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Cyprus airline Cobalt halts flights amid lack of investment

Cyprus-based airline Cobalt Air says it has indefinitely suspended all of its operations amid a struggle to find investors

Reported by: AP Published on: October 18, 2018 13:30 IST
Cyprus airline Cobalt halts flights amid lack of investment
Image Source : AP Cyprus airline Cobalt halts flights amid lack of investment

NICOSIA, Cyprus (AP) — Cyprus-based airline Cobalt Air says it has indefinitely suspended all of its operations amid a struggle to find investors.

A senior executive from the airline, Philokypros Roussounides, told The Associated Press on Thursday that Cobalt's six Airbus passenger jets have been grounded. Cobalt flies to 22 destinations in Europe and the Middle East.

Roussounides said there's still interest by some companies to invest in the airline because of its successful branding, strong reputation and high level of services.

Roussounides said passengers were eligible for full refunds.

Cobalt Air began flying in 2016 in the wake of the collapse of national carrier Cyprus Airways. It was recognized as the best startup airline for 2017 by industry analysts CAPA-Centre for Aviation.

Disclaimer: This is unedited, unformatted feed from the Associated Press (AP) wire.
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