Cobalt, the new Cypriot low-cost carrier, is planning to start operations at the end of March, once its air operator’s certificate (AOC) is finalized. CEO Andrew Pyne told media that the airline is “90% through the AOC process” and just needs to complete a facilities inspection and proving flight. The new venture is being funded by local entrepreneur Gregory Diacou and an unidentified Hong Kong-based firm. Cobalt will operate from Larnaca Airport, using an initial fleet of three leased A320s, which will mainly operate charter flights before moving into scheduled services.

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