Tag Archives: Editor’s Choice

On 7 June 2022, Swiss International Air Lines announced that around 2% of passengers on scheduled flights to destinations in Germany, Poland, UK and Los Angeles would be affected. A SWISS spokesperson said that bottlenecks at air control centres, ground and airport services in Europe and at SWISS were to blame. Personnel shortages at the airline are also reducing capacity. SWISS said around 10,000 passengers would need to make other travel arrangements while around 20,000 others would...

On 9 June 2022, Switzerland’s government announced that SWISS had repaid the loans the Confederation had guaranteed at the end of May 2022, ending the arrangement with no loss of public funds. After the Covid-19 pandemic severely impacted the aviation industry, Switzerland’s Federal Council decided in spring 2020 to provide support in the form of guarantees to the airlines SWISS and Edelweiss to bridge liquidity shortfalls. Banks granted SWISS and Edelweiss a credit line of up to CHF 1.5...

On 2 June 2022, Switzerland’s parliament adopted two motions to accelerate the adoption of solar panels. Photo by Los Muertos Crew on Pexels.com The first motion aimed to allow private individuals to earn better returns on the electricity they produce. Under the proposal they would be able to sell electricity to other individuals, municipalities and cantons without paying heavy network charges. 140 versus 48 voted in favour of this plan. A second change compels the...

Overall, in 2021, Swiss salaries shrunk by 0.2% in nominal terms and by 0.8% in real terms, given an annual rate of inflation of 0.6% across the year, reported the Federal Statistical Office (FSO) this week. Photo by Sora Shimazaki on Pexels.comHowever, when broken down, women saw an overall increase in pay of 0.6% while men on average saw pay fall by 0.7%. The difference reflects differences in the type of work undertaken by men and women. Pay for public sector...

On 2 June 2022, Switzerland’s parliament adopted two motions to accelerate the adoption of solar panels. Photo by Los Muertos Crew on Pexels.comThe first motion aimed to allow private individuals to earn better returns on the electricity they produce. Under the proposal they would be able to sell electricity to other individuals, municipalities and cantons without paying heavy network charges. 140 versus 48 voted in favour of this plan. A second change compels the use of rail and road...

Rules related to personal bankruptcy in Switzerland are tough compared to many countries. In effect, they give heavily indebted individuals breathing space rather than a clean slate. This week, Switzerland’s government put forward a plan to soften the rules. © Andranik Hakobyan | Dreamstime.comTo initiate personal bankruptcy proceedings (technically insolvency proceedings) in Switzerland requires funds of around CHF 5,000 to cover the costs of the court and other agencies to restructure...

As the prices of the fossil fuels used to produce electricity rise so must the price of electricity. According to the Association of Swiss Electricity Companies (AES), record market prices mean that a majority of electrical supply companies will have to charge their customers higher prices in 2023. © Valery Shanin | Dreamstime.comA survey run by the Association at the beginning of May 2022 found that half of electricity supply companies in Switzerland plan to increase electricity prices...

Switzerland has the world’s fourth most expensive childcare according to UNICEF. The federal government is working on a package of financial subsidies costing CHF 530 million a year to reduce the cost to parents, reported RTS. Photo by Ksenia Chernaya on Pexels.comA 2021 UNCEF study of childcare in rich nations ranks Switzerland as having the fourth most unaffordable childcare, a measure that considers the cost relative to income. The only places with more unaffordable childcare are...

© Debove Eric | Dreamstime.com Food, energy and housing costs are rising in Switzerland and consumers are beginning to change their spending habits. So far inflation in Switzerland has been moderate with annual inflation of 2.5%. However, according to FRC, a consumer association in French-speaking Switzerland, recent price rises are only the beginning, reported RTS. The biggest driver of Swiss inflation is energy where prices have leapt 25%. This appears to be...

According to the price comparison website Comparis.ch obligatory Swiss health insurance premiums are set to rise by an average of 5% in 2023, in some cases as much as 10%. Photo by Karolina Grabowska on Pexels.comKey drivers of the rise are the impact of the pandemic and pressure by the federal government on insurance companies to refund reserves to policy holders, said Felix Schneuwly, a health insurance expert at the company. Before the refunds a number of insurance companies had...