Cobalt fires CEO Madar after 22 months in office (Correct)


(Replaces reference to CEO with “accountable manager” in first paragraph)

By Stelios Orphanides

The board of directors of Cobalt Air appointed Guy MacLean as the airline’s accountable manager, replacing Andrew Madar.

In a telephone interview, Maclean confirmed the decision of the company which also notified the Civil Aviation Authority.

Madar took over as the company’s top executive after the resignation of his predecessor Andrew Pyne in August 2016, two months after the company received its commercial licence. The reasons for the divorce are unknown.

The company was not immediately available for comment.

The Cyprus Business Mail understands that the changes in the company’s management went beyond Madar.


About Author

Stelios Orphanides is a journalist at To contact Stelios Orphanides: [email protected]

  • alexander reutersward

    Lets hope that the bankruptcy not is close by…

    • Rory Keelan

      My thoughts exactly – but as this is Cyprus, all tragedies have three acts. That said, I have actually flown Cobalt to/from Athens. Plane was fine, crew were friendly and helpful and only minus was flight back (long day trip for visa purposes) was very late,