatke o prodajni ceni podjetja AS Estonian Air Regional in deleža podjetja Estonian Air v podjetju AS Amadeus Eesti.
The Commission preliminarily noted that the aid seemed to fulfil most of the criteria of Section 3.1 of the 2004 R&R Guidelines concerning rescue aid.
Pripombe zainteresiranih strani
However, the Commission had doubts as to whether the ‘one time, last time’ principle had been respected in view of the fact that measures 1 to 4 could have entailed unlawful and incompatible aid.
Glede sklepov o začetku postopka v zvezi s pomočjo za reševanje je Komisija prejela pripombe skupine IAG in letalskega prevoznika Ryanair.
Since the Estonian authorities did not provide any justification allowing for an exception to the ‘one time, last time’ principle, the Commission came to the preliminary view that measure 5 could be regarded as unlawful and incompatible aid.
Skupina IAG trdi, da nanjo vpliva pomoč za reševanje za Estonian Air zaradi njene naložbe v FlyBe in odnosa s podjetjem Finair.
For the part of the rescue loan not been disbursed at the time, namely EUR 12,1 million (see recitals 42 and 43 above), the Commission reminded Estonia of the suspensory effect of Article 108(3) of the Treaty.
Poleg tega meni, da povezljivost Estonije ne bi bila omejena, če bi se podjetje Estonian Air umaknilo s trga.
It added that Estonia should refrain from providing that amount to Estonian Air until the Commission had reached a final decision.
Izrazila je tudi pomisleke glede domnevne kršitve načela enkratnosti pomoči.
The restructuring aid opening decision
Ryanair pozdravlja formalno preiskavo Komisije v zvezi s pomočjo za reševanje za podjetje Estonian Air, zlasti zaradi neučinkovitosti podjetja Estonian Air v primerjavi z letalskim prevoznikom Ryanair.
On 20 June 2013, Estonia notified restructuring aid to Estonian Air of EUR 40,7 million in the form of equity on the basis of the restructuring plan (measure 6).
V zvezi z ukrepi od 1 do 5 Ryanair najprej navaja, da se je banka Cresco odločila, da se bo odpovedala svojemu deležu, kar je po njegovem mnenju očiten znak, da kapitalske injekcije niso bile skladne z načelom vlagatelja pod tržnimi pogoji.
The State-aid character of the measure was not disputed by Estonia, inter alia, given that the planned capital injection would come directly from the State budget and would exclusively benefit Estonian Air at conditions that a prudent market economy investor would normally not accept.
Navaja, da so nizkocenovni letalski prevozniki boljša možnost od nacionalnih letalskih prevoznikov, kot je Estonian Air, in da pravo EU ne priznava pravice vsake države članice do nacionalnega letalskega prevoznika.
The Commission then assessed the compatibility of measure 6 on the basis of the restructuring aid provisions of the 2004 R&R Guidelines.
Poleg tega Ryanair trdi, da je državna pomoč podjetju Estonian Air neposredno in bistveno vplivala na njegov tržni položaj in da zelo izkrivlja konkurenco.
The Commission then looked at whether the restructuring plan would allow Estonian Air to restore its long-term viability.
Zainteresirana stran, ki želi, da se njena identiteta ne razkrije, meni, da načrt prestrukturiranja podjetja Estonian Air ni verodostojen ali dosegljiv, saj je treba upoštevati njegove izredno visoke izgube leta 2012 in posledični delež čistega dobička v prodaji pod –50 %.
The Commission observed that the scenario analysis and the sensitivity analysis of the restructuring plan showed significant weaknesses.
V zvezi s prestrukturiranjem flote in dejavnosti zainteresirana stran meni, da načrti podjetja Estonian Air o uporabi dveh letal za čarterske lete niso izvedljivi, ker je navedeni trg zelo konkurenčen, in kritizira mešanico letal, ki bi sestavljala novo floto.
In particular, it noted that in the low case scenario, Estonian Air would reach a slightly positive EBT in 2017.
