Oasis Hong Kong Airlines liquidator KPMG said Friday that the deadline to find a new buyer or investor had passed despite "substantive negotiations with several interested parties" and that there now was "no alternative but to reduce costs substantially." Jobs of all pilots, cabin crew and office staff were terminated, with a "small number" kept on to assist the liquidators, KPMG announced. Reuters reported that about 700 lost their jobs. Oasis ceased operations on April 9 (ATWOnline, April 10).

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