Another Airline Collapse

April 2008 | Top Stories

Oasis Hong Kong Airlines announced its fall into financial liquidation on April 9. The start-up airline, which was established in 2006 by several Hong Kong investors led by Reverend Raymond Lee with a starting capital of US$100mn, is the latest airline to fall as carriers struggle with high fuel costs and low consumer spending due to weak economic growth. Since December, in the US alone, five airlines have collapsed, with start-up carriers being the worst affected.

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