Lake Geneva Shipping Company Needs Over CHF500 Million

2025-06-10 04:07:42

(MENAFN- Swissinfo) The Lake Geneva shipping company CGN needs CHF500 million ($608 million) to CHF600 million to modernise its fleet and expand its services. A rescue plan is to be presented to shareholders by the end of the year. This content was published on June 10, 2025 - 09:35 2 minutes Keystone-SDA

Deutsch de Genfersee-Schifffahrt braucht über 500 Millionen Franken Original Read more: Genfersee-Schifffahrt braucht über 500 Millionen Franke

+Get the most important news from Switzerland in your inbox

“We need CHF150 million for the shipyard, CHF150 million for the Belle Epoque ships and CHF200-300 million to expand public transport services,” CGN Director General Vincent Pellissier told Swiss public television, RTS, on Sunday.

Six of CGN's eight steamboats are no longer fit to sail, he said. The ship“La Suisse”, for example, has been lying on the quay for several days due to damage. This incident has led to 3,000 cancellations and inevitably to dissatisfaction, he said.

+Lake Lucerne steamboat first Swiss 'Treasure of European Film Culture'

The accident involving the“Simplon” in the harbour of Cully had already caused a stir last year.

The rescue plan for CGN is to be presented to the shareholders by the end of this year. These include the cantons of Geneva, Vaud and Valais, which hold 57% of the shares in the company, RTS said.

Translated from German by DeepL/ts

We select the most relevant news for an international audience and use automatic translation tools to translate them into English. A journalist then reviews the translation for clarity and accuracy before publication.

Providing you with automatically translated news gives us the time to write more in-depth articles. The news stories we select have been written and carefully fact-checked by an external editorial team from news agencies such as Bloomberg or Keystone.

If you have any questions about how we work, write to us at ...

Popular Stories More Demographics How retiring baby boomers could crash Swiss property market Read more: How retiring baby boomers could crash Swiss property marke

MENAFN10062025000210011054ID1109654631

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.