Hong Kong - Budget Carrier Oasis Hong Kong airlines has shut down its operations on 9 April, after being in service for just over 17 months. The airlines has made headlines by offering one-way fares to London for as low as HK$ 1,000 (S$177), taking on Cathay Pacific Airways on some of its profitable routes. That is just 20% of the standard fares of its rivals, but is was losing money on the flight.
Rising oil prices have been blamed, along with higher landing fees at Chek Lap Kok, Asia's 3rd busiest airport. Oasis will make it the 4th airline worldwide to shut down within 2 weeks after a 73 per cent surge in fuel costs over the past year. US carriers ATA Airlines, Aloha Airgroup and Skybus Airlines have all ceased operations since March 31.
Rising oil prices have been blamed, along with higher landing fees at Chek Lap Kok, Asia's 3rd busiest airport. Oasis will make it the 4th airline worldwide to shut down within 2 weeks after a 73 per cent surge in fuel costs over the past year. US carriers ATA Airlines, Aloha Airgroup and Skybus Airlines have all ceased operations since March 31.
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