Cyprus-based airline Cobalt Air ceases operations

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Cyprus-based airline Cobalt Air ceases operations

By
18 October 2018

By | 18 October 2018

Cobalt Air collapsed overnight, wrecking thousands of holiday plans

Barely two years after launching, Cypriot airline Cobalt Air has announced a complete halt of all operations.

After barely two years of operation, the airline failed to secure long-term financing — PT-lens / Shutterstock Cyprus-based airline Cobalt Air ceases operations Group Created with Sketch. After barely two years of operation, the airline failed to secure long-term financing — PT-lens / Shutterstock

The carrier collapsed practically overnight after they failed to secure long-term financing despite “arduous efforts to keep the airline flying”.

“Cobalt regrets to announce that it will be cancelling all flights as of 23:50 pm on 17 October, 2018, due to an indefinite suspension of Cobalt’s operations. As a result, future flights or services provided by Cobalt will be cancelled and will no longer operate,” the airline said in an official press release.

“Passengers who have un-flown tickets are instructed not to go to Larnaca Airport or any departure airport tomorrow, 18 October 2018, as no Cobalt flights will operate and no Cobalt staff will be present.”

On Wednesday evening, Cyprus ‘s transport minister Vasiliki Anastasiadou pledged state support for all those stranded either in Cyprus or overseas amid the sudden collapse.

Cyprus government will cover cost of cancelled tickets

Anastasiadou said telephone numbers would be announced soon to help the passengers.

“The priority for the ministry is to help the people who have been stranded,” she said, adding the numbers would help provide single tickets for travellers to get back to where they started from.

Cobalt Air operated as a low-budget carrier based in Larnaca Airport, Cyprus — Shutterstock Cyprus-based airline Cobalt Air ceases operations Group Created with Sketch. Cobalt Air operated as a low-budget carrier based at Larnaca airport, Cyprus — Shutterstock

Anastasiadou added that the cost of the cancelled tickets will be covered by the government, the Cyprus News Agency reported. However, it only refers to people who are in need of a return ticket only.

Passengers that were supposed to travel on Thursday were told to buy an alternative single ticket and seek reimbursement from the ministry.

Cobalt Air operated as a low-budget carrier based at Larnaca airport, Cyprus. The airline was launched with a help of Chinese investors after the country’s flag carrier, Cyprus Airways, ceased operations in 2015.

Cobalt connected Larnaca with Heathrow, Gatwick or Manchester. It also operated services to Beirut, Tel Aviv, Frankfurt, Moscow and Paris.