Cypriot budget airline Cobalt flying from Heathrow and Gatwick collapses and suspends all flights from midnight leaving passengers stranded ahead of half-term getaway

  • Cobalt Air had two or three flights a day from Heathrow and Gatwick to Larnaca
  • The airline, which began in April 2016, ceased operations from midnight today
  • Not immediately clear what would happen with passengers with future bookings

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

Cobalt Air, which was the largest carrier in Cyrus, operated two or three flights a day from Heathrow and Gatwick to Larnaca on the south coast of the Mediterranean island.

The airline, which began in April 2016, ceased operations effective today, with the final flight from Heathrow expected landing in Larnaca shortly after 10pm. 

Cobalt Air, which was the largest carrier in Cyrus, operated two or three flights a day from Heathrow and Gatwick to Larnaca on the south coast of the Mediterranean island

Cobalt Air, which was the largest carrier in Cyrus, operated two or three flights a day from Heathrow and Gatwick to Larnaca on the south coast of the Mediterranean island

It was not immediately clear what would happen with passengers with future bookings. Cypriot transport minister Vassiliki Anastassiadou said alternative arrangements would be made, the semi-official Cyprus News Agency reported. 

Reports in several Cypriot media outlets this week suggested Cobalt's mainly Chinese backers had difficulty channelling funds to the airline, which operated with six leased Airbus planes. 

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

It said in a statement tonight: '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.

'Passengers who have un-flown tickets are instructed not to go to Larnaca Airport or any departure airport tomorrow, 18 October 2018 as no Cobalt flights will operate and no Cobalt staff will be present.

Cobalt flew from Heathrow and Gatwick to Larnaca Airport, which is pictured in this undated file photo 

Cobalt flew from Heathrow and Gatwick to Larnaca Airport, which is pictured in this undated file photo 

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

The airline has a staff of about 200, and had sought to fill a gap in Cypriot air transport following the demise of Cyprus Airways in early 2015, a state-controlled carrier that dominated mainly short routes from the island.

Another company has since named itself Cyprus Airways after acquiring the logo and the brand from the Cypriot state. Cobalt employed many pilots from the former state carrier.

The news comes just two weeks after Latvia-based Primera Air filed for bankruptcy and a month since Belgian airline Skyworks took the same course. 

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

Major Cyprus airline flying from Heathrow and Gatwick collapses and grounds flights

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