Young Cyprus carrier Cobalt Air is planning to move into the long-haul market, taking advantage of its substantial Chinese shareholder base. As a European Union (EU)-based airline, by law Cobalt must have a majority of EU-based shareholders. However, 49% of the Larnaca-based carrier is held by Chinese state-owned Aviation Industry Corp. of China (AVIC). “The Chinese investor group is very eager to connect us with China,” Cobalt CEO Andrew Madar told ATW. “We know ...

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