UBS, Credit Suisse and Crossair have signed the cornerstone of the credit contract of more than CHF 500 million for Crossair. This provides Crossair with the means to expand its route network.
CHF 100 million is immediately available and has been approved by the Crossair Administrative Board. A further CHF 100 million will be released when the Business Plan has been accepted by the Crossair Board and the banks. Additional tranches will be released to meet Crossair needs in accordance with later stages of the Business Plan.
Work on Project Phoenix for the expansion of Crossair is continuing at full speed