Hong Kong-based low-cost airline Oasis has gone into liquidation, cancelling all of its flights, stranding hundreds of passengers. The airline first flew in October 2006, offering flights from Gatwick to Hong Kong for as little as 1000 Hong Kong dollars (£65) each way. It later added flights from Hong Kong to Vancouver, but is reported to have been hit hard by rising fuel costs.
Oasis operated daily flights between Gatwick and Hong Kong and six services a week between Hong Kong and Vancouver. It was launched 18 months ago by husband-and-wife team Raymond and Priscilla Lee and employs 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 one billion Hong Kong dollars (£65m). Soaring fuel bills have forced other airlines out of business recently, including the Hawaiian airline Aloha and the business class airline Maxjet.
The final Oasis flight arrived in Hong Kong from Gatwick at about 07:00 on Wednesday, 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 assist at Gatwick and Vancouver airports.
BA and fellow Hong Kong airline Cathay Pacific are both offering specially priced one-way flights for stranded Oasis passengers over the next two weeks. Cathay is also scheduling extra flights.
KPMG, appointed as liquidator, advised ticket holders to call 00852 3628 0628 in Hong Kong or in the UK 0844 482 2323 for more information.
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