CYPRUS: Cypriots travelling abroad decreased after Cobalt collapse

Cyprus residents travelling abroad in October amounted to 115,022 marking a decrease of 2.8% compared with the same month last year, this fall coincides with the collapse of Cypriot airliner Cobalt Air.

Compared with September 2018, Cypriot residents travelling abroad declined by 11.2%, the Cyprus Statistical Service (Cystat) said on Monday.

According to Cystat, in October there was an increase of 1.9% in the trips of residents to Greece (45,418 compared to 44,573 in October 2017) and a decrease of 35.8% in the trips of residents to the United Kingdom (12,944 from 20,152 last year). Trips to Russia (6,032) were also up 21.3%.

The largest Cypriot airline Cobalt Air had its license revoked after cancelling all its flights and indefinitely suspending operations on October 17, leaving thousands stranded.

Cobalt, which was based at Larnaca airport, had operated since 2016 and flew to 23 destinations.

In the UK, the airline operated flights at Heathrow, Stansted, Gatwick and Manchester. It closed after failing to secure long-term funding.