Zainteresirana stran navaja tudi, da izračun donosnosti prog, ki naj bi se štele za izravnalne ukrepe, kaže, da niso sprejemljive, in meni, da se na splošno pomoč za prestrukturiranje ne bi smela odobriti.
However, the net cash before financing would remain negative even after additional restructuring measures are adopted by the management of the airline (see Table 4).
Poleg tega je predložila tudi študijo primera za povezljivost Madžarske po propadu letalskega prevoznika Malév, na podlagi katere je ugotovila, da lahko trg ustrezno nadomesti propad nacionalnega letalskega prevoznika.
Moreover, the sensitivity analysis showed that relative minor changes in the assumptions would result, on a stand-alone basis, in the need for additional funding except in one case.
Ryanair najprej navaja, da bi morala Komisija oceniti, ali je imela Estonija poleg zagotovitve državne pomoči na voljo druge možnosti (kot je na primer likvidacija).
On that basis, the Commission doubted whether the original restructuring plan provided a sound basis for restoring the long-term viability of Estonian Air.
Trdi tudi, da so predpostavke iz načrta prestrukturiranja zelo optimistične, načrt pa obsojen na propad.
As regards the discontinuation of 12 routes considered as compensatory measures (see recital 54 above), it was unclear to the Commission how the ‘Level 1 contribution’, ‘DOC contribution’ and the profitability margin of those routes had been calculated.
Navaja tudi, da niso izpolnjeni pogoji iz smernic za reševanje in prestrukturiranje iz leta 2004, zlasti načelo enkratnosti pomoči.
The Commission noted that the difference between those profitability indicators was very pronounced and that it was unclear whether Estonian Air would have had to give up the routes in any event in order to return to viability.
Ponovno navaja tudi, da pomoč podjetju Estonian Air zelo škodi njegovemu tržnemu položaju.
In particular, the Commission noted that all routes had a negative profitability margin.
Pripombe Estonije o pripombah zainteresiranih tretjih strani
Also, if the Commission were to use the DOC contribution level to assess route profitability, only two routes — corresponding to a capacity decrease of around 1 % in terms of ASK — would have a DOC contribution level above 0 and would be acceptable.
Estonija je podrobno proučila trditve zainteresiranih strani.
In relation to the proposed own contribution of Estonian Air of EUR 38 million (or 48,3 % of the total restructuring costs of EUR 78,7 million), the Commission noted that it appeared in principle acceptable.
Glede pripomb skupine IAG o sklepih o začetku postopka v zvezi s pomočjo za reševanje Estonija navaja, da letalska prevoznika Estonian Air in FlyBe ne zagotavljata letov na ista letališča, zato nista konkurenta.
However, the Commission expressed doubts on the sale of three aircraft CRJ900 in 2015, the sale of AS Estonian Air Regional and the sale of Estonian Air’s 51 % stake in Eesti Aviokütuse Teenuste AS.
Glede pripomb o povezljivost države meni, da bi umik podjetja Estonian Air s trga vplival na povezljivost države, in trdi, da nizkocenovni letalski prevozniki ne zagotavljajo povezljivosti, ki je pomembna za Estonijo.
The Commission nonetheless considered that the sale of property, a new loan from […] and the sale of Estonian Air’s 60 % stake in AS Amadeus Eesti could be accepted as own contribution.
Glede pripomb podjetja Ryanair na sklepa o začetku postopka v zvezi s pomočjo za reševanje navaja, da učinkovitosti nizkocenovnih letalskih prevoznikov ni mogoče primerjati z učinkovitostjo regionalnih letalskih prevoznikov.
Finally, the Commission recalled its doubts in the rescue aid opening decisions as regards the compatibility of measures 1 to 5, which could lead to a breach of the ‘one time, last time’ principle.
V zvezi z razlogi, na podlagi katerih je država sprejela odločitev o naložbi v letalskega prevoznika, navaja, da je donosen in trajnosten letalski prevoznik izredno pomemben, saj Estoniji zagotavlja redne in zanesljive povezave s številnimi državami, ki so ključne gospodarske trgovske partnerice Estonije, te vloge pa ne izpolnjuje nobeden od glavnih konkurentov letalskega prevoznika.