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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…

Second European Airline Ceases Operations This Month

Earlier this week, AirlineGeeks reported that Larnaca-based Cobalt was experiencing financial trouble. The airline’s website has just been updated to inform passengers that all future flights have been suspended indefinitely. The airline’s main stockholder is AJ Cyprus, a company owned by Avic Joy Air, a Chinese company. With 49 percent…

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…

Cobalt Air Continues International Expansion Despite Shaky Start-Up

Cypriot carrier Cobalt Air recently announced that they will add additional frequencies on their Manchester flight from Larnaca. They will be adding a third weekly flight to Ringway during the Summer 2017 season with flights starting from around £76 one way. This route addition comes after over a year of…