Oasis Hong Kong Airlines to cease operations

Oasis Hong Kong Airlines to cease operations


Oasis Hong Kong Airlines (Hong Kong) is expected to make an announcement at 2 pm local time today that it will cease operations because of losses. It is reported that the airline has accumulated losses as much as $128 million USD and loses more than $128,000 USD per flight. Oasis began flying to London in October 2006 and added services to Vancouver a year ago in a bid to challenge Cathay Pacific Airways (Hong Kong). It initially offered tickets to London Gatwick for as little as $128 USD one-way, less than 20% the price then charged by Cathay Pacific for flights to Heathrow. With the price of fuel surging upwards by more than 73% in the past year, Oasis would be joining several other airlines in the past month in ceasing operations.