SWISS gets government loan

Leisure airline Edelweiss and sister company SWISS have issued a statement thanking the Federal Council's decision to provide the division of the Lufthansa Group with the necessary liquidity to survive the impact of the corona crisis.

With a bank loan of CHF 1.5bn, 85% guaranteed by the Government and subject to strict conditions, support from Lufthansa, the parent company, and drastic savings measures already adopted by SWISS and Edelweiss, the liquidity required for both airlines should be assured it noted.

“SWISS and Edelweiss welcome the fact that the financial support negotiated at short notice with the Swiss Government and the bank consortium can now be presented to the Federal Assembly for approval."

The loan, which will also benefit airline-related operations, would allow the gradual restoration of vital passenger and cargo links between Switzerland and the rest of the world, so important in terms of the national economy.
 
The airlines made it very clear that they will not be commenting further on this matter at the present time.  Other struggling European carriers, notably Ryanair, have taken note.

www.flyedelweiss.com

www.swiss.com

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