Published on : Wednesday, June 22, 2016
The former national carrier of the country, Cyprus Airways, collapsed in 2013 and the economy of the country also took a huge blow.
From 2015, tourism in Cyprus started to soar. Numerous tourists visited the popular beach resorts of the island.
The CEO of Cobalt, Andrew Pyne stated that he is planning to turn Larnaca airport into a regional hub, to serve Europe and Middle East. He also added that Cobalt is planning to be the national airlines of Cyprus in future.
Local and Chinese investors came together to finance Cobalt airline.
The airline will start with five planes in July. They are planning to double the number of jets by the end of 2017.
Cobalt will render its service to eight destinations in Britain, Greece and Ireland. It is also planning to open routes to Asia, Tehran and Tel Aviv.
Among the 150 staffs of Cobalt, many are former employees of the Cyprus Airways.
Fiona Mullen, the director of Sapienta Economics said, “There was a realisation after the financial crisis that there was a sector they weren’t making the most of. The strategy is extra airlines, but also trying to extend the tourism season.”
In 2015 the tourism sector earned the revenue of 2.11 billion Euros. Almost 2.65 million tourists arrived in Cyprus in the year 2015.
The new airline Cobalt will definitely give the tourism sector in Cyprus a very healthy boost.