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Will Anyone Rescue Oasis HK Airlines?
will close on 2008-06-30 EDT
It is with regret that Oasis Hong Kong Airlines announced that the airline has applied to the Hong Kong Court to appoint a provisional liquidator on 9 April 2008. Its flight operations have been canceled until further notice. The short-living airline, commenced low-fare long-distance service in October 2006, were flying daily non-stop between Hong Kong and London and 6 times weekly between Hong Kong and Vancouver.

Oasis was suffered from short of cash flow due to unfavorable contracts of using airplanes, and high fuel price etc. Will it find any investors to save it from bankruptcy?
Community Prediction:
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5 News 7 Comments Report ace111 ace111 (852)
Predictions
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News & Video (5)
Add News / Video 1 - 4 of 5 news / videos
0 vote This is Good This is Bad
A
2008-05-07
The sudden collapse of Oasis Hong Kong Airlines sh... (more)
0 vote This is Good This is Bad
B
2008-05-01
The past month has confirmed that Asian airlines a... (more)
0 vote This is Good This is Bad
C
2008-04-30
April 30 (Bloomberg) -- Silverjet Plc rose as much... (more)
+ 2 votes This is Good This is Bad
 
2008-04-15
April 15 (Bloomberg) -- Cheung Kong (Holdings) Ltd... (more)
Comments (7)
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  1. Tony Tony 25 days ago
    0 vote This is Good This is Bad
    predicted: [ Most Likely ] [ 100% ] No
    (more)
    Any update on the current situation of Oasis Airlines?
    [ reply ]
  2. black-shoulder black-shoulder 30 days ago
    + 3 votes This is Good This is Bad
    predicted: [ Most Likely ] [ 55% ] Li Ka-Sing will invest
    (more)
    The latest has it that Li is meeting some obstacles in his wish to acquire Oasis.

    My feeling is: he is just trying to squeeze the creditors and try to find a way to carry as little, if not none at all, of any financial responsibility that is owed by Oasis. Smart business decision; not necessarily the most noble act though.
    [ reply ]
    1. Thinkr Thinkr 30 days ago
      + 1 vote This is Good This is Bad
      Yet he sounded very noble. He said, regarding rescuing Oasis, he had been very supportive for many entrepreneurs in HK.
  3. black-shoulder black-shoulder 31 days ago
    0 vote This is Good This is Bad
    predicted: [ Most Likely ] [ 65% ] Others will invest
    (more)
    The business model is actually one that CAN work, providing that Oasis hooks up with other short-distance budget airlines to provide a better network for budget travelers. I think some investors would be interested in taking over the business, but that one will most likely NOT be Li Ka-Sing, who seldom goes out of his comfort zone in investment in a grand way.
    [ reply ]
    1. ace111 ace111 31 days ago
      + 1 vote This is Good This is Bad
      In fact Li always walked out of his comfort zone (real estate) - he invested in oil industry, banking, superstores, transportation, etc.
  4. Homer Homer 31 days ago
    + 1 vote This is Good This is Bad
    predicted: [ Most Likely ] [ 63% ] No
    (more)
    low-fare & long-distance... With skyrocket oil price, this business model seems very risky. If the bankruptcy is only caused by cash flow issue, it might get bought out.
    [ reply ]
  5. ace111 ace111 31 days ago
    + 4 votes This is Good This is Bad
    predicted: [ Most Likely ] [ 70% ] Li Ka-Sing will invest
    (more)
    Li's family had been interested in airlines industry for a long time. A few years ago, it tried to rescue Air Canada but the local government intervened the deal. Rumors also said that it scared other investors away from helping Oasis, and caused Oasis to reach the edge of bankruptcy now.

    After all, Oasis was a legend itself. It was founded by Rev. Raymond C. Lee, and his wife, Priscilla H. Lee in February 2005. Lee, who is also a Christian pastor, said in explaining the company's business model of "doing well by doing good."
    [ reply ]
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