New Livingston suspends flight activities.

Cardano al Campo (Varese), 06 October 2014 – New Livingston, the airline specialized in charter flights, suspends all its flight activities as from today. It was a difficult and painful decision, after three years of operations.

New Livingston, a privately owned Italian carrier operating domestic and International flights, was forced to suspend all activities due to the difficult situation in the tourism industry, especially regarding the turmoils in the Mediterranean region and Egypt, as a result of the Arab Spring, and the drastic reduction in demand for flights to Russia due to the ongoing political crisis.

A sharp drop in revenues is attributable also to some unpaid claims such as those of Aeroporto di Rimini, whose amounts for ticket sold were never transferred to the airline and on which the property relied for its revival.

Due to all the above, in addition to the atypic rigidity of some Italian organizations and companies, New Livingston could not carry on its activity, despite all efforts made to continue the operations, both through corporate restructuring and the petition for Concordato in Continuità, in addition to significant investments made by the property.

The intention to suspend the flight activities was previously submitted to the attention of the Court of Busto Arsizio, thus to preserve the company’s assets.

The employees will benefit from social safety nets provided by the law and their salaries will be paid in full. It started today the iter intended to find a warranted solution aimed to confirm the layoffs for the employees within the current month of October.

“It is a responsible choice to close the airline without debts towards the employees. The difficult decision that we took at this time is a consequence of the fact that, compared to two years ago, now there aren’t the conditions to move forward. The charter market has been completely disrupted by internal factors, but mainly by international turmoil” says Riccardo Toto, who in 2011 took over the airline by the Extraordinary Administration.