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Looks like low cost carrier Oasis Hong Kong has gone under.
They flew a 747 service between London Gatwick and Hong Kong, and also offered a pretty decent legacy style business class at competitive prices, especially to those over 50 for whom special deals were possible.
There were also flights from Hong Kong to Vancouver.
Aloha (between Hawaiian Islands) and Maxjet (between London Stansted and New York, Vegas and LA) folded in the past six months, and fuel prices are still rising relentlessly.
It is a salutary reminder to always use a credit card to purchase airfares, which often provide some protection. Also ensure you have adequate travel insurance should the airline fail and you are forced to make alternative plans.
Adding to the list of recent airline closures are Sky Bus (a short lived US low-cost airlinemodelled on Ryanair) and American Trans Air ATA who ran flights for 35 years. All is not well in the aviation industry.