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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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Oil prices settled at a two-week high on Friday, as geopolitical uncertainty in the Middle East raised the threat of supply disruptions. (AFP/ File)
October 16th, 2017 - 09:28 GMT

Oil Prices Soar on Rising Iraqi-Kurdish Tensions

Royal Jordanian had approved a new turnaround plan last week. (Don Emmert/ AFP)
October 15th, 2017 - 01:36 GMT

Royal Jordanian Vows to Make Profit in 2017 With 'Turnaround Plan'

Kuwait cracks down on non-degree holders and vows to punish violating companies. (AFP/ File)
October 15th, 2017 - 01:04 GMT

University Degree Obligatory for Residency Renewal: Kuwaiti Minister

The 286 Jazan islands are one of the biggest island groups in the southern part of Red Sea. (AFP)
October 15th, 2017 - 12:50 GMT

Islands for Sale: 286 Islands Looking for Investors in Saudi Arabia

Government-owned master developer Dubai Holding is believed to be reassessing the project. (File photo)
October 15th, 2017 - 12:35 GMT

Dubai Holding Puts $20.2 Billion Jumeirah Project on Hold

A total of $16.3 billion in remittances was sent to Egypt between November 2016, when Egypt floated its currency, and August this year. (File photo)
October 12th, 2017 - 01:27 GMT

Remittances From Egyptian Expats up 40 Percent in August 2017: Central Bank

According to Turkey's Deputy Prime Minister Mehmet Simsek, the US-Turkey visa row is only a temporary dispute that will be resolved soon. (AFP)
October 12th, 2017 - 01:03 GMT

Turkey-US Visa Row Likely to Be Resolved Soon: Deputy PM

The cost of bribery in Kuwait is $2 billion a year, or two percent of the country's total GDP. (File photo)
October 12th, 2017 - 12:46 GMT

Bribes Cost Kuwait $2 Billion a Year: IMF

The bank said it is committed to supporting only those companies with a greener agenda. (Eric Piermont/ AFP)
October 12th, 2017 - 12:38 GMT

Paris-Based BNP Paribas Says It Will No Longer Back Oil

Exemptions for Saudi firms investing in Abu Dhabi will be related to land, lease and rents. (File photo)
October 12th, 2017 - 11:31 GMT

Saudi Firms Investing in Abu Dhabi Will Get Special Exemptions, Says UAE Official

Saudi Aramco celebrated this week the opening of a new office in India. Here's why it's good news for oil markets. (File photo)
October 11th, 2017 - 07:00 GMT

Opinion: Why Saudi Aramco's New India Office Is Good News for Oil Prices

Russia has been backing Bashar al-Assad in the long-running civil war in Syria. (AFP/ File)
October 11th, 2017 - 06:00 GMT

Russia Eyes Direct Shipping Line to Syria, a Boost for Syrian Regime

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