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Spirit airlines

May 2nd, 2026 - 12:50 GMT

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 ...

RHIA can currently accommodate 5 million passengers while the number of passengers surpassed 9 million, according to Public Works and Transport Minister Youssef Fenianos. (Wikimedia Commons)

March 5th, 2017 - 07:00 GMT

Lebanon signs agreement with MEA for feasibility study of international airport expansion

The railway industry now stands on the brink of great change with increasing innovation and disruption in transport sector. (Shutterstock)

March 5th, 2017 - 06:09 GMT

Middle East Rail 2017 promotes WEF's Vision for Arab Employment Initiative

The Cabinet endorsed a new process for issuing visas for Sudanese and Yemeni nationals to enter the Kingdom, in a bid to promote the medical tourism sector. (Fotolia)

March 5th, 2017 - 05:18 GMT

'Amman Declaration' to boost medical tourism investment in Jordan

In its second phase of recovery, Arabtec said it plans to secure new projects, recycle capital, and ensure on-time and on-budget delivery of projects. (File photo)

March 2nd, 2017 - 01:00 GMT

Arabtec targets 2019 recovery with three-year recapitalization plan

Insurance penetration (the ratio of insurance premiums to GDP) is below 2 per cent in all but two of the six GCC countries. (Shutterstock)

March 2nd, 2017 - 12:00 GMT

Low oil prices a headwind for GCC insurance market: Moody's

Bahrain Clear Company will provide services in the areas of settlement, depository of securities, custodians, and other services. (Bahrain Bourse)

March 2nd, 2017 - 11:00 GMT

Bahrain Bourse to launch auxiliary services company

Lebanese exports have declined due to high production costs in the country. (Shutterstock/ Robert Kneschke)

March 2nd, 2017 - 10:00 GMT

Lebanon's minister sounds warning over 'total collapse' of industrial and trading sectors

Rosneft is going through privatization, but remains partially owned by the Russian government. (Rosneft)

March 2nd, 2017 - 09:00 GMT

Russia's Rosneft calls for Libyan autonomy after striking oil deal

Some MPs made it clear that they will not pass the VAT law which is expected to come into force across the GCC in 2018. (Wikimedia Commons)

March 2nd, 2017 - 08:00 GMT

Is Kuwait standing in the way of its own economic progress?

BofA Merrill Lynch expect the fiscal deficit to narrow this year on higher oil prices, but hover around 2015 levels. (File Photo)

March 2nd, 2017 - 06:00 GMT

Oman deficit will require external financing: BoA Merrill Lynch

Jakarta and Riyadh also inked an agreement that builds on an existing $6 billion deal between state-owned energy firms Aramco and Pertamina to expand an Indonesian oil refinery. (AFP/Achmad Ibrahim)

March 2nd, 2017 - 06:00 GMT

Saudi Arabia to grant Indonesia $1B for economic development

Egypt signed a second $1 billion tranche loan agreement with the director of the World Bank in Cairo in late December part of a $3 billion loan package to support Egypt’s economic reform programme. (AFP/File)

March 2nd, 2017 - 05:00 GMT

World Bank delegation to Egypt to follow up reforms progress