In case you don't go to the Airlines forum, or don't know that forum has been revived, here's the latest news...

Oasis Hong Kong Airlines shut its doors Wed, 4/9. O8 offered discount coach and business class service on its 747-400 from Hong Kong to London-Gatwick and Vancouver.

Reports say the Hong Kong government is asking Cathay (or other airlines) to honor tickets from O8. No confirmation about that for now.

Big news indeed, I though they were doing ok !

Glad 'airlines' has been rivived

What a pity - we flew with them in late Jan & Feb. It was cheap, and plane wasn't full, maybe thats the problem.

I'm sad I never took a flight on this airline. I know they often had great fares to Hong Kong.

Of course Harmony Airlines in Vancouver also shut down a year or so ago too.

Bloomberg story says CX is offering one-way Y tickets to London and Vancouver for HK$2500 plus taxes/charges.

Tax and fuel surcharges about HK$800. I believe you have to have a Oasis ticket valid till around end of April. If you have tickets beyond that, you're out of luck.

Bad business practices as were cited in the shut-downs of the three in the US in past days...

They didn't start up with enough money.

They couldn't negotiate good leases, and were forced to buy the 744s.

They started with a super-competitive market of Hong Kong-London with already 10 flights a day, going against some of the world's most profitable airlines - CX (x4), BA (x3), VS, QF, NZ.

They then started a second route against CX and AC to YVR, which is not a high-yield market.

They didn't have a loyalty program or partnership with other airlines for connections.

They didn't try hard enough to get business travelers.

They didn't find ways to increase revenue - like more seats or extra fees.

And of course, the four engines of their 744s use lots of gasoline; and with longhaul flights, it makes no difference if you can turn around a plane faster (which they don't anyways). And they pay the same landing fees at HKG or YVR as everybody else.

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In a nutshell, you had high fixed cost, you charged for less. Even if you packed all your flights, you still couldn't survive.

Also, I don't think their cost base matched the low-budget concept, if they're providing free movies, free hot meals, and not charging for everything like easyjet/ryanair do. Basically a failed business model, mismatch of revenues and costs.