Commission Decision (EU) 2015/1469 of 23 July 2014 on State aid SA.30743 (2012/C)... (32015D1469)
Commission Decision (EU) 2015/1469 of 23 July 2014 on State aid SA.30743 (2012/C) (ex N 138/10) — Germany — Financing of infrastructure projects at Leipzig/Halle airport (2) (notified under document C(2014) 5071) (Only the English text is authentic) (Text with EEA relevance)
- COMMISSION DECISION (EU) 2015/1469
- of 23 July 2014
- on State aid SA.30743 (2012/C) (ex N 138/10) — Germany — Financing of infrastructure projects at Leipzig/Halle airport (2)
- (notified under document C(2014) 5071)
- (Only the English text is authentic)
- (Text with EEA relevance)
- 1.
- PROCEDURE
- 2.
- DESCRIPTION OF THE MEASURES
- 2.1. BACKGROUND TO THE INVESTIGATION AND THE INFRASTRUCTURE PROJECT
- 2.1.1.
- Leipzig/Halle airport
- 2.1.2.
- The overview of the infrastructure investment programme
- 2.2. MEASURES UNDER INVESTIGATION AND GROUNDS FOR INITIATING THE FORMAL INVESTIGATION PROCEDURE
- 2.2.1.
- Shareholder loans in favour of FLH
- 2.2.2.
- Capital injections into FLH
- 2.2.3.
- Compatibility of aid
- 3.
- COMMENTS FROM GERMANY
- 3.1. CONTEXT OF THE INVESTIGATED MEASURES
- 3.2. NOTION OF ECONOMIC ACTIVITY AND PUBLIC POLICY REMIT
- 3.2.1.
- Notion of economic activity and applicability of State aid rules to airport infrastructure
- 3.2.2.
- Public policy remit
- 3.3. FINANCING OF THE INFRASTRUCTURE THROUGH FLH’S SHAREHOLDER LOANS
- 3.3.1.
- Financing conditions
- 3.3.2.
- Application of market comparators to identify the market rate of FLH
- 3.3.3.
- Credit rating of MFAG/FLH
- Table 4
- Rating of MFAG in 2006-12
- 3.3.4.
- Loss given default (LGD) assessment
- 3.3.5.
- No advantage gained from capital injections
- 3.4. COMPATIBILITY OF AID
- 3.4.1.
- Well-defined objective of common interest
- 3.4.2.
- Need for State intervention
- 3.4.3.
- Appropriateness of the aid measure
- 3.4.4.
- Incentive effect
- 3.4.5.
- Proportionality of the aid (aid limited to the minimum)
- 3.4.6.
- Avoidance of undue negative effects on competition and trade between Member States
- 4.
- COMMENTS FROM THIRD PARTIES
- 4.1. MITTELDEUTSCHE AIRPORT HOLDING (MFAG)
- 4.1.1.
- Notion of economic activity and public policy remit
- 4.1.2.
- Market conformity of FLH’s shareholder loans
- 4.1.3.
- Compatibility of the aid
- 4.2. ARBEITSGEMEINSCHAFT DEUTSCHER VERKEHRSFLUGHÄFEN (ADV)
- 4.3. DEUTSCHE FLUGSICHERUNG (DFS)
- 4.4. SHAREHOLDER OF MFAG OR/AND FLH
- 4.4.1.
- Landkreis Nordsachsen
- 4.4.2.
- Stadt Dresden
- 4.4.3.
- Stadt Leipzig
- 4.5. AIR CARGO FORWARDERS AND EXPRESS PARCEL DELIVERY COMPANIES
- 4.5.1.
- European Air Transport Leipzig (EAT)
- 4.5.2.
- Lufthansa Cargo
- 4.5.3.
- Emons Spedition
- 4.5.4.
- Spero Logistics Europe
- 4.5.5.
- Deutsch Russische Wirtschaftsallianz e.V. (German-Russian Economic Alliance)
- 4.5.6.
- Other freight forwarders and associations
- 4.6. PASSENGER AIRLINES AND TOURISM ASSOCIATIONS
- 4.6.1.
- Germanwings
- 4.6.2.
- Other airlines and tourism associations
- 4.7. UNDERTAKINGS LOCATED IN THE PROXIMITY OF THE AIRPORT AND ASSOCIATIONS
- 4.7.1.
- BMW Werk Leipzig (BMW)
- 4.7.2.
- EADS Elbe Flugzeugwerke (EADS)
- 4.7.3.
- European Energy Exchange AG (EEX)
- 4.7.4.
- Industrie- und Handelskammer Halle-Dessau (Halle-Dessau Chamber of Trade and Industry) (IHK)
- 4.7.5.
- Other associations
- 4.8. SCHKEUDITZ CITIZENS’ ‘ANTI-NOISE’ INITIATIVE
- 5.
- COMMENTS FROM GERMANY ON THIRD PARTY COMMENTS
- 6.
- ASSESSMENT
- 6.1. NOTION OF UNDERTAKING AND ECONOMIC ACTIVITY
- 6.1.1.
- Notion of undertaking
- 6.1.2.
- Activities falling within public policy remit
- 6.1.3.
- Conclusion
- 6.2. AID NATURE OF THE SHAREHOLDER LOANS IN FAVOUR OF FLH
- 6.2.1.
- Relation between the shareholder loans and the capital injections
- 6.2.2.
- Economic advantage
- 6.2.3.
- Conclusion
- 6.3. AID NATURE OF THE CAPITAL INJECTIONS IN FAVOUR OF FLH
- 6.3.1.
- State resources and imputability to the State
- 6.3.2.
- Economic advantage
- 6.3.3.
- Selectivity
- 6.3.4.
- Distortion of competition and effect on trade
- 6.3.5.
- Conclusion
- 6.4. LAWFULNESS OF THE AID
- 6.5. COMPATIBILITY OF AID
- 6.5.1.
- The applicable legal framework
- 6.5.2.
- Compatibility assessment
- 6.5.2.1.
- Contribution to a well-defined objective of common interest
- 6.5.2.2.
- Need for State intervention
- 6.5.2.3.
- Appropriateness of the aid measure
- 6.5.2.4.
- Incentive effect
- 6.5.2.5.
- Proportionality of the aid (aid limited to the minimum)
- 6.5.2.6.
- Avoidance of undue negative effects on competition and trade between Member States
- 6.5.2.7.
- Transparency of aid
- 6.5.3.
- Conclusion
- 7.
- CONCLUSION
- Article 1
- Article 2
- Article 3
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