Airline liquidator in talks with 'really serious' investors
Oasis Hong Kong Airlines is in urgent talks with about five 'really serious' investors about rescuing the insolvent airline or buying its assets, the provisional liquidator has revealed.
The interested parties are looking at taking over all of Oasis or parts of it such as the aircraft or equipment, said Edward Middleton, head of restructuring services at accounting firm KPMG.
KPMG was appointed provisional liquidator a week ago. A liquidation hearing is scheduled for June 11. Both the investment holding company and the airline operating company for Oasis are involved in the process.
'The investors need to move very quickly,' Mr Middleton said. 'The window of opportunity is short.'
The financial situation of the low-fare, long-haul start-up airline was dire, with accumulated losses estimated to be about HK$1 billion, he said.
