Oasis in liquidation; stops flying
09.04.08
Hong Kong-based long haul low-cost airline Oasis has gone into liquidation, cancelling all of its flights and stranding hundreds of passengers. The airline first flew in October 2006, offering flights from Gatwick to Hong Kong for as little as £65 each way. It later added flights between Hong Kong to Vancouver, but is reported to have been hit hard by rising fuel costs and economic uncertainty.
Oasis operated daily flights between Gatwick and Hong Kong and 6 services a week between Hong Kong and Vancouver. It was launched 18 months ago by husband-and-wife team Raymond and Priscilla Lee and employed almost 700 staff.
Oasis chief executive Stephen Miller held a news conference to announce the shutdown. He said: ‘It is with great regret that Oasis Hong Kong Airlines has today voluntarily applied to the Hong Kong courts to appoint a liquidator,' but did not give any details of why it had happened.
The Hong Kong Economic Times reported that the airline was struggling with debts of up to HK$1 billion (£65m). Soaring fuel bills and a lack of fresh capital to cover start up losses have forced other airlines out of business recently, including the Hawaiian airline Aloha and business class airline Maxjet.
The final Oasis flight arrived in Hong Kong from Gatwick at 07:00 on Wednesday (local time), with passengers being told the news on board. The Hong Kong government has stepped in to co-ordinate measures to help stranded passengers and is sending staff to Gatwick and Vancouver airports to help.
BA and fellow Hong Kong airline Cathay Pacific are both offering specially priced one-way flights for stranded Oasis passengers over the next 2 weeks. Cathay is also adding extra flights.
KPMG, appointed liquidator, asked ticket holders to call 00852 3628 0628 in Hong Kong or 0844 482 2323 in the UK for more information.
Cathay has also set up a UK hotline on 0208 834 8893 for passengers to get details of special ticketing arrangements. Details can also be found at www.cathaypacific.com.
Add to: del.icio.us | Digg it | Newsvine | NowPublic | Reddit
To book gatwick airport hotels or gatwick airport parking at the lowest price click on these links to gatwick airport parking and gatwick airport hotels price comparison pages.
