Posted by
ekimaeray
17 yrs ago
Press release at 4 pm to confirm this
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Ed
17 yrs ago
http://www.iht.com/articles/2008/04/09/business/oasis09.php
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What a shocking news. I was just browsing the web the other week for cheap flights to London and was actually considering Oasis for my trip in August. I guess other airlines will increase their prices soon as they've lost one competitor.
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Indeed. Load is not as important as yield.
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cd
17 yrs ago
Plus airport costs, they were flying between 2 of the most expensive airports to land at.
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Baru
17 yrs ago
where else could they land in Hong Kong? Maybe the old runway in Kai Tak is still useable?
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"where else could they land in Hong Kong? Maybe the old runway in Kai Tak is still useable?"
It is not. If nothing else there are buildings in the approach path. In any case I think cd was just stating a fact of life for HK based airlines.
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I thought that the London airports were extraordinarily cheap to land at because earnings were capped by the Govt. and they make so much money on property/retail that they have to stop just short of paying the airlines to land there. Or is that just Heathrow?
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No I think its still pretty expensive to land at Heathrow.
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cd
17 yrs ago
Thanks xpatguy38, thats what I was getting at, most budget airlines fly between more remote, smaller airports where landing costs are lower, Oasis was flying between 2 of the most expensive airports in the world I think, especially flying from here, I know that if you land before a certain time at LHR the landing costs skyrocket, don't know if its the same at LGW, but the flight times from HK mean you often land before that cut off time, that plus the fuel costs which have gone up so much in the last year. Hard to make much profit when charging so much less.
Still a shame, used them just a few weeks ago for my daughter coming back from UNI, and was hoping to use them at Xmas too.
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So very sad. A good airline whom I have flown with many times and had further bookings arranged in the summer. I suppose I have lost my money but at least I have not lost my job. To all those Oasis employees, I feel for you.
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out of the box, I read somewhere Heathrow was one of the most expensive airports to land at, along with being one of the most difficult to obtain slots. Its only a vague memory so I could be totally wrong. I do also remember reading that landing fees are to be scrutinized by the monopolies commission as a condition BAA's privatization and cost was prohibited from spiraling out of control which contradicts the original article I read so I probably do have it wrong.
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When CEO Steven Miller told the waiting press that 'they' were confident someone will step forward, did he mean Hainan Airlines? If so this deal seems to have gone out the window when Oasis founder Raymond Lee allegedly took a loan from Cheung Kong's Victor Li using his Oasis shares as collateral giving any outside chance of someone stepping in an unlikely event at this stage. Could Li Ka Shing's 'Cheung Kong Group' be up to something spectacular? Lets hope all is clear for those concerned by next week...
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Under consumer protection rules set by Visa & MasterCard, the cardholder has every right to demand the payment from their card issuer ( bank) if the merchant ( OASIS) does not render service for which they have collected advance payments. This is called a chargeback in the credit card industry and all Visa/MAstercard cardholders can chargeback citing " Service Not Rendered" reason code. Am not sure about Amex.
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Ed
17 yrs ago
FYI: http://www.forbes.com/markets/2008/04/14/oasis-airlines-cheungkong-markets-equity-cx_vk_0414markets03.html
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Ed, FYI from the same source: http://www.forbes.com/markets/feeds/afx/2008/04/14/afx4888917.html
hopefully they are just playing coy with Victor Li later saying will be his personal investment rather than the Cheung Kong Group as a whole buying Oasis...
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Somehow I really don't see Cheung Kong getting into the airline business, though Victor Li does have a penchant for the industry didn't he have something to do with the Canadian Air buyout. Anyway, if Oasis couldn't make the business model work, other than inject fresh capital I don't see what Li Ka Shing could do to make it profitable.
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