Livngston suspends operations with immediate effect

Livingston announced (06-Oct-2014) the immediate suspension of operations, "due to the collapse of tourism, especially in the holiday segment to Egypt and the Mediterranean basin." Livingston stated: "A sharp drop in revenues is attributable also to some unpaid claims such as those of the Airport of Rimini, on which the property had pointed to the revival and towards which still boasts a major credit per ticket sold, the amounts which do not were never transferred to the airline." Livingston added: "The company's decision to suspend activity has been previously brought to the attention of the appropriate bodies of the Court of Busto Arsizio and has the objective of protecting the company's assets. The employees, whose outstanding wages will be fully settled, can take advantage of social safety nets provided by law. Today we started the process necessary to find a guaranteed solution for workers with the aim of obtaining the layoffs by the end of October." Livingston CEO Riccardo Toto said: "It is a responsible choice to close the airline without debts towards the employees. The difficult decision that we make at this time is a consequence of the fact that compared to just two years ago, there is now a market order to move forward. The charter market has been completely disrupted by internal factors, but mainly by international turmoil." According to the CAPA Fleet Database, the carrier's fleet consists of three A320 aircraft, two of which are leased from AerCap and one from FLY Leasing. [more - original PR - Italian]