Cyprus Mail

Cobalt says fourth Airbus 320 added to fleet

Cypriot airline Cobalt said on Friday it added a fourth aircraft to its fleet, an Airbus 320, which will “immediately” be incorporated in its flight schedule, which will be expanded soon to include Brussels and Tel-Aviv.

“The new aircraft … constitutes the first step of a long-term cooperation with the Industrial and Commercial Bank of China (ICBC), the major Chinese bank leasing company, that supports Cobalt’s vision to contribute to Cyprus becoming an all-year tourist destination and a regional air transport hub,” the airline said.

As the company plans to add new international destinations in its flight schedule, the new aircraft will serve new routes, Cobalt said. “Specifically, the company will soon begin to fly to Brussels, Tel-Aviv and Iran”.

China’s state-owned military aircraft manufacturer AVIC which injected €30m in equity into Cobalt a year ago, is owner of 49 per cent of the company’s shares via the AJ (Cyprus) Holdings Ltd.

Cobalt, which experienced an exodus of executives, including its former chief executive officer Andrew Pyne, weeks after launching its flight programme last summer, added that it is “constantly growing and evolving, supporting the Cypriot economy and Cypriot travellers”.

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