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24 May, 2022
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Vehicles block repossession of Cobalt planes

Pilots from General Electric’s subsidiary company prevented from flying out planes leased to Cobalt


Pilots from the US, who came to Cyprus to repossess planes leased to Cobalt, were not allowed to fly them out, with the governments of the two countries being called to weigh in.

Airline captains from GE Capital’s Aviation Services (GECAS), an Irish–American commercial aviation financing and leasing company, came to Cyprus to take hold of the planes. The aircraft were being leased to Cyprus-based Cobalt Air until the regional airliner was forced to suspend all operations due to financial difficulties earlier this month.

The pilots were shocked to find their planes blocked by vehicles, preventing any movement of the aircraft

According to Cyprus Times, the pilots were shocked to find their planes blocked by vehicles, preventing any movement of their aircraft.

The standoff has been taking place for five days, with reports saying the Transport Ministry is aware of the situation while the pilots have called on the American Embassy in Nicosia to assist with the repossession attempt of the planes.

The former Cyprus Airways which went bankrupt in 2015 was also leasing planes from GECAS, where the repossession was reportedly resolved in a matter of days.

Administrators and staff from the defunct former Cyprus Airways were taken in by Cobalt when the new company assumed operations two years ago, while Charlie Airlines acquired the rights to use the Cyprus Airways trademarks and brand, which represented the flag carrier airline of Cyprus from 1947 through 2015.

Cyprus  |  Cobalt  |  planes  |  GECAS  |  GE  |  lease  |  airplane  |  airways  |  airline  |  travel  |  aviation

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