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Cobalt to bring in new investors

October 16, 2018 at 5:25pm

Cobalt has agreed in principle with a new investor who will “participate in the company’s long-term plan for development and expansion,” company spokesman Philokypros Rousounides told philenews.

The new investor is a European who is active in the field of aviation and is expected to strengthen Cobalt’s efforts to develop and achieve its goals, Rousounides added.

Closure rumours denied

Asked to comment on rumours that Cobalt is facing serious financial problems and is heading for closure, Rousounides answered that, “this development should put an end to these rumours.”

Rousounides also said that delays in flights that took place on the first weekend of October were not caused by financial problems but due to a commercial dispute.

The company’s operations have been completely restored, he concluded.