http://www.china-briefing.com/news/2008/04/11/rising-fuel-prices-cause-oasis-airline-to-shut-down.html Fri, 10 Feb 2012 06:20:47 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.china-briefing.com/news/2008/04/11/rising-fuel-prices-cause-oasis-airline-to-shut-down.html/comment-page-1#comment-10202 Chris Devonshire-Ellis Sun, 13 Apr 2008 23:12:01 +0000 http://www.china-briefing.com/news/2008/04/11/rising-fuel-prices-cause-oasis-airline-to-shut-down.html#comment-10202 My sources tell me Hainan Airlines have been conducting due dilligence, looking at an acquisition, but there are some sticky problems with some of Oasis financing arrangments. Apparently Oasis have been losing USD2 million a week. Hainan have long been after some international routes however and a purchase of Oasis may give them that. Rather like the mainland bailed out Tung Chee Hwa's OOCL all those years ago, will China bail out Raymond Lee ? The liquidation hearing is on June 11th, and is being handled by KPMG. It'll be interesting to see if they let it go under or who alternatively may emerge as a savior. My sources tell me Hainan Airlines have been conducting due dilligence, looking at an acquisition, but there are some sticky problems with some of Oasis financing arrangments. Apparently Oasis have been losing USD2 million a week. Hainan have long been after some international routes however and a purchase of Oasis may give them that. Rather like the mainland bailed out Tung Chee Hwa’s OOCL all those years ago, will China bail out Raymond Lee ? The liquidation hearing is on June 11th, and is being handled by KPMG. It’ll be interesting to see if they let it go under or who alternatively may emerge as a savior.

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