Hong Kong Oasis Airlines reportedly stops bookings amid reports of financial problems
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China,
Oasis Hong Kong
(XFN-ASIA) Oasis Hong Kong Airlines has reportedly stopped accepting bookings amid media reports that financial difficulties may force the company to cease operations.
Some of Oasis' general travel agents stated they were unable to make bookings for Oasis flights on the airline's online booking system as of this morning.
"We don't know what's happening at Oasis, but we have read some reports that the company is purportedly in financial trouble," said one of the agents.
The Economic Times previously reported, citing an unidentified source, that Oasis would stop all flights from today,
The newspaper stated Oasis has accumulated losses of approximately USD128.4 million since its launch in 2006 as it offered reduced fares for long-haul services to London and Canada while underestimating its costs.
The airline is currently offering return fares London from Hong Kong for as low as USD257.
The Economic Times added that Oasis shareholders are looking for a buyer for the company.
Oasis Hong Kong currently offers daily service between Hong Kong and London and six times weekly service between Hong Kong and Vancouver.
Date posted: 09-Apr-08
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Hong Kong Oasis Airlines reportedly stops bookings amid reports of financial problems 
