Cobalt Air: Budget Cyprus airline has collapsed - here’s how to get compensation

20 October, 2018, 23:54 | Author: Regina Silva
  • A Cobalt A320

But the only protection for anyone who made flight-only purchases is through credit or debit card providers or travel insurance policies.

The sudden collapse comes after Danish budget carrier Primera Air ceased trading earlier this month, leaving thousands of travellers stranded overseas.

Cyprus-based airline Cobalt Air suspended all its operations indefinitely after failing to find new investors to keep it flying.

On Wednesday evening, the airline's low-priced has created the surprise by indicating in a brief statement on its website it was canceling all of its flights from 23H50 (20H50 GMT), due to an "indefinite suspension" of its operations.

The airline has a staff of about 200 and had sought to fill a gap in Cypriot air transport following the demise of state-run Cyprus Airways in early 2016.

More airlines are likely to succumb to the same fate as Cobalt Air this winter, leaving holidaymakers stranded, as carriers feel the pinch of rising oil prices and competitive fare pricing.

"We sincerely apologise once again and would like to thank our very loyal customers for their support over the last two years of Cobalt operations".

Major League Baseball fines Dodgers' Machado for run-in with Brewers' Aguilar
The shortstop later scored the winning run, sliding home to give Los Angeles a 2-1 win that evened the NLCS at two games each. With one out, Machado had a broken-bat single to left and went to second on Guerra's wild pitch.


Thousands march in favour of People's Vote on Brexit
No deal has been reached with the European Union on issues such as what trade ties will look like, nor the Irish border arrangement.


Vehicle crashes up in states first to legalize marijuana
The studies used raw accident data that did not specify that marijuana involvement, due to inconsistent reporting on this factor. Lindstrom said people need to be aware if carrying legally purchased marijuana when flying from Canada to the U.S.


Roussounides said passengers were eligible for full refunds.

She said: "We thought it would be easier and less stress getting married overseas but it's a nightmare".

According to Economy Today, the airline only has €15 Million on their account, which will be used to pay employees and workers. Cypriot travel agencies Orthodoxou Travel and Top Kinisis were authorized to book return flights.

If the company refused to speak officially on its financial position, sources within the company have attributed his problem of liquidity to the difficulties encountered by chinese investors to export their capital, due to restrictions imposed by Beijing.

It was not immediately clear what would happen with passengers with future bookings.

"We (...) feel the need to help the passengers stuck either in Cyprus or overseas, and who want to return home", stated the minister, calling the situation "unfortunate", especially at the end of a tourist season record.

The Cyprus Mail said the airline's main backer is China's Avic Joy Air.

Recommended:

  • American Lifespans Won’t Get Much Longer by 2040, Report Finds

    American Lifespans Won’t Get Much Longer by 2040, Report Finds

    Those living in Spain are forecast to have the longest life expectancy, at 85.8 years, followed closely by Japan at 85.7 years. Overall, all countries are "likely to experience at least a slight increase in lifespans", says the report.

    Jose Mourinho Names Attacking XI As Manchester United Take On Chelsea

    "After winning the league we asked Mourinho for extra holiday time and I returned totally out of shape". Obviously, they are winning, they have one character you can not miss in Eden Hazard .
    Spammers looking to make money behind recent data breach, says Facebook

    Spammers looking to make money behind recent data breach, says Facebook

    Facebook has warned that attackers had obtained access tokens for all of the breached accounts, which it has since invalidated. Facebook has repeatedly declined to confirm or deny WSJ's report or discuss the attackers' identities.
  • Israel steps up armored deployment near Gaza

    Israel steps up armored deployment near Gaza

    During that time, terrorists have launched incendiary balloons and kites into Israel and on occasion breached the border fence. Gaza health ministry spokesman Ashraf al-Qidra said that among the 130 Palestinians injured, at least 77 were hospitalised.

