Government assistance for SR Technics – Swiss million for heavily indebted Chinese group?SR Technics is to be hoped, as the only flight of near-by operating for an early Federal aid. In the process he does nothing more, what would be the Swiss Hub of Zurich, necessary – for the air travel as a Whole already. Konrad Staehelin47 Kommentare47SR Technics at Zurich airport, although clearly present. For the place the deer’s Swiss operation, however, plays only a small role. Photo: Keystone

If in the late autumn, the Jury meets to determine the word of the year, it is likely to create “system-relevant”, at least in the shortlist. The label opens companies, the door for state aid: the Swiss airline company must record in conjunction with her sister, Edelweiss 1.5 billion Swiss francs of credit with a Bank consortium, for the largest part of the taxpayer guarantee. This, although in 2010 the Federal Council appointed the Commission of experts for the view was not that the Swiss is relevant to the system. The in the Corona-2020 competent politicians have come to a different conclusion.

the service provider SR Technics, however, could also get a company help by the Federal government, which has become for the Swiss, and the Work of their hub at the airport, Kloten is irrelevant. The company, which is now part of the highly indebted Chinese HNA group, was founded in the 1990s, as the technology subsidiary of Swissair, and led to about ten years ago, the maintenance work on the machines of the Swiss.

but Then decided the Airline to maintain your aircraft yourself. Larger Checks makes the Swiss today, in addition, in the case of suppliers abroad make. “In the case of SR Technics, the Swiss buys only isolated, small-scale services,” says a Swiss spokesman.

SR Technics entitled

Why is SR Technics, then, is for Federal aid eligible? One reason is that SR Technics to the country airports the sole provider for the so-called Line Maintenance to the Linienjets of foreign airlines. The maintenance of the machines, which are only a few minutes or hours on Swiss soil, and then again to take off. In order for Zurich, Geneva and Basel can be flown from the outside, is SR Technics, therefore, quite relevant. 2019 were foreign Carrier for the half of the well 18’000 long-haul flights from Zurich.

The Federal Council expects that up to 600 million Swiss francs could be necessary to support the Airlines ‘ ancillary sectors Catering, ground handling and aircraft engineering. The Caterer gate group and the Handlers Swissport may, however, due to their world-wide and debt-based corporate structures at the Moment, no money relate.

In the case of SR Technics, however, it is possible to separate the Swiss business legally from the foreign business and the collateral for the loan is fixed. This would not be guaranteed that the money flows to the ailing owner of HNA, which escaped during the Corona-crisis under the wing of the Chinese state.

industry insiders told this newspaper that SR Technics had long been unprofitable and could not imagine that it is different today.

Neither the competent Department of Finance at SR Technics is to bring in experience, how far the help has thrived. It runs like the Swiss, could SR Technics is yet to come in may to receive his money. How high the demand is, is unknown – SR Technics published no Figures. There are several dozen are expected, if not hundreds, of millions.

it is Known only that the company has a turnover of about 1.5 billion Swiss francs with around 3000 employees, of which about 1300 in Zurich. Industry experts told this newspaper that the company had been long years of unprofitable and could not imagine that it is different today.

“Easyjet is hardly matters relevant to the system”

As a further reason for possible state aid, the Swiss-sister, Edelweiss, Easyjet Switzerland rely on the technology provider. The Federal Council holds the two Airlines also relevant to the system. This is among the experts disputed. The holiday airline Edelweiss receives only Federal support because it provides services for the Swiss Hub of Zurich.

Easyjet Switzerland, by contrast, flies from Geneva and Basel from Short – and medium-haul routes, all of which are self-supporting. “Wouldn’t Easyjet do this, would shortly take – up in the medium term, a other company’s routes. So the company is hardly relevant to the system,” says an industry expert who does not want to be called. The ingenious Hub System with Swiss and Edelweiss could replace it so quickly no one.

Easyjet contradicts this and indicates that they employed over 1000 employees at its two locations in Switzerland. In addition, the Hub was out of date model at all, and one must ask why the hub had to be preserved at any price. Still, Easyjet Switzerland has not received any Federal support. Transport Minister Simonetta Sommaruga has so far been on the point of view that Easyjet’s mother in the United Kingdom still has enough liquidity to support its Swiss subsidiary.

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