After the bankruptcy of Cyprus Airways in January 2015, Cyprus was left without a national carrier.
Therefore, the government announced the imminent launch of Cobalt, a new Cypriot budget airline, with the support of a wealthy Hong Kong investment group in addition to Cypriot investors. The government had already confirmed last month that Cobalt was one of three Cypriot firms that had applied for an air operator’s certificate (AOC) from civil aviation authorities.
Cobalt will be based on the Mediterranean island and is expected to create 500 jobs locally in the first five years of operation. It will initially serve several destinations in Western Europe, Russia, Africa and the Middle East from Larnaca with two A320 aircraft, from spring 2016. It later aims to add long-haul flights to China, South Africa and the United States.