The Cypriot carrier has gone the way of Primera Air and Monarch. What is going on in Europe's aviation industry

Cobalt has become the latest European budget airline to go bust, following Danish carrier Primera Air, which ceased trading earlier this month. While the Cypriot airline had only two years of flying behind it, after stepping into the breach left by the failure of the national carrier Cyprus Airways, Primera had flown for 14 years. Both carried a fraction of the passengers of British holiday airline Monarch, which collapsed last year.

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