Cobalt ceases operations

[ShamrockF]

Looks like Cobalt will cease operations from midnight.

https://cyprustimes.com/2018/10/17/se-exelixi-syskepsi-gia-ti-cobalt-dieykolynseis-gia-to-epivatiko-koino/

[LBIA]

And here it is in English

https://cyprus-mail.com/2018/10/17/cobalt-flights-grounded/

[PAXboy]

From the article:
Officially, Cobalt has declined comment. But sources within the company attributed the liquidity problems to a difficulty by Chinese investors to export capital due to Chinese government restrictions.

[jortheo]

It's official, there is an announcement in Twitter (MCWcy/status/1052665337257299968) by the Cypriot Ministry of Transport.

[LBIA]

Sadly its official, the following message has just been posted on Cobalt Airlines website. https://cobalt.aero/
https://cimg7.ibsrv.net/gimg/pprune.org-vbulletin/505x284/screenshot_7cbe633ecea20286e2aa90727edb3490267f19a9.png

[500 above]

TUS Air don’t look too healthy either.

[reverserunlocked]

With Cyprus Airways now reborn it was difficult to see how an island of this size could sustain two ‘flag carrier’ airlines so hopefully rather than cannibalise each other’s customer base at least one of them will emerge in a stronger position.

I flew CO a few times and they weren’t bad, although there is no online check in. This meant that traveling on a 20 min sector to Beirut from Larnaca even with hand luggage only involved standing in a check in queue with a packed Moscow flight for an hour, which was annoying.

Not a good time for smaller airlines right now.

[aviationfanatic]

Sad day for Cobalt, it looked like a decent LOCO

[gtaflyer]

Flybe not good either according to reports..

[flyingmed]

Flybe not good either according to reports..

Flybe profit warning (https://news.sky.com/story/flybe-profit-alert-as-consumer-demand-weakens-11527807)
https://news.sky.com/story/flybe-profit-alert-as-consumer-demand-weakens-11527807

[reverserunlocked]

Cyprus Airways offering 20 free one way tickets to Cobalt ticket holders on flights from Tel Aviv, Beirut and Athens until mid December. Cobalt had expanded quickly whereas CY still have only 2 aircraft in the fleet. Wonder if they'll try to cherry pick the route network Cobalt had built up? That said, CYs A319 has the tightest Y config I've ever experienced, and that was on an 18 minute sector from LCA to BEY....

[CaptainProp]

A court in CH seems to have opened up insolvency proceedings against PrivatAir as well.

CP

[Gordomac]

Reverserunlocked ; Bit of confusion . You say Cyprus Airways offering free one ways. Maybe a code share indicating that it is CY but to my knowledge there is no Cyprus Airways. They went bust some time ago. Several attempts to fill the vacuum have been made without success. Indeed, only in yesterday's Cyprus Daily Mail, CY was referred to as the "now defunct Cyprus Airways". I have lived here for ten years and see no planes with "Cyprus Airways" written on the side.

Along came Cobolt some two years ago with involvement with the Cyprus Government to fill part of the gap. Cobolt is funded with 49% Chinese money and the rest by Cyprus (the latter might well be a melting pot of varied investment). Cobolt had two of six aircraft based at Larnaca. Both are now parked up at LCA.

Cyprus Government (being 51% backers) have announced that they will help stranded pax up until 24th October. Very limited help by the way.. Advice to pax was that if you paid through your credit card, contact them. If you paid through a Travel Operator, contact them. A refund through Cobolt (?), join the queue.

All part of aviation I regret to say. Airlines come & go and leave a right old mess in the wake of going.

[Hotel Tango]

Gordomac, to begin with it's Cobalt. Secondly should you google Cyprus Airways you will note that your knowledge is about 7 months out of date!

[DaveReidUK]

I have lived here for ten years and see no planes with "Cyprus Airways" written on the side.


https://cimg5.ibsrv.net/gimg/pprune.org-vbulletin/768x495/5b_dcx_179dce1f917f4050675f2ff14b92373de156d851.jpg

Currently enroute LCA-ZRH as CY350


https://cimg4.ibsrv.net/gimg/pprune.org-vbulletin/768x518/5b_dcw_12a89e2d2e5f3b52fbfc21802a65d6405a79ae35.jpg

Currently enroute LCA-MUC as CY372

[Airclues]

Gordomac

https://www.cyprusairways.com/home/about/news/Cyprus-Airways-becomes-member-of-International-Air-Transport-Association-IATA-

[Gordomac]

Ouch. That's me told. Setting off to Mackenzie Beach where I can wine & lunch while looking out for the "reborn" Cyprus Airways. Might be a long wait as I see both aircraft are en-route. Any way, I knew all this. I was just testing you lot !

[Hotel Tango]

You have to try harder. We were on the ball ;)

[AviatorDave]

https://cimg5.ibsrv.net/gimg/pprune.org-vbulletin/768x495/5b_dcx_179dce1f917f4050675f2ff14b92373de156d851.jpg

Currently enroute LCA-ZRH as CY350


https://cimg4.ibsrv.net/gimg/pprune.org-vbulletin/768x518/5b_dcw_12a89e2d2e5f3b52fbfc21802a65d6405a79ae35.jpg

Currently enroute LCA-MUC as CY372

I wish them all the best but -ugh- what a livery :/

[500 above]

Cyprus Airways is owned by Charlie Airlines (you couldn’t make it up...) which is owned by Russia’s S7 in turn. Cobalt was 49% Chinese money.

[Gordomac]

500 above; I was a very good boy & read the links suggested. Thread is about Cobalt (see AT ?- I learn quick), but the slight thread drift is interesting too. I fell of my chair larfing at the revelation that the "New born" Cyprus Airways is, actually, Charlie Air who "bought" the Trading rights off the Cyprus Government for a ten year period. So, not quite like the old Cyprus Airways which is indeed defunct. Money source is curious too but I'm not going there ; too many Porch SUV's with blacked out windows whizzing around town at the mo.

[surely not]

I really like the new Cyprus Airways livery, it looks refreshing and modern.

So many airlines look to be on the edge of failure at the moment, perhaps we should be looking at the fallacy that really low fares are good for the aviation business? Sadly it looks as though new entrants are finding it increasingly difficult to survive against the established main players in the LoCo sector. It looks as if the customer is going to end up with less choice than they had before.

[bumpy737]

Laudamotion has already an offer for the stranded Cobalt pilots, saw it on LinkedIn.

[StopStart]

Virgin steps in?!? (https://aviationanalyst.co.uk/2018/11/02/virgin-atlantic-may-have-just-saved-collapsed-cobalt-air/)

[fuelling]

Cobalt has officially gone into liquidation, I wonder if the liquidator will go after people who took huge back handers.

A good airline robbed by its directors and a few employees.