DALLAS – SWISS International Air Lines AG (LX) has announced that it has terminated its bank loan facility before the end of the term.
The loan, 85% guaranteed by the Swiss Confederation, was issued to protect the airline following the pandemic outbreak in March 2020 and was due to end in 2025.
As part of the Lufthansa Group, LX was also supported with a CHF500m loan from its parent. During one of the worst downturns in aviation history,
Cost-Saving Measures
SWISS initiated extensive cost-saving measures to protect its financial position. This saw read more ⇒
Source:: “Airways Magazine”