Serious financial problems threatening Cypriot airline Cobalt after the Chinese government decided to freeze foreign investments. According to Economy Today, the “hole” in the company’s finances reaches €5 million, with some of the existing shareholders of Chinese origin refusing to meet their obligations.
The problems could be related to instructions given by the Chinese government to freeze investments in foreign countries after the “economic war” declared by U.S. President Donald Trump.
The airline is looking for potential investors to fill up the gap and to return the airline into black figures. The management is confident that it will find new investors very soon.
The airline currently serves 23 destinations in 13 countries with 2 Airbus A319 and 4 Airbus A320 aircraft. It intended to launch long-haul flights as well, especially to China.
This post was published on 14 October 2018 18:55
Embraer has delivered the first E175 equipped with RECARO R2 passenger seats to American Airlines,…
LOT Polish Airlines has joined TSA PreCheck, allowing eligible passengers departing from participating US airports…
Munich Airport will offer 182 destinations in 67 countries during its winter 2026/27 timetable, with…
A Canadair Challenger 604 operated by Triton Aviation made an emergency landing at Abuja’s Nnamdi…
Antwerp Airport could see electric passenger aircraft enter service from 2030, with ASL Group and…
VINCI Airports handled 93.5 million passengers in the third quarter of 2026, down 0.6% year-on-year,…
