Oasis Hong Kong Airlines, a long-haul budget carrier that tried to offer premium service and spacious seats at low prices, suddenly went into liquidation on Wednesday and canceled all flights.
It was the fourth budget carrier worldwide to halt operations in the last week and a half. The bankruptcy filing by Oasis stranded thousands of passengers in Hong Kong, London and Vancouver.High jet fuel prices have taken a heavy toll on the airline industry and particularly on low-margin budget carriers trying to compete on price. The three others to shut down since March 31, all in the United States, were Aloha Airgroup, ATA Airlines and Skybus Airlines.
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