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Cyprus

Court injunction suspends decision to revoke Cobalt licences

Virgin Atlantic has secured a court injunction suspending a transport ministry decision to revoke the operating licences of Cobalt Air, which suspended its operations last month.

The authorities revoked Cobalt’s licences after it suspended operations on October 17 following its failure to secure the necessary cash to keep it going.

Transport Minister Vasiliki Anastasiadou confirmed on Friday that the ministry has been informed of a court injunction secured by Virgin Atlantic suspending the decision.

The minister said it is an interim decision and the sides will meet in court on Monday to present their respective cases.

Reports suggested Virgin’s action was likely linked to the fact that it owns the Heathrow airport slot used by Cobalt and risks losing it after the company had its licences revoked.

The transport ministry had revoked Cobalt’s commercial and operating licences the day after the company announced it was grounding its fleet.

Despite being given time, the airline had failed to raise the cash necessary to keep it going.

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