After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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The new Cyprus Airways, a competitor to Cobalt, aims to offer service from Larnaca to Athens, Munich, Prague, Stuttgart, Zurich and Verona in summer 2018.
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Cobalt new routes

Post by globetrotter »

Cobalt will add Abu Dhabi from 25th February, Copenhagen from 27th March and seasonals Geneva from 13th May, Mykonos from 3rd June.

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Dropped Brussels and Birmingham.

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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How big is the current fleet ?

Europe's smaller airlines struggle to survive: https://www.aviation24.be/featured/anal ... d-markets/

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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6 aircraft, 2 A319 and 4 A320
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

Post by theeuropean »

According to the Greek aviation forum it is said that Cobalt has serious financial difficulties.

https://www.airliners.gr/community/view ... 61#p200061
https://economytoday.sigmalive.com/epih ... obalt-aero

The investors are wary to invest more money in the company. So lets see what will happen.

In the meantime the other Cypriot company TUS airways is looking to do more ACMI work and has fired most of its staff and reduced significantly its network.

Aegean scaled back its operations, but that was for economic and financial reasons. If Cobalt and TUS fail, the only option I personally see going forward is Aegean adding maybe one more aircraft to the Larnaca base and keep the profitable routes flying.

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

Post by theeuropean »

Two rumors are going around in relation to Cobalt:

One is that Cobalt has found investors to inject capital into the airline:

http://alphanews.live/economy/neos-epen ... cobalt-air

Another is that Cobalt will be ground from midnight tonight (I have no idea if it's Cypriot/Greek time or CET).

https://www.airliners.gr/community/view ... 39#p200139

Both come from the Greek aviation website:
https://www.airliners.gr/community/view ... 39#p200139

Both articles are in Greek, but I have translated more less the main ideas.

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

Post by TLspotting »

theeuropean wrote:
17 Oct 2018, 20:54
Two rumors are going around in relation to Cobalt:

One is that Cobalt has found investors to inject capital into the airline:

http://alphanews.live/economy/neos-epen ... cobalt-air

Another is that Cobalt will be ground from midnight tonight (I have no idea if it's Cypriot/Greek time or CET).

https://www.airliners.gr/community/view ... 39#p200139

Both come from the Greek aviation website:
https://www.airliners.gr/community/view ... 39#p200139

Both articles are in Greek, but I have translated more less the main ideas.
It is official, last flight is CO327 LHR-LCA.
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Screenshot_20181017-224641.jpg
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Cobalt wanted some time from the Cyprus Government to find new investors. The Government refused and cancelled the AOC.
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

Post by Vic Diesel »

Lessor GECAS cannot get into repossession of the planes of defunct carrier Cobalt, according to reports of Greek newspaper Kathimerini:

The pilots arrived from the USA to Larnaca, Cyprus in order to fly the planes leased to Cobalt, a Cypriote airline that currently went bankrupt, out of Cyprus. To their shock, they had to discover that the two A320s parked on the tarmac were blocked with several ground vehicles parked around them. No one is taking responsibility for the parked vehicles, so the two GECAS-leased A320s are even after five days still blocked from being moved. The GECAS pilots supposedly called the US Embassy in Larnaca as they seek official assistance.
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Cobalt remains a going concern and has retained its AOC, with one of its six leased jets still in contract.
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Cobalt is getting increased interest from import/export company Diversa (Greece) who is making more enquiries with Cypriot financial regulators regarding the potential acquisition.
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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Cobalt (Cyprus) has definitively gone into liquidation, with Stephen Michaelides of Grant Thornton (UK) being appointed as the official receiver.
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

Post by TLspotting »

Cyprus lost an important airline.

Cyprus Airways ? Gone.
Cobalt ? Gone.

There's still TUS and the new Cyprus Airways but no one can replace Cobalt, with all the network they had... Cyprus Airways is not really a project which takes off...

Lots of countries lost their national airline, like Belgium, Hungary, Cyprus and now Tadjikistan
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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

Post by globetrotter »

Which Tajikistan airline is closing?

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Re: After Cyprus Airways bankruptcy, a new airline for Cyprus: Cobalt

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globetrotter wrote:
13 Jan 2019, 20:58
Which Tajikistan airline is closing?
Tajik Air suspend at least their ops.
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