Oasis Airlines goes into liquidation

[vlawkh]

from http://www.rthk.org.hk

Oasis Airlines goes into liquidation

2008-04-09 HKT 14:18

Oasis chief executive Steve Miller and Eddie Middleton of financial advisers KPMG at news conference. The budget airline, Oasis, has gone into liquidation - and all flights have been suspended. The accounting firm, KPMG, has taken over responsibility for the airline. The chief executive of Oasis, Steve Miller, made the announcement at a news conference. Passengers have been asked to contact the Oasis hotline. Oasis said it was in contact with other airlines about alternative arrangements. The airline launched services to London in October 2006. It also flew to Vancouver. A report in the Economic Times newspaper today said the airline was struggling with debts of up to $1-billion.

another airline closedown, and guess will be end of sweet deals on LHR and YVR (in particular) routes.

[milehighj]

Funny how in this article from last september everything was supposedly going great guns...


Low-cost long-haul formula is a hit for Oasis
Oasis Hong Kong Airlines is almost a year old – and its affordable business class formula has been a resounding success for the company’s founders. Now the company is targeting rapid growth, as Liz Moscrop discovers

....

Oasis broke even after just five months. The airline attributes this to lower maintenance and fuel costs created by flying long haul. It also has a lower cost per passenger-kilometre compared to other airlines. Its target passengers are business travellers and those who used to have to transfer en-route to get to London. Oasis plans to hedge a proportion of its fuel purchases to guard against future fuel price increases.


http://www.flightglobal.com/articles...for-oasis.html

[EWR]

Do customers of future flights get a refund? I understand they need to rebook and pay for these rebookings

[jhm]

Do customers of future flights get a refund? I understand they need to rebook and pay for these rebookings

I think there would be 3 possibilities:

(i) your credit card company if applicable;

(ii) travel insurance - scheduled airline failure (not all policies cover this); or

(iii) something like the UK's ATOL bond scheme if applicable.

If none of the above applies, then the pax will have to try to get the money back from Oasis - which I imagine would be less than what's paid (or nothing at all) if the airline is insolvent.

[huaiwei]

Now all eyes will be on AirAsia X as the sole long-distance Asian LCC.

[flyboy777]

Oasis Hong Kong really were something quite spectaculur. Livery apart, they provided an affordable, comfortable means of flying out to the Far East on a fleet of B747s. However, with such long sectors, fuel prices really must have hit them hard. Still, it'll be interesting to see what carriers such as Emirates & Qatar do now to HKG?