Lake Geneva shipping company needs over CHF500 million

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. +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 ...