[UPDATE 11 October 2012: Oasis has stopped operations in 9 April 2008]
This October 2006, there will be a new no-frills airline flying the sky: Oasis Air. Based in Hong Kong, their edge among the other low cost carriers in Asia is that they offering long-haul inter-continental flights.
From Hong Kong, they will be flying initially to the London-Gatwick airport. Other destinations include Germany (Berlin and Cologne), Italy (Milan) and the United States (Chicago, San Fransisco).
As for their fares, their website states:
You can expect year-round fares 30-50% lower than those currently offered by other airlines to the destinations we serve. And some of our promotional fares will be even lower! For example, one-way fares in Economy class start at £75 or HK$1,000 (excluding taxes and charges) and include warm meals and inflight entertainment. And our Business class fares will also be very competitive — so remember to check back often!
Oh believe me, I will.