What conditions did the Federal Council attach to aid
President Simonetta Sommaruga formulated four conditions cover fendi iphone 7 two weeks ago. First, guarantees should only be given if the companies cannot cover their liquidity needs in any other way. In the uncertain situation, banks shy away from lending money to airlines. Second, aid must be proportionate to the commitment of the parent company, Deutsche Lufthansa.
If the 9 billion that the German government plans to support Lufthansa with is roughly correct, this condition should be fulfilled; Swiss generates around a quarter of Lufthansa and Eurowings sales together. Third, supported companies are not allowed to pay dividends. And fourthly, market compliant interest should be paid. However, this last condition can be referred to in the realm of fairy tales, as knocking on the door makes iphone s6 cover it clear that it was not possible to stock up on the market with liquidity on the terms agreed with Bern and Berlin.
Does the Swiss mother Lufthansa have other options than accepting state aid
Lufthansa is currently playing poker in negotiations with the German government and is also examining bankruptcy under its own management. The management wants iphone cover amazon to keep the future influence of the state as low as possible. While on Tuesday morning (April 28) the first reports of an power bank cover iphone alleged agreement between the airline and the federal government made the rounds, the management of the corporation, which was very badly affected by the corona crisis, is thinking aloud about a possible insolvency, which, according to the example of Condor, will be managed in house could. The company would then be placed under the supervision of an administrator and could undertake cover ricaricabile iphone 4s come funziona the restructuring under the previous management. There would be the opportunity to get rid of numerous obligations towards suppliers and other creditors. The pension burdens and unfavorable collective agreements are also available in this scenario.
However, the Group is running out of time to TWENTY ONE PILOTS SIT IN SILENCE Cover Samsung Galaxy S6 Edge Plus get such a procedure with assets at all. Lufthansa airlines currently only fly around 1% of the usual program due to the corona restrictions. Despite massive short time working, many fixed costs continue, so that the company loses around 1 million in liquidity every hour and the reserves of more than 4 billion melt.
What are the positions of the federal government to support Swiss aviation
When asked by journalists, Federal President Simonetta Sommaruga, who otherwise propagates journeys THE WEEKND XO LOGO Cover Samsung Galaxy S6 Edge Plus on night trains, clearly emphasized the importance of airlines, ancillary operations and airports: The focus now is: what needs to be done to ensure that this critical infrastructure is retained It primarily about jobs and that Switzerland connection is still guaranteed.
This corresponds to the stance of the 2016 report on Swiss aviation policy (Lupo 2016): Civil aviation is extremely important for Switzerland. It ensures Switzerland connection to Europe and the world. With an economic output of almost CHF 10 billion (direct and indirect effects) and over 50,000 full time positions, it contributes significantly to cover puro iphone 6 0.3 Switzerland prosperity.
The importance of aviation for Switzerland is also evident during the current crisis: the Confederation, together with Swiss and Edelweiss 4100 people flew home. Swiss also uses part of its long haul aircraft as a freighter to transport protective masks and other medical goods to Switzerland on behalf of the army pharmacy. Over 20.3 million units of protective gear were transported. That is why he supports the Federal Council intention to save Swiss, but also the rest of the industry: is not a question of self negligence, but of external influences. In terms of conditions, THE LEGEND OF ZELDA ADVENTURE Cover Samsung Galaxy S6 Edge Plus however, he is reluctant. At most, the requirement is that the airlines should focus their fleet policy on more climate friendly aircraft: they are already doing so. The Zurich National Councilor Marionna Schlatter (gp.) Writes on Twitter: A rescue without climate requirements is an affront to the people at the Klimademos. And against the knowledge of science.
A rescue without climate requirements is an affront to the people at the climate museums. And against the knowledge of science. These are generously extrapolated numbers. They come from a 2016 Federal Council report on Switzerland aviation policy. According to that report, the direct added value of the industry in 2014 (including airlines, airports, handling companies and shops on the airport areas) was CHF 8.2 billion. The industry employed a good 44,000 people, equivalent to full time positions. Measured in terms of both employment and value added, it accounted for around 1.2 to 1.3% of the Swiss economy.
The Federal Council also added indirect effects; These include suppliers, TRIFORCE ZELDA ZINE Cover Samsung Galaxy S6 Edge Plus demand from wage earners, domestic spending by passengers cover iphone 5s coniglio traveling to Switzerland by plane, and increased attractiveness as a result of the country connection to international air traffic. The latter factor is particularly difficult to cover mano di fatima iphone 5 estimate; an external study attempted such an estimate in cover iphone 6 plus panda 2011, on which the Federal Council subsequently relied.
Overall, the Federal Council came to the above mentioned overall impact of the aviation industry, which is three to four times the direct impact. This exaggerates the importance of the industry: cover iphone 6s chic If one calculates similarly for all other iphone 7 senza cover industries, the sum of all effects would result in a multiple of the effective employment and economic performance in Switzerland.
What speaks for a rescue, what against
The usual argument goes like this: The Swiss economy has cover e vetro iphone 7 many corporate headquarters. An international connection, which is guaranteed by Swiss, is correspondingly important. The many intercontinental connections in particular benefit the business location. However, this argument is not entirely convincing. If the Swiss market is so lucrative, other airlines should be interested UNDER ARMOUR LOGO RED Cover Samsung Galaxy S6 Edge Plus in serving this demand after a possible bankruptcy.
A more important argument in the current crisis is therefore that if you let Swiss (and the system suppliers at the airport) go bankrupt, you would destroy a business model that worked perfectly until the pandemic broke out. This is a big difference to Swissair, which had suffered high losses almost twenty years ago. In principle, Swiss people like large parts of the rest of the economy want to for a few months and again as soon as the pandemic is over. However, you will have to talk about TORONTO MAPLE LEAFS WILLIAM NYLANDER Cover Samsung Galaxy S6 Edge Plus the cover legno iphone 5 teschio messicano size of the fleet, as the airline business may be damaged over a long period. In the case of Swissair, grants of over CHF 1 billion had also been made to maintain Switzerland connection. This money was gone there is no such gift this time.
Why should Switzerland support companies that are foreign owned
Swiss is part of the German Lufthansa group. He himself has big problems and is negotiating with the German state about a rescue package, which should also include a state stake in Lufthansa in addition to a billion dollar loan. Most of the economic benefits for Switzerland from companies with work in this cover gialla iphone 6s country can also arise if the companies are foreign owned; This applies, for example, to jobs, domestic investments, the benefits for customers, the demand for suppliers and, in the case of aviation, also to the attractiveness of Switzerland as a business location.
Switzerland saved UBS in 2008 and 2009, even though the major bank was and still is foreign owned. Both major Swiss banks are still considered important in Switzerland today, although amazon cover iphone 5 silicone the majority of their shares belong to foreigners. A difference to companies in domestic ownership is the outflow of any profits abroad. The Federal Council wants to counter this “risk" by attaching conditions to federal guarantees for Swiss loans cover simpson iphone 7 such as guaranteeing that these funds do not flow to the foreign parent company.
Shouldn shareholders expect such extreme events
Shareholders are compensated for taking on rare risks such as wars, natural disasters or revolutions in good times through high extra returns. At least that what the liberal argues Harvard economist Robert Barro. If you transfer this to airline owners, it means that the owners can expect business interruptions, such as the volcanic eruption on Iceland in 2010 or previous epidemics that led to restrictions in air traffic…