Swiss repays corona credit early

Airbus A330-300 (Photo: Pixabay).
Airbus A330-300 (Photo: Pixabay).

Swiss repays corona credit early

Airbus A330-300 (Photo: Pixabay).
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Swiss stumbled during the pandemic - a guarantee from the federal government flushed fresh money into the coffers. Now the Lufthansa subsidiary has already repaid the loan.

The group repaid a bank loan guaranteed by the federal government ahead of schedule. The Lufthansa Group will in future secure financing via the capital market, as the company announced on Thursday. Actually, this would have continued until 2025. This credit line was granted in spring 2020 in connection with the corona pandemic, which caused major problems for air traffic.

The banks granted Swiss and Edelweiss a credit line of up to CHF 1,5 billion. The federal government guaranteed 85 percent of the default risk – i.e. a maximum of CHF 1,275 billion. Since the beginning of the pandemic, Swiss has “never used more than half of the bridging loan and paid a total of 60 million francs in interest and fees,” as the company writes.

“We are very grateful to the federal government that, together with the Swiss and Edelweiss banks, it provided the liquidity needed during the corona pandemic. As a result, we were able to secure a large part of the jobs in Switzerland and sustainably competitive cost structures, as well as maintaining our connection to the world even during the pandemic. In addition, we were able to ramp up our hub in Zurich in line with the other hubs of the Lufthansa Group and develop our flight offering proportionally," says Swiss CEO Dieter Vranckx.

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Granit Pireci is an editor at Aviation.Direct and specializes in aviation in Southeast Europe. Before that he worked for AviationNetOnline (formerly Austrian Aviation Net).

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Granit Pireci is an editor at Aviation.Direct and specializes in aviation in Southeast Europe. Before that he worked for AviationNetOnline (formerly Austrian Aviation Net).

Nobody likes paywalls
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Information should be free for everyone, but good journalism costs a lot of money.

If you enjoyed this article, you can check Aviation.Direct voluntary for a cup of coffee Coffee trail (for them it's free to use).

In doing so, you support the journalistic work of our independent specialist portal for aviation, travel and tourism with a focus on the DA-CH region voluntarily without a paywall requirement.

If you did not like the article, we look forward to your constructive criticism and / or your suggestions for improvement, either directly to the editor or to the team at with this link or alternatively via the comments.

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