With the help of Corona, the government also earns money!
The federal government has made profits supporting aviation during the pandemic. According to the Federal Finance Control (CDF), it generated around 32 million francs in August 2021.
The corona pandemic has hit one industry particularly hard: air transport.
Sometimes nothing worked. Aviation has been particularly affected by the Corona pandemic. The federal government rushed to his aid – and now, in retrospect, has even made a profit. According to the Federal Finance Control (CDF), it generated around 32 million francs in August 2021.
The Confederation has guaranteed loans of 1.275 billion francs to the airlines. It provided a total of 600 million francs for aviation-related work. It gave a default guarantee of up to 79 million francs to SR Technics (SRT).
In the summer of 2020, contracts were signed with Swiss and SRT, as the CDF wrote in a report published on Monday. At the end of August 2021, 32 million francs had been received thanks to his commitment to the Confederation.
Monitoring needs to be improved
Interest was payable on the loan contracted. The so-called commitment fee, a provisioning fee, at the conclusion of the contract, is due to the canceled credit limit and a one-time participation fee, i.e. participation fee. The federal government receives a portion of these revenues. Swiss and its subsidiary Edelweiss repaid the secured loan in early June 2022.
In addition to pleasant advantages, the Federal Audit Office also points to shortcomings. The Federal Office for Civil Aviation (Bazel) was responsible for overseeing aviation support during the pandemic. According to the EFZ, however, it lacked a risk-based supervision concept and formal quality assurance, despite an appropriate organization and clear regulations.
The Confederation defends itself against criticism
The CDF also doubts the independence and usefulness of the Aviation Foundation, created in 2020 and since dissolved. This was to verify whether Swiss and Edelweiss had complied with the location requirements for secured loans.
The criticism of the foundation, which represented the federal government, for Buzzle is incomprehensible. In its 2021 annual report and in the final report, the Luftfahrsstiftung found that Swiss and Edelweiss had fulfilled the conditions during the loan period, Basel wrote in a statement. (na)