Cobalt’s decision to suspend operations has left passengers scrambling to secure airline seats, particularly between Cyprus and Athens, Thessaloniki, London and Paris.
Philenews said that many flights to these destinations are already nearly fully-booked, and passengers who had scheduled trips face an uphill battle to find a seat.
It said the problem is expected to become even more severe since with Cobalt grounded, some 400,000 airline seats have effectively been taken off the market and need to be replaced.
Aegean and Blue Air are working to boost Cyprus flights.
Aegean is expected to announce a number of ‘rescue’ flights to cover demand created in the first few days.
Special fares are also expected to be announced for other destinations covered by Cobalt such as Paris, Dublin and Frankfurt through Athens airport.
According to the Cyprus News Agency, Cobalt had been scheduled to carry about 120,000 passengers through to the end of year. It said the airline carried out between 13 and 15 flights a day, catering for about 2500 to 3000 passengers.
Destinations included Athens, Thessaloniki, Heraklion, Chania, London Heathrow and London Gatwick, Zurich, Paris, Tel Aviv, Beirut and Abu Dhabi.
Quoting sources, the Cyprus News Agency said that the company had lost millions of euro in two years. Among the reasons for the decision to suspend operations were its pricing policy — having started as a low cost airline and later adding a business class — and the fact that it had not entered into any alliances with other airlines.