After the state aid for the Lufthansa subsidiaries Swiss and Edelweiss decided by the Swiss parliament, the airlines are relieved today. In Austria, the Lufthansa subsidiary AUA is still negotiating state aid.
“Swiss and Edelweiss are grateful for this clear sign and we see it as an incentive to promptly reconnect the Swiss economy, politics, society and tourism with the important global trade centers and holiday destinations,” said Thomas Klühr, head of Swiss and Chairman of the Board of Directors of Edelweiss.
The second chamber of parliament had also recently approved the government’s planned loan guarantees. In total, Swiss and Edelweiss can obtain loans amounting to CHF 1.5 billion (EUR 1.43 billion) from a bank consortium. The federal government guarantees 85 percent of this – just under CHF 1.3 billion. He secured the entire share capital of Swiss as a guarantee in the event that the loans granted could no longer be serviced.
Swiss is opting for a European solution for the reimbursement of money for canceled flights to tour operators. If not found, the airlines would refund the money by law by September 30, 2020, the airlines said.
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