A Cobalt A320 being towed at Athens International Airport. The airline flies to Larnaca, Paphos, and London Gatwick from Athens. (Photo: Konstantinos Chatzigeorgiandis)

Stuck in Cyprus: GECAS Unable to Repossess Cobalt Planes

Cyprus' Cobalt Air suspended operations indefinitely on Oct. 18, 2018, just days after it was reported that the airline was struggling financially. The 2017 Center for Aviation Start-up of the Year recipient left approximately 200 people jobless and six aircraft stranded at its hub at Larnaca International Airport in Larnaca, Cyprus. When an airline goes bankrupt, there are several options for the planes involved. If the airline or the government owned the aircraft, they could send it to storage for…

Another European Airline in Financial Trouble?

Trade war tensions with China are rising in the U.S. as President Donald Trump creates new barriers for Chinese trade. While this has been occurring, Cyprus has kept its doors wide open to Chinese investment and trade, with plans to double bilateral trade to more than $1 billion, equivalent to…