In an interview with Air Transport World online, Australian businessman Peter Kelly, CEO of Cobalt Air said: "It is correct that we have now formally applied for our AOC. This is progressing well and for some time now we have had informal contact with the Cyprus DCA on this matter. We are now officially in the midst of a very formal, structured and detailed process.”

He also said that Cobalt Air was the Cyprus-registered name of the operating company, but that this should not be assumed to be the brand name.

"We are establishing a ‘new age’ airline that will be based in Cyprus and will operate regionally and throughout Europe. We believe Cyprus provides an excellent environment in which to develop a new airline for a pan-European market.”

ATW reports that the company hopes to be able to launch operations later this year, initially serving up to 10 destinations.

Last month the Cyprus Communications Ministry spokesperson Demetris Constantinou said that the company had already submitted the Cyprus Air Operator Certificate to the Department of Civil Aviation.

The company could plug the gap left by Cyprus Airways - the airline, which once dominated the local air travel market.

Cyprus Airways closed down in January, after EU Competition Commissioner Margrethe Vestager said that the airline had no possibility of becoming viable without continued state subsidies.

Source: Famagusta Gazette