OasisHongKong goes to the wall!
April 12, 2008 Budget Airline, South East Asian Budget Airlines No CommentsOasisHongKong Airlines, a long-distance budget carrier that tried to offer premium service and spacious seats at low prices, suddenly went into liquidation Wednesday and canceled all flights, the fourth budget carrier to halt operations in the past week and a half.
The bankruptcy filing by Oasis stranded thousands of passengers in Hong Kong, London and Vancouver, British Columbia. Many of the would-be passengers stuck in Hong Kong are children trying to return to British boarding schools after going home for the spring break.
High jet fuel prices have taken a heavy toll on the airline industry and particularly on budget carriers trying to compete on price with low profit margins. The other three to shut down since March 31, all in the United States, are Aloha Airgroup, ATA Airlines and Skybus Airlines.