Oasis - liquidation?

Old Apr 8, 08, 8:09 pm
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Oasis - liquidation?

There is a rumour that Oasis went into liquidation process this morning. CX is requested by the government to assist in honouring Oasis' ticket commitments.
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Old Apr 8, 08, 8:16 pm
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Not at all surprising for an airline that basically flooded capacity into well-served markets with fierce competitors who could match Oasis in costs and draw upon commercial strengths in the battle for business. It's a miracle they lasted this long, really.
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Old Apr 8, 08, 8:17 pm
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Yes, a few sources saying that's the case.
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Old Apr 8, 08, 8:22 pm
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I think the main reason for Oasis's failure is that they just couldn't find any fresh capital, because potential investors have no confidence in their future. I know of someone whose company was approached by Oasis last year for new financing, but after looking at Oasis's profit/loss statement and other data, the company backed off.

Last edited by pacificboot; Apr 8, 08 at 8:34 pm
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Old Apr 8, 08, 8:40 pm
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I hope that is not true. Competition is always good.
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Old Apr 8, 08, 8:53 pm
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Unfortunately its true.
Wait to see how long it takes for Cx's prices to YVR and LHR rise..
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Old Apr 8, 08, 9:02 pm
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I suggest if people want to book cheap Cathay Pacific Business Class tickets to YVR, they should do so NOW. I have seen the fares from HKG-YVR in J drop from about HKD40,000 to HKD22,000 (available now) after O8's entry. I bet it will raise immediately after O8's demise.

Last edited by pacificboot; Apr 8, 08 at 9:15 pm
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Old Apr 8, 08, 9:22 pm
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Funny you mention that.

I thought the same thing and booked a 22K (HKD) J ticket for the Mrs. this morning as I am sure by this time tommorow it will be back to 40K HKD
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Old Apr 8, 08, 9:24 pm
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Originally Posted by pacificboot View Post
I suggest if people want to book cheap Cathay Pacific Business Class tickets to YVR, they should do so NOW. I have seen the fares from HKG-YVR in J drop from about HKD40,000 to HKD22,000 (available now) after O8's entry. I bet it will raise immediately after O8's demise.
This is exactly what I have done first thing this morning for my HKG-YVR RT J trip in July, ticket issued and locked in at the cheap pricing. My travel agent said O8 bookings are no longer valid as of 1030AM HKT this morning (O8 officially tanked) and CX may quickly revise its pricing.
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Old Apr 8, 08, 9:26 pm
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This loss of airlines is devastating and unprecedented I guess the O8 aircraft are destined for BCF conversions then?
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Old Apr 8, 08, 9:30 pm
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Originally Posted by pacificboot View Post
I suggest if people want to book cheap Cathay Pacific Business Class tickets to YVR, they should do so NOW. I have seen the fares from HKG-YVR in J drop from about HKD40,000 to HKD22,000 (available now) after O8's entry. I bet it will raise immediately after O8's demise.
That's what I thought so I got my parents to buy the CX I fare a few hours ago. It's actually HKD 20,600 a/i.
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Old Apr 8, 08, 9:35 pm
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A lot of flight crew and cabin crew jumped from CX to O8...I wonder what their options are for rejoining CX now?
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Old Apr 8, 08, 9:53 pm
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O8 has filed with the High Court and a press conference will be held 4PM HKT.
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Old Apr 8, 08, 9:57 pm
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It may still be early, but their website doesn't imply anything so far. Is this definite? If so, it's really sad! I was hoping they'd come to either JFK or EWR so they could help drive down J and Y prices to HKG. This is really very unfortunate. Too many carriers are tanking now, possibly due to high air fuel costs. I think something like 3 carriers went down in the US alone this past week.
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Old Apr 8, 08, 10:03 pm
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Exclamation Website not accpeting new bookings

Originally Posted by G-man82 View Post
It may still be early, but their website doesn't imply anything so far. Is this definite? If so, it's really sad! I was hoping they'd come to either JFK or EWR so they could help drive down J and Y prices to HKG. This is really very unfortunate. Too many carriers are tanking now, possibly due to high air fuel costs. I think something like 3 carriers went down in the US alone this past week.
Yes! The website has just stopped accepting new flight bookings! I checked on all the random dates and it shows that no flights are available. I think it has become official that O8 has ceased operations!
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