Livingston Air (Milan Malpensa) has filed an urgent petition for bankruptcy protection with the Court of Busto Arsizio in Lombardy. The carrier said in a statement that its application would allow it to remain operational while simultaneously beginning to settle claims with creditors.
It attributed its financial woes to: the bankruptcy of Aeradria S.p.A.; significant delays in collecting certain outstanding debts and the recent revocation of its Alghero to Rome Fiumicino PSO route.
The carrier has also submitted additional documentation to the Italian civil aviation authority (L'Ente Nazionale per l'Aviazione Civile - ENAC) to help argue its case.
ENAC has already moved to revoke the airline's Air Services Licence with effect from July 14.
"New Livingston has already provided ENAC with documentation needed to immediately obtain the revocation of the suspension measure of its transport 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."
The airline says it will remain operational despite the looming deadline and says it expects to register "significant positive cash flows" during the current summer season.
