Airlines Next European carrier ceases operations

The summer of 2018 poses problems for many smaller airlines in Europe: After SkyWork, SmallPlanet Germany, VLM, Azur Air Germany, Primera Airlines and Cello Aviation, Cobalt Air is the next carrier, which is forced to cease operations.

In a press release on the website, Cobalt Air stated that “future flights or services provided by Cobalt will be cancelled and will no longer operate.”

Based at Larnaca International Airport, Cobalt Air operated a fleet of two Airbus A319 and four Airbus A320 to over 20 destinations in 13 countries in Europe, Russia and the Middle East. Additionally, the airline operated flights on behalf of other carriers like the German airline Condor.

Cobalt Air was founded in 2016 as a successor to Cyprus Air and commenced operations in the same year. According to media reports, the carrier is facing financial problems as a Chinese investor is not able to continue its investment. 49% of the Cobalt Air shares are owned by the AJ Cyprus holding, which is owned by Chinese Avic Joy Air.

Smaller airlines in Europe are struggling with rising fuel prices, heavy competition and often problems with leasing their aircraft.

Europe’s largest low cost carrier Ryanair already announced to organize a roadshow event in Larnaca to convince former Cobalt Air employees to work for Ryanair.