Brit tourists face being stranded as Cobalt Airlines collapses with all flights SUSPENDED from midnight
The cash-strapped carrier reportedly failed to secure last-minute investment - which today left it with only £13million on its books
BRIT tourists face being stranded tonight after the shock collapse of an airline led to all flights being grounded.
Cash-strapped Cypriot carrier Cobalt - which flies thousands of British holidaymakers to the Med every year - went bust today.
All routes will now be suspended from midnight — including those serving London Heathrow, Stansted and Gatwick.
The firm said in a shock statement this evening: "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.
"For refunds, please contact your credit card provider or Travel Agent.
"We sincerely apologise once again and would like to thank our very loyal customers for their support over the last two years of Cobalt operations."
The airline had reportedly failed to secure a last-minute lifeline investment and was left with only £13million on its books.
Cypriot transport minister Vassiliki Anastassiadou said alternative arrangements would be made for passengers.
But it was not immediately clear what would happen to stranded travellers — or customers with future bookings.
The airline has a staff of about 200 and had sought to fill a gap in Cypriot air transport following the demise of state-run Cyprus Airways in early 2015.
Its last ever UK flight was a departure from London Heathrow at 6pm this evening — which landed in Larnana shortly before 10pm.
Cobalt also had routes to several other major destinations including Paris, Madrid and Dublin.
It also flew to Abu Dhabi in the Middle East, as well as Tel Aviv in Israel and Moscow in Russia.
The carrier had expanded rapidly to about 20 destinations since its launch and adding a business class and frequent-flyer programme.
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Another company has since named itself Cyprus Airways after acquiring the logo and the brand from the Cyprus government.
It comes just weeks after Icelandic budget carrier Primera Air also ceased operating.
Primera blamed it on cancellations forced by the late arrival of new Airbus jets and the failure to secure long-term funding.
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