The family wound the company up for a number of reasons, the pension defecit being one, but also increased financial regulation made their money laundering much more difficult.The industry had changed and a failure to invest and move with the times meant they were actually going to have to spend serious amounts of money.
They have now moved into river cruises with their company Avalon waterways,and property As the airline was being deliberately prepared for execution they purchased a lot of brand new vessels, and built the Palazzo Mantegazza in Lugano.