New Livingston files petition to overcome a temporary situation of financial difficulty and ensure the continuation of the activities

Petition for the admission to so-called “procedura di concordato preventivo con riserva” in order to overcome a temporary situation of financial difficulty and ensure the continuation of the activities in compliance with the par condicio creditorum.

All flights guaranteed

Cardano al Campo (Varese), 25th of June 2014 – Today, New Livingston has filed a petition with the Court of Busto Arsizio for the admission to the settlement with creditors procedure pursuant to article 161, paragraph 6 of the Italian Bankruptcy Law (so called “concordato preventivo”).

New Livingston resolved to apply for the above mentioned instrument, in order to overcome a temporary financial crisis ascribable to, inter alia, the bankruptcy of Aeradria S.p.A., significant delays in collecting certain credits and the recent revocation of the PSO route Alghero – Roma Fiumicino and vice versa (in connection with such measure, a claim against Regione Autonoma della Sardegna is still in progress). The above, in compliance with the so-called “par condicio creditorum”.

New Livingston has already provided to ENAC the documentation needed in order to immediately obtain the revocation of the suspension measure of its carries license starting from 00:01 of 14 July 2014 or the issuance of a provisional carrier license, on the basis of article 9, paragraph 1, of the Regulation (EC) No. 1008/2008 and paragraph 4.6 of the Circular ENAC EAL-16 of 27 February 2008.

New Livingston will continue its full operation of scheduled connections guaranteeing its high standards of quality and safety.