Make Kitco Your Homepage

Swissport gets $170 million in U.S. financial assistance

Kitco News

ZURICH (Reuters) - Aviation services provider Swissport said its North American unit will receive $170.4 million in financial assistance under a payroll support programme agreed with the U.S. Department of Treasury to be able to keep paying employees in the United States during the COVID-19 pandemic.

Before any funds received under the U.S. Cares Act, Swissport’s liquidity amounted to approximately 340 million euros ($385 million) at the end of June, the group owned by China’s HNA Group said in a statement on Monday.

Reporting by Silke Koltrowitz; Editing by Michael Shields

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.