Swiss government works with UBS, Credit Suisse on aviation sector loans

The Swiss government is working primarily with UBS Group (UBSG.S) and Credit Suisse (CSGN.S) on a nearly 1.9 billion Swiss franc ($1.95 billion) package of state-backed loans for the coronavirus-hit aviation sector, it said on Wednesday.

The government held tough negotiations with German airline group Lufthansa (LHAG.DE) on maintaining levels of service and jobs before agreeing the package, with includes help for Lufthansa group carriers Swiss and Edelweiss, President Simonetta Sommaruga told a news conference in Bern.