1.7.2014 Official Journal of the European Union L 192/1 II (Non-legislative acts) REGULATIONS COUNCIL REGULATION (EU) No 721/2014 of 16 June 2014 amending Regulation (EC) No 219/2007 on the establishment of a Joint Undertaking to develop the new generation European air traffic management system (SESAR) as regards the extension of the Joint Undertaking until 2024 (Text with EEA relevance) THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Articles 187 and 188 thereof, Having regard to the proposal from the European Commission, Having regard to the opinion of the European Parliament (Y), Having regard to the opinion of the European Economic and Social Committee (3), Whereas: (1)  The Single European Sky Air Traffic Management Research and Development project (the ‘SESAR project) aims to modernise the air traffic management (ATM’) in Europe and represents the technological pillar of the Single European Sky ('SES’). It aims to provide the Union with a high performance air traffic control infrastructure by 2030 which will enable the safe and environmentally friendly development of air transport. (2)  The SESAR project is comprised of three interrelated, continuous and evolving collaborative processes: the defini- tion of the content and priorities, the development of new technological systems, components and operational procedures of the SESAR concept, and the deployment plans of the next generation of ATM systems contributing to the achievement of the Single European Sky performance targets. (3)  The first phase of the definition process ran from 2004 to 2008 and delivered the SESAR ATM Master Plan (D5) which was the base for the first edition of the European Air Traffic Management Master Plan (the ‘ATM Master Plan’) endorsed by the Council on 30 March 2009. The ATM Master Plan identifies three steps in the SESAR development process: Time Based operations (Step 1), Trajectory Based Operations (Step 2) and Performance Based Operations (Step 3). The ATM Master Plan is the agreed roadmap to bring ATM research and development to the deployment phase. (4)  The SESAR Joint Undertaking (the Joint Undertaking’) was set up by Council Regulation (EC) No 219/2007 (), for the purpose of managing the activities of the development process of the SESAR project under the Union’s 2007-2013 financial framework. The main task of the Joint Undertaking is the execution of the ATM Master Plan. (") Opinion of 15 April 2014 (not yet published in the Official Journal). (*) Opinion of 10 December 2013 (not yet published in the Official Journal). () Council Regulation (EU) No 219/2007 of 27 February 2007 on the establishment of a Joint Undertaking to develop the new generation European air traffic management system (SESAR) (OJ L 64, 2.3.2007, p. 1).