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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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A total of AED151 billion ($41 billion) was invested by foreigners in Dubai property market between January 2016 and June 2017. (File photo)
August 29th, 2017 - 01:12 GMT

Foreigners Invest $41 Billion in Dubai Property in 18 Months: Report

Many citizens have expressed their dismay at the high prices which tend to increase around this time of the year. (AFP/ File)
August 29th, 2017 - 12:08 GMT

Sheep Prices in Saudi Arabia Jump Ahead of Eid Al-Adha; Buyers Angry

Oman has announced a halt in permits given to non-Omani labor in certain sectors. (Shutterstock)
August 29th, 2017 - 11:50 GMT

Oman Announces Six-Month Ban on Expat Workers in Some Sectors

S&P affirmed this week its 'AA-/A-1+' long- and short-term foreign and local currency sovereign ratings on Qatar. (Shutterstock)
August 29th, 2017 - 11:28 GMT

Qatar’s Outlook Negative as Long as Blockade Remains: S&P

A combined fare on the Stockholm-Dubai route under the carrier will cost as little as $270, according to its website. (Shutterstock)
August 29th, 2017 - 11:12 GMT

In Blow to Emirates, Low-Cost Norwegian Air Plans Direct Stockholm-Dubai Flights

The expansion into Saudi Arabia is part of the franchise agreement between Majid Al Futtaim Fashion and Abercrombie & Fitch Co. announced in 2016. (Shutterstock)
August 29th, 2017 - 10:56 GMT

Abercrombie & Fitch to Open First Store in Saudi Arabia

A view of Lebanon's capital, Beirut. (AFP/ File)
August 28th, 2017 - 02:15 GMT

Lebanon's Government Debt to Reach 140 Percent of GDP in 2018: Moody's

Egypt witnessed a large flow of investment from international oil companies in the wake of the June 30 revolution. (Reuters)
August 28th, 2017 - 01:56 GMT

Egypt Signs Three New Oil Exploration Deals in Western Desert

The number of foreign workers in the Kingdom is expected to decline from 12.2 million - or 37 percent of the country’s population - to 32.6 percent by the middle of 2017. (AFP/ File)
August 28th, 2017 - 12:44 GMT

Expat Remittances Drop 8 Percent as Saudi Arabia Enforces Expat Fee

Qatar Airways Group Chief Executive, Akbar al Baker. (AFP/ File)
August 28th, 2017 - 12:24 GMT

Qatar Airways Chief Named Chairman of IATA's Board of Governors

EUR/USD on Monday hit 1.1960, the strongest level since January 2015. (File photo)
August 28th, 2017 - 12:10 GMT

Euro Hits Two-Year High, Close to $1.20

Only 192 M&A deals were recorded across the region during the first half of 2017, compared to 250 deals in 2016. (Shutterstock)
August 28th, 2017 - 11:57 GMT

Middle East's M&A Deals Drop 23 Percent in First Half of 2017: Report

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