10. Juni 2025|
AI
|6 months agoLake Geneva's CGN Shipping Company Faces CHF600 Million Modernization Need
Historic Lake Geneva fleet requires urgent CHF500-600 million investment for modernization, with six of eight steamboats deemed unfit for service.
AI
Generated IllustrationKey Takeaways
AI
- The Lake Geneva shipping company (CGN) requires between CHF500 million and CHF600 million for modernization and expansion.
- Six out of eight historic steamboats in the fleet are currently unfit for service.
- A rescue plan is scheduled to be presented to shareholders by the end of 2025.
- The cantons of Geneva, Vaud, and Valais collectively hold 57% of CGN shares.
- The steamboat 'La Suisse' has been grounded due to damage, causing significant service disruptions.
By The Numbers
CHF600 million
Maximum estimated funding need
CHF150 million
Shipyard renovation cost
CHF150 million
Belle Epoque fleet renovation cost
CHF200-300 million
Public transport expansion cost
They Said
"We need CHF150 million for the shipyard, CHF150 million for the Belle Epoque ships and CHF200-300 million to expand public transport services."
"This incident has led to 3,000 cancellations and inevitably to dissatisfaction."