On the Belt & Road: Cobalt Air boosts regional connectivity
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Located at the crossroads of Europe, Africa and Asia, Cyprus stands at a strategic point between three continents. An island nation in the middle of the Mediterranean Sea, its tourism potential knows no bounds, and that can be seen in how the local commercial airline Cobalt Air, is looking to introduce a direct flight to the Chinese Mainland. Our reporter Jiang Shaoyi has more.
Blue is the color of Cyprus.
ANDREW MADAR CEO, COBALT AIR "This is an island a lot of blue water around it, sky is blue most of the time."
And that color is now really taking off, from the Mediterranean to the rest of the world. Cobalt is now the leading flight carrier on the island. And it's only taken two years to make its mark after it's launch in mid-2015.
GEORGIOS INGLESIS SENIOR CAPTAIN, COBALT AIR "A very fast-growing company, this gives me motivation about my job."
Cobalt now connects Cyprus to 16 cities across Europe and the Middle East. Using the island as a connection hub formed a big part of the company's initial business plan after it took advantage of a sudden domestic vacuum.
JIANG SHAOYI LARNACA, CYPRUS "The aviation sector of Cyprus has undergone a rapid change since 2 years ago when its state-backed Cyprus Airways went into bankruptcy. Just one year later, the Cobalt Air was born and filled the gap. As the island's lucrative tourism market continues to grow, Cobalt is winning travelers' hearts with its quality service and ultra-low fares."
The tourism sector in Cyprus has expanded by about a fifth over the past 12 months. And Cobalt is certainly playing its part in that growth, serving more than 750 thousand passengers in 2017, a four-fold increase on the previous year. Joy Group, under the Aviation Industry Corporation of China, is now a minority 49 percent shareholder in the company. Cobalt now has a vision of launching a direct flight between the Chinese Mainland and Cyprus.
ANDREW MADAR CEO, COBALT AIR "China market is massive, we think that tourism from China to Europe is going to continue for several years to come. 40 percent of the traffic from China to Europe is through the gulf to connections. We think we can steal a whole bunch of that, with connections through Cyprus to rest Europe. and also China connecting to Africa, so these all made China very attractive long haul."
What's even more attractive is the China-proposed Belt and Road initiative, which is bringing Cobalt and indeed Cyprus more opportunities.
ANDREW MADAR CEO, COBALT AIR "We're bringing in a lot of employment and opportunities to the island, in addition, facilitating the connectivity of the island to the rest Europe, better than ever before, to these big capital cities across the country. We're bringing direct impact on GDP of the island."
Cobalt has added even more cities to its 2018 summer schedule this year. And it will give Chinese holiday-makers easier access to Cyprus by opening a flight to Abu Dhabi. So they can enjoy all the different kinds of blues that Cyprus has to offer. JIANG SHAOYI CGTN LARNACA, CYPRUS.