Commission Decision (EU) 2015/1091 of 9 July 2014 on the measures SA.34191 (2012/... (32015D1091)
Commission Decision (EU) 2015/1091 of 9 July 2014 on the measures SA.34191 (2012/C) (ex 2012/NN) (ex 2012/CP) implemented by Latvia for A/S Air Baltic Corporation (airBaltic) (notified under document C(2014) 4552) (Text with EEA relevance)
- COMMISSION DECISION (EU) 2015/1091
- of 9 July 2014
- on the measures SA.34191 (2012/C) (ex 2012/NN) (ex 2012/CP) implemented by Latvia for A/S Air Baltic Corporation (airBaltic)
- (notified under document C(2014) 4552)
- (Only the English text is authentic)
- (Text with EEA relevance)
- 1.
- PROCEDURE
- 1.1. THE PRE-NOTIFICATION — SA.33799 (2011/PN)
- 1.2. THE COMPLAINTS — SA.34191 (2012/C) (ex 2012/NN) (ex 2012/CP)
- 2.
- THE LATVIAN AIR TRANSPORT MARKET
- 3.
- THE BENEFICIARY
- 4.
- DESCRIPTION OF THE MEASURES
- 4.1. THE 3 OCTOBER 2011 AGREEMENT: THE FIRST STATE LOAN AND THE BAS LOAN
- 4.2. THE SECOND STATE LOAN OF 13 DECEMBER 2011
- 4.3. AIRBALTIC'S CAPITAL INCREASE AGREED ON 22 DECEMBER 2011
- 4.4. THE COMPLAINT FROM BAS AND SUBSEQUENT EVENTS
- 4.4.1.
- The ‘reShape’ plan of March 2012
- 4.5. THE COMPLAINT OF 18 JULY 2012
- 5.
- THE OPENING DECISION
- 6.
- COMMENTS ON THE OPENING DECISION
- 6.1. COMMENTS FROM LATVIA
- 6.2. COMMENTS FROM INTERESTED PARTIES
- 6.3. OBSERVATIONS FROM LATVIA ON THE COMMENTS OF INTERESTED THIRD PARTIES
- 7.
- ASSESSMENT OF THE MEASURES
- 7.1. DIFFICULTIES OF AIRBALTIC
- 7.2. EXISTENCE OF STATE AID
- 7.2.1.
- Measures 1, 2, 3 and 6 as a single transaction
- 7.2.2.
- The first State loan (measure 1)
- 7.2.3.
- The second State loan (measure 2)
- 7.2.4.
- The capital increase agreed on 22 December 2011 (measure 3)
- 7.2.5.
- The 0 %-coupon bonds (measure 4)
- 7.2.6.
- The EUR 2,8 million payments by Latvijas Krājbanka (measure 5)
- 7.2.7.
- The EUR 5 million claim from Taurus attributed to airBaltic (measure 6)
- 7.2.8.
- Conclusion on the existence of aid
- 7.3. LEGALITY OF THE AID
- 7.4. COMPATIBILITY OF THE AID
- 7.4.1.
- Eligibility
- 7.4.2.
- The validity of the restructuring plan
- 7.4.3.
- Restoration of long-term viability
- 7.4.4.
- Avoidance of undue distortions of competition (compensatory measures)
- 7.4.5.
- Aid limited to the minimum (own contribution)
- 7.4.6.
- The ‘one time, last time’ principle
- 7.5. CONCLUSION AS REGARDS MEASURES 2, 3 AND 6
- Article 1
- Article 2
- Article 3
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