Cypriot airline Cobalt Air has suspended operations due to financial difficulties. All flights have been cancelled effective midnight on October 17th and 18th, according to Travel.ru.
Among the cancelled flights was a night flight from Larnaca to Moscow's Sheremetyevo Airport. Cobalt Air had been flying to Moscow since 2017, first from Paphos and then from Larnaca. The carrier's route network, which operated six Airbus A320 family aircraft, included 23 destinations.
The company's closure was caused by a failure in negotiations with a potential investor. Cobalt Air provided no instructions to passengers who remained with its tickets, other than a recommendation to try to get a refund through the bank whose card was used to pay. Cypriot authorities have stated their intention to facilitate the transportation of passengers of the bankrupt company, but no specifics have yet been released.
Cypriot airlines have been facing difficulties for quite some time. Several years ago, the national carrier, Cyprus Airways, was closed (now a new small airline, created by Russia's Siberia Airlines (S7 Airlines), operates flights under this brand). The majority of flights are handled by foreign companies, including Greece's Aegean Airlines and budget carriers Ryanair and easyJet.
Source: travel.ru