Grounding in the state budget Swissair leaves a huge hole in the federal coffers - to this day
Even years after the grounding of Swissair, the Confederation is still receiving payments from the bankruptcy estate. But the end of these repayments is in sight and the last substantial amount has probably already been paid out.
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- Swissair, Switzerland's former national airline, went bankrupt in 2001.
- For over 20 years, money from the liquidation has been flowing back to the federal government, which had given Swissair a loan of CHF 1.15 billion.
- The last major amount of CHF 14 million was received in 2024. Despite this, the liquidation process is dragging on - partly due to a legal dispute with subsidiary Sabena Airlines.
Swissair, once a symbol of Swiss aviation, is still leaving its mark on the federal treasury years after its grounding. Last year, it received another CHF 14 million from the bankruptcy estate. However, this payment could be the last significant one it receives from the former airline. This was revealed by the newspaper "Blick".
The Swiss Confederation has lost a total of 751 million francs through Swissair. The main reason for this is a loan of CHF 1.15 billion granted by the Confederation to the ailing airline. Of this amount, CHF 220 million was initially repaid, followed by a further CHF 193 million in various tranches.
The Swiss Federal Finance Administration states that the liquidation of Swissair is not yet complete. Nevertheless, expectations of further significant returns are low. The Confederation only expects to receive a single-digit million amount before the Swissair chapter is finally closed.
Legal dispute with Belgian Sabena Airlines
One reason for the delay in the liquidation proceedings is an ongoing legal dispute with the Belgian airline Sabena, which also belonged to the SAir Group and went under with Swissair.
This dispute, which concerns an amount of 20 million euros, has been pending for two years before the Belgian Supreme Court. Swissair liquidator Karl Wüthrich expects that it could still take some time before a decision is reached.
While Swissair remains on the federal government's books, the end of the SAir Group, Swissair's former parent company, is approaching. The competent court has approved the liquidator's final report. Wüthrich assumes that the deletion of the SAir Group from the commercial register can be applied for by the end of July. This would mean that the former Swiss flagship company would finally be history, some 25 years after the grounding of Swissair in October 2001.
