Cypriot airline Cobalt cancels all flights from Stansted

Cobalt plane

Cobalt plane

An airline used by thousands of Britons every year has shut down in the latest blow to the European aviation industry.

Cobalt, which operates services from Heathrow, Stansted and Gatwick, warned travellers on Wednesday night not to arrive for flights.

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

According to the transport minister for Cyprus, Vasiliki Anastasiadou, the state will be covering the cost of repatriation of passengers who are left stranded.

Cypriot low-priced carrier Cobalt Air announced it was cancelling all flights from Thursday after just two years in operation, leaving passengers stranded and scrambling to get their money back.

The remaining £17.3million in its accounts will now be used to pay staff.

Budget airline Cobalt has cancelled all flights after suspending operations overnight, leaving holidaymakers stranded.

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In a later statement, quoted by the Cyprus Mail, Cobalt said it had called in administrators after failing to secure long-term funding.

The airline advised passengers who have tickets not to go to the Mediterranean holiday island's main airport at Larnaca on Thursday or attempt to contact its offices "as no Cobalt flights will operate and no Cobalt staff will be present".

It had expanded rapidly since its launch to about 20 destinations, adding a business class and, recently, a frequent flyer programme.

The news follows the collapse of Nordic airline Primera Air earlier this month.

Cobalt had hired many pilots from former state carrier Cyprus Airways after its demise in 2015.

Britain's own Monarch Airlines entered administration a year ago in the biggest airline collapse in the country's history.

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