United Kingdom
United States
Asia Pacific
Swiss secures future
Friday, 01 Nov, 2004
0
Swiss has secured a £147.5 million loan for the next three years.
The Swiss national carrier closed the credit agreement with an international banking syndicate for a CHF325 million secured credit facility this weekend.
The airline plans to use the loan, CHF180 million of which will be directly available, to strengthen its position in the European market under increasing pressure from no-frills airlines.
Chief executive Christoph Franz said: “With our enhanced liquidity base, we will now be able to take the steps required to further strengthen our competitive position.”
The banking syndicate comprises Halifax Bank of Scotland, Barclays Capital, Credit Suisse, UBS and the Zurich Cantonal Bank.
Report by Ginny McGrath
Related News Stories:
Ginny McGrath
Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns
James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel
Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination
Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics
Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy
Bubba O’Keefe on Clarksdale’s Vibrant Music Scene
Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee
Craig Ray and the Expansion of the Blues Trail
Presenting Mississippi’s Cultural Trails with Katie Coats
Robert Terrell: A Journey Through BB King’s Influence
Rochelle Hicks: Celebrating Mississippi’s Musical Legacy
Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
Dozens fall ill in P&O Cruises ship outbreak
Turkish Airlines flight in emergency landing after pilot dies
Boy falls to death on cruise ship
Protestors now targeting Amsterdam cruise calls
Unexpected wave rocks cruise ship