Cobalt Air will be a Cyprus-based airline starting with two A320 aircraft in December and boosting its fleet up to six by next May, according to In Business News.
The airline is already looking for suppliers, such as catering, but also looking to form partnerships with other companies.
Cobalt Air submitted in April an application for a licence to operate in Cyprus.
Usually it takes several months to evaluate an applicant and follow strict procedures. In Business News says the process might be concluded in November 2015.
Capital investment so farcomes from abroad but Cobalt will be a Cypriot company proper, licensed and based in Cyprus.
According to the source, Cobalt is trying to be model low-budget airline by offering all the amenities and comforts found in higher-cost companies. They also plan to offer wi-fi at a nominal fee.
Low budget airlines tend to cut cost by offering certain services to passengers who want to pay for it, thus making the ticket cheaper for those who don’t care for all the bells and whistles.
Cobalt will be running business out of Larnaca and its main destinations will include Greece, England, and Germany.