Oasis gone out of business?

Anyone can confirm?

reuters.com/article/…idUSB66362620080409

HONG KONG, April 9 (Reuters) - These are some of the leading stories in Hong Kong newspapers on Wednesday. Reuters has not verified these stories and does not vouch for their accuracy.

HONG KONG ECONOMIC TIMES

-- Local airline Oasis Hong Kong, launched in Oct. 2006, is said to be running out of business and will stop flying from today. The airline has reportedly accumulated losses of as much as HK$1 billion. Sources say more than HK$1 million in losses is incurred on each flight Oasis operates.

Oasis gone out of business?

That%26#39;s what the rumours say.

A great pity as well, but maybe predicted - especially as all the established carriers lowered their fares - HK$3200 + tax is now common on that route. Maybe those fares will not be seen again, and we%26#39;ll all have to go through Heathrow.

Oasis gone out of business?

RTHK NEWS

Oasis statement this afternoon on closure report

2008-04-09 HKT 12:45

Local airline Oasis is to make a statement this afternoon following a report that it is about to fold because of financial problems. The Economic Times newspaper reported this morning that the fledgling airline had suffered an accumulated loss in the region of $1-billion. RTHK understands that a management meeting was held this morning, while operations at the airline%26#39;s airport office continued as normal. Staff at the customer service centre said they had not received any notice from management about a possible closure. The Executive Director of the Travel Industry Council,Joseph Tung, says it is monitoring the situation.

I guess we can expect a massive hike in ticket prices from the other airlines again.

I had only recently heard as well that they were planning on extending their services to include a Melbourne -%26gt; HK leg as well.

Such is life.

B****r - I was about to book my summer holiday with them too.

I flew with them last year and they were fine. This year when I checked prices there was not much difference between them and other carriers, with the main difference being with Cathay / BA I can add on a European sector for only a small amount. Therefore Oasis didn%26#39;t get my booking.

Oasis has just announced they have filed for bankruptcy, and will stop all flights with immediate effect.

Oasis Airlines goes into liquidation

2008-04-09 HKT 14:18

Hongkong-based budget airline Oasis has gone into liquidation. ';It is with great regret that Oasis Hong Kong Airlines has today voluntarily applied to the Hong Kong courts to appoint a liquidator,'; the airline%26#39;s chief executive Steve Miller told a news conference.

Will exiasting bookings be honoured or refunds given - this is going to be an almighty mess I guess

So, what will happen next - especially if someone has flights booked with them?

From Oasis%26#39;s CEO;

“We have appointed KPMG to help us seek new buyers,” he said, “Passengers should dial our hotline for further assistance.”

Passengers can dial Oasis’s hotlines for further details at: 852-3628-0628 in Hong Kong, 0844-482-2323 in Britain and 188-898-30808 in Canada.

Mr Miller said Oasis was now contacting other airlines about alternative arrangements. He hoped the government and these airlines could assist stranded passengers.

At least 700 Oasis staffers would be affected by the liquidation, industry sources said.

A spokesman for KPMG said he did not know whether passengers - whose travel plans had been affected - could have their tickets refunded.