ZURICH (Reuters) – Switzerland has granted aviation services company SR Technics Switzerland AG a deficiency guarantee of 60% on a 120 million Swiss franc ($126.8 million) bank loan to bridge a liquidity shortage, the Swiss government said on Wednesday.
It marks the first time the government has used bank guarantees for aviation-related businesses under an emergency bailout scheme for the sector hit hard by the coronavirus pandemic. It said SR Technics provided essential services which could not soon be supplied otherwise.
(Reporting by Michael Shields; editing by Brenna Hughes Neghaiwi)
