A Cypriot Administrative Court has temporarily reinstated Cobalt's Air Transport Licence (ATL) after overturning an earlier Air Transport Licensing Authority (ATLA) decision to withdraw it.
"Following a unilateral request from Virgin Atlantic (VS, London Heathrow), the execution of the ATLA's decision to suspend Cobalt's ATL, has been suspended until the case has been formally adjudicated. On Monday [November 5], we will bring before the court, through the lawyers of the Republic, our objections to the matter," Cypriot Minister of Transport, Vasiliki Anastasiadou, told the Greek language Alpha news channel on Friday, November 2.
According to the report, Virgin Atlantic had leased London Heathrow slots to Cobalt and was in danger of losing them given the cancellation of Cobalt's operating licences.
As such, in addition to saving the UK carrier's coveted Heathrow slots, the formal reinstatement of Cobalt's ATL would allow the Cypriot carrier to continue its hunt for a Good Samaritan investor willing to revive its operations.
