Larnaca-based low-cost airline Cobalt has cancelled all flights from just before midnight Wednesday, according to a statement on its website.
Local media said Cobalt had failed to reach a deal with a potential new investor.
The carrier said all flights would be cancelled as of 11.50pm and warned travellers on Wednesday night not to arrive for flights:
“Cobalt regrets to announce that it will be cancelling all Flights as of 23:50pm on October 17, 2018 due to indefinite suspension of Cobalt’s operations. As a result, future flights or services provided by Cobalt will be cancelled and will no longer operate,” the airline said in a statement.
“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,” it added.
The airline operated its maiden flight on 1 June 2016 from Larnaca to Athens. It was the second Cypriot airline, after Tus Airways, to be established since the dissolution of Cyprus Airways in 2015. From June 2017 until October 2018, it was the second largest airline at Larnaca International Airport with 8.2% of weekly capacity after Aegean, and was predicted to become the largest airline by Summer 2018 following expansion and the subsequent reduction by Aegean at Larnaca.
Cobalt Air flew to 23 destinations in 13 countries, all in Europe, Russia and the Middle East, with a fleet of six aircraft, including A319s and A320s.