Source: Switzerland – Department of Finance
Headline: Coronavirus: Federal Council releases guarantee for SR Technics
During its meeting on 1 July 2020, the Federal Council released the first phase of the guarantee credit for aviation-related businesses. It granted SR Technics Switzerland AG a deficiency guarantee of 60% on a bank loan of CHF 120 million in order to bridge a liquidity shortage. The Federal Council believes that SR Technics provides essential services to airlines which could not be supplied from elsewhere in the short term. The guarantee is subject to strict conditions and the risk borne by the Confederation is compensated in line with market rates.