Another one bites the dust..

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marrymeflyfree · #1 Post by **marrymeflyfree** » Wed Apr 09, 2008 4:51 pm

From my company's daily news letter:

Oasis Hong Kong Airlines shuts down, liquidates
Oasis Hong Kong Airlines, a budget carrier that offered premium service at budget prices from Hong Kong (HKG) to London and Vancouver, liquidated Wednesday and cancelled all flights, MarketWatch reported.
Oasis joins a list of carriers that have been forced to shut down in recent days due to high jet fuel costs. In less than 10 days, Aloha Airlines, ATA, Champion (charter), Skybus and now Oasis have ceased passenger flying.

And in the same memo:

Crude, jet fuel surge Wednesday; records fall
The price for a barrel of crude oil topped $112 in early trading Wednesday before retreating and setting a new record at $110.87. The price of jet fuel also skyrocketed and closed at $144.52, crushing the previous mark set March 14.
MarketWatch said the reason for the latest increase was due to an unexpected drop in crude inventories. The crack spread - the margin refineries receive from breaking or "cracking" crude oil into jet fuel - was an astounding $33.65 Wednesday.

Rexer25 · #2 Post by **Rexer25** » Wed Apr 09, 2008 6:37 pm

I thought AirItalia was in line to park permanently.

marrymeflyfree · #3 Post by **marrymeflyfree** » Wed Apr 09, 2008 9:13 pm

Yeah, they are dangerously close to the edge.....there is/was a takeover by KLM/Air France in the works, but that seems to have stalled.

Mesa is another one on the brink. Their stock closed at under a dollar today, I think.

ulysses5019 · #4 Post by **ulysses5019** » Wed Apr 09, 2008 10:05 pm

I just hope it doesn't come to this:

http://www.youtube.com/watch?v=gSJwzYiB_Pc

kayrharris · #5 Post by **kayrharris** » Thu Apr 10, 2008 12:20 am

I got charged $3.00 per person last week to check in curb side!
I'm not kidding. You can avoid this by checking in online. Too bad, so sad for those without a computer.

marrymeflyfree · #6 Post by **marrymeflyfree** » Fri Apr 11, 2008 7:54 am

Frontier Files for Bankruptcy Protection
AP
Posted: 2008-04-11 02:39:05
DENVER (AP) - Frontier Airlines Holdings Inc. says it has filed for Chapter 11 bankruptcy protection, but plans to continue normal business operations throughout its reorganization.

The low-fare carrier said Friday the move came after an unexpected attempt by its principal credit card processor to start withholding significant proceeds from the sale of Frontier tickets, which threatened to hurt Frontier's liquidity.

Frontier CEO Sean Menke says the airline, whose major hub is in Denver, has been affected as other airlines have by rising fuel costs and the credit crisis in financial markets.