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But unlike Oasis, Hong Kong Airlines is still very mch a going concern, and no passenger with a forward booking will lose out.
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That covers almost everyone with forward bookings.
What are the holiday companies doing about forward bookings?
"We have strong forward bookings and we are very committed to the business," she said.
With forward bookings up on this time last year, we are gearing up for a busy summer period".
The normal time for tour operators to fail is the autumn, when the bills from airlines and hotels are coming in, but cash for forward bookings is not.
"Long-haul premium traffic has softened after the summer and forward bookings are being affected by the increased anxiety in financial markets and by the uncertain economic outlook".
Forward bookings have also been in decline by as much as 20%, with thousands of rooms still to be filled for Spring and Easter.
"The recent positive news from the United States is a welcome development, but is not yet showing in forward bookings," said the chairman of British Airways, Lord Marshall.
And the latest figures show that the number of vehicles riding up SeaFrance ramps rose by 4.5 per cent, year on year, last month, while forward bookings for the summer season are strong.
"We are seeing some weakness in forward bookings into September, October, November, and that leads us to be more cautious on the full-year guidance," Michael O'Leary, Ryanair's chief executive, said in a conference call with analysts on Wednesday.
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CEO of Professional Science Editing for Scientists @ prosciediting.com