Hypovereinsbank, Bayerische Landesbank and the Kreditanstalt für Wiederaufbau (KfW) have agreed €100m ($88m) in bridge financing to support Fairchild Dornier, the private equity-backed plane manufacturer that filed for insolvency on Tuesday.

Each of the German institutions will take on a third of the loan, which is partly guaranteed by the federal and Bavarian authorities and which will keep the company afloat for the next couple of months.