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Spirit airlines
May 2nd, 2026 - 12:50 GMT
Osama Ali

Osama Ali

Spirit airlines sinks during bankruptcy rescue amid Iran war fallout

ALBAWABA - Rising jet fuel prices have caused Spirit Airlines to give up on its recovery plan and start shutting down after failing to get a last-minute loan. The airline confirmed that all flights would be canceled and customer service would be shut down as part of an organized liquidation process. The move comes after failed efforts to get out of its second bankruptcy. Even though a large group of ...
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Corruption in the real estate sector is one of many instances of corruption in Lebanon. (Shutterstock)
February 15th, 2018 - 11:35 GMT

Corruption in Real Estate Costs Lebanon $40 Million a Year

Oil prices continued to rise on Thursday, after a lower than expected rise in U.S. inventories and Saudi renewed commitment to curtail production. (File photo)
February 15th, 2018 - 10:48 GMT

Oil Prices Rise on Thursday on US Inventory Figures, Saudi Comments

Saudi Minister of Energy Khalid Al-Falih. (AFP/ File)
February 15th, 2018 - 10:28 GMT

Saudi Arabia to Double Gas Production in 10 Years: Khalid Al-Falih

UAE's travel and tourism GDP will increase from $18.7 billion in 2016 to $34.6 billion by 2026, with Dubai leading the way. (Shutterstock)
February 15th, 2018 - 09:36 GMT

Tourism Sector to Create 77,400 New Jobs by 2026: UAE

The new tax comes on top of the value-added tax (VAT) and the already existing service tax. (File photo)
February 15th, 2018 - 09:28 GMT

Saudi Arabia Introduces New Tax on Hotels, Furnished Apartments

Hussain Sajwani, Chairman of Damac Properties. (File photo)
February 14th, 2018 - 12:19 GMT

Damac Properties Hopeful Despite Drop in 2017 Net Profit: Chairman

GCC countries are still far from adopting resolution regimes discussed during the financial crisis in 2008, a report says. (File photo)
February 14th, 2018 - 11:30 GMT

GCC Banks Still Far From 2008 Resolutions: Report

Hotels across Dubai had something to cheer about in January: they all saw more guests coming in, especially Russians. (Mohamed El-Shahed/ AFP)
February 13th, 2018 - 12:24 GMT

Dubai Hotels See Best Performance Since 2014, Thanks to Russian Tourists

The new Jeddah Downtown. (Courtesy of The Saudi Gazette)
February 13th, 2018 - 11:48 GMT

Top 10 Development Projects in Saudi Arabia, Based on Value

Good news: Jordan improved four ranks in the environmental sustainability dimension for 2017. (Shutterstock)
February 12th, 2018 - 12:27 GMT

Jordan Drops 12 Positions on World Energy Council Index

The report, by Arabian Travel Market (ATM), found that religious tourism in the kingdom is still driving demand. (AFP)
February 12th, 2018 - 11:41 GMT

Saudi Hospitality Market to Grow 13 Percent in Five Years: Report

In 2016, Oman raised the tax on tobacco by 100%, along with other GCC states. (Shutterstock)
February 12th, 2018 - 10:28 GMT

Oman to Double Tax on Tobacco, for Health Reasons

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