    'Luke Cage' Cancelled: No Season 3 for Netflix Marvel Series

    According to reports, Netflix isn't thinking twice about bringing " Luke Cage " back for a third season. He also appeared in Jessica Jones and the crossover miniseries The Defenders .
    Maurizio Sarri insists manager Jose Mourinho deserves more respect

    Maurizio Sarri insists manager Jose Mourinho deserves more respect

    One of the biggest problems at Manchester United right now seems to be too many big egos in the dressing room. Speaking to Men in Blazers TV , Rooney said, "That would never be allowed to happen".
  • Emery wants more as Arsenal eye flawless  10

    Emery wants more as Arsenal eye flawless 10

    If they decided we are going to play Monday we don't stop to think if it is better to play Monday or not. I want every player to stay OK, with the mentality to prepare, to play and [be] together to win.
    Jose Mourinho won't 'celebrate like crazy' if Man United win at Chelsea

    Jose Mourinho won't 'celebrate like crazy' if Man United win at Chelsea

    The 59-year-old former banker accepts Mourinho is, for the time being, a better coach than him - and can win trophies again. His team sits in eighth place in the table with 13 points.
    Khashoggi died in fight at consulate, admits Saudi Arabia

    Khashoggi died in fight at consulate, admits Saudi Arabia

    Authorities said 18 Saudi suspects were in custody for his slaying and intelligence officials had been fired. None of the Saudi statements give any clue as to what happened to Khashoggi's remains.
  • Fb in recent video metrics row

    Fb in recent video metrics row

    The company's spokesperson told WSJ, "Suggestions that we in any way tried to hide this issue from our partners are false". Facebook now has a dedicated metrics team and allows third parties and experts to review its measurements regularly.
    Scientists record Antarctica's singing ice shelf

    Scientists record Antarctica's singing ice shelf

    They posted the eerie sounds online , along with a Geophysical Research Letters report on their greater research. This means it is more important than ever that we keep a vigilant eye on any major changes in ice shelves.

    Jaguars acquire RB Hyde from Browns in trade for draft pick

    Per Adam Schefter of ESPN , the Cleveland Browns are trading starting running back Carlos Hyde to the Jacksonville Jaguars . Johnson will return to his role of 2017, when he topped 1,000 yards rushing and receiving and led the Browns in touchdowns.


Popular

Remains of over 60 infants and fetuses discovered in Detroit funeral home
The cremains of four people were found, this week, by someone working on the former funeral home. Arrangements were being made to relocate a service previously scheduled at the funeral home.

Bayern Munich chairman Hoeness: We sold Bernat for his S*** play!
Bayern have won the Bundesliga title in each of the past six seasons but this campaign already find themselves four points adrift of leaders Borussia Dortmund.

West Ham's Wilshere suffers injury setback, Carroll back in training
But I need to remind everyone that it is our [joint] best start after eight games - it is the best start in the Premier League for Tottenham".

Italy’s PM criticizes economic sanctions against Russian Federation
Deputy Prime Minister and interior Minister of Italy Matteo Salvini does not exclude that can compete for the post of President of the European Commission.

Mercury mission to explore origin of solar system
Magnetic fields are generated by a liquid core but given its size, Mercury's should have grown cold and solid by now, as did Mars. It has built one of the two orbiters, with the Japan Aerospace Exploration Agency (JAXA) providing the other.

Netflix’s Gangbusters Earnings Didn’t Stop This Analyst From Downgrading the Stock
India is already one of the biggest markets for YouTube, a chief competitor, and holds great potential for Netflix . Netflix revenue in the quarter increased 34% year-on-year to almost $4bn, while profits more than tripled to $403m.

Thalapathy Vijay's Sarkar teaser shatters records on You Tube - find out how!
During an interview, AR Murugadoss said, "When we see two dinosaurs fight, there will be one that we want to see winning". The teaser starts off with the unbelievable visuals of Paris followed by a brief description about Vijay's character.

IPhone XR available for pre-order from Friday
The iPhone XR will support gestures as Apple has bid adieu to the home button for its entire line-up for the first time. Apple enthusiasts in India are in for some treat this festive season with the company launching its latest iPhone XR .

Julian Assange files case against Ecuador for 'violating rights'
He was also prohibited from any receiving guest beside his team of lawyers, a move which effectively cut him off from the world. Assange's lawyer Baltasar Garzon said the demands regarding the cat are "denigrating".

Greek foreign minister resigns, prime minister takes over
The amendments need a two-thirds vote in parliament for approval and now are several lawmakers short of passage. New Democracy leader Kyriakos Mitsotakis on Wednesday called Tsipras "weak".