Cypriot budget airline goes bust — Cobalt

Ivan Schwartz
October 21, 2018

With the company heading into administration, getting a refund for flights from them is unlikely to be fruitful, and their advice to contact your credit card provider, travel agent or travel insurance provider is the best way forward.

If you booked your flight directly with Cobalt, and were due to complete the return leg of your journey on a date up to and including 24 October, you can contact a designated travel agent in Cyprus (Top Kinisis Travel on +35722869999 or Orthodoxou Travel on +35724841100) to arrange a new one-way ticket.

Budget airline Cobalt has cancelled all flights after suspending operations overnight, leaving holidaymakers stranded.

Cypriot carrier Cobalt Air has cancelled all flights to and from its base at Larnaca International airport.

In a statement, Cobalt Air called the suspension of its operations "a sad day" for the airline and its employees after "working relentlessly during the last months to secure long-term financing of the airline".

Most fights show up as canceled except for flight CO327, which operates the afternoon service out of London Heathrow.

'We sincerely apologise once again and would like to thank our very loyal customers for their support over the last two years of Cobalt operations'.

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Cyprus' ministry of transport advised stranded passengers to book a flight home on another airline and keep "all the evidence and receipts to be eligible for reimbursement".

"It seems they were not able to do this, but we had also given Cobalt a deadline of October 22 to present its financial situation", she said.

There was speculation that it was facing cash-flow problems after two of its aircraft were grounded for two days.

Cobalt Airways is expected to ground all of their flights as of tonight and file for bankruptcy unless a new investor is found.

Airport authorities said there was no panic in the departures hall, with passengers appearing to have stayed away after learning about the airline's fate and the flight cancelations.

"We feel the need to help passengers who are stranded either in Cyprus or overseas and want to return to their place of residence", Transport Minister Vassiliki Anastassiadou said.

The largest shareholder of Cobalt Air is AJ Cyprus, to the tune of 49%, which is owned by the Chinese Avic Joy Air.

Other reports by GizPress

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