On June 9, 2022, the Swiss government announced that SWISS had repaid the loan guaranteed by the Union at the end of May 2022 and completed the arrangement without losing public funds.
After the Covid-19 pandemic had a serious impact on the aviation industry, the Swiss Federal Council announced in the spring of 2020 that it would provide airlines SWISS and Edelweiss with support in the form of guarantees to fill the liquidity deficiency. Decided. The bank granted Switzerland and Edelweiss a credit line of up to CHF 1.5 billion over a period of 5 to 7 years. The coalition then guaranteed 85% of the default risk.
The airline repaid the full amount earlier than planned at the end of May 2022. The relevant contract was fully terminated on June 7, 2022. As a result, SWISS and Edelweiss have lost their state-guaranteed credit lines. For the duration of the arrangement, the state received interest and fee income totaling approximately CHF 50 million in compensation for the risks taken.
Treasury Minister Ueli Maurer said he was grateful for Switzerland’s constructive cooperation. In his view, good relationships and mutual trust were rewarded.
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