It depends about what Helvetic you are talking
There is Zurich based Helvetic Airways (operating the pink F-100s) and they are still alive with no signs of a looming bankruptcy.
Then there is Geneva based Helvetic Wings that went bust a few weeks ago. They operated GVA
and wanted to operate PC
-12s on domestic routes. However, you are not allowed to operate PC
-12s on scheduled flights so they needed to close.
P.S.: Do you believe that Germania Express wanted to create a Swiss subsidiary called Helvetia Express? Helvetic Airways, Helvetic Wings, Helvetia Express...