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Loans for CHF 1.5 billion Swiss and federal government sign state aid contracts
Posted by
Otto Knotzer on August 24, 2020 - 6:24pm
Swiss and Edelweiss have waited a long time for the money: Now they can get loans of 1.5 billion francs from the banks.
Publiziert: 21.08.2020, 19:03
Aircrafts of the Swiss Airline are parked on the tarmac of Cointrin Airport during the coronavirus disease (COVID-19) outbreak in Geneva, Switzerland April 1, 2020. REUTERS / Denis Balibouse
REUTERS
Now the money urgently needed by the airlines Swiss and Edelweiss can flow. The two airlines as well as banks and the federal government had signed the contracts for the financial aid, announced the Federal Department of Finance (FDF) on Friday evening.
The German Economic Stabilization Fund (WSF) paved the way for this at the beginning of the week. He approved the € 9 billion rescue package for the Lufthansa Group and also agreed to the Swiss federal guarantees for the Lufthansa subsidiaries Swiss and Edelweiss.
