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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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Some importers are not happy with the deal, saying the rate of the dollar that they will have to pay their credit lines with is still too high for them to afford. (File photo)
February 22nd, 2017 - 07:00 GMT

Egypt's Central Bank settles with investors over pre-flotation credit lines

Before the outbreak of civil war, Libya was producing about 1 million bpd.  (AFP/File)
February 22nd, 2017 - 06:10 GMT

New deal with Russia's Rosneft brings hope for recovery of Libya's oil sector

Round 1 RFQ documents can be viewed, downloaded, and responded to via the government eProcurement portal. (Shutterstock)
February 22nd, 2017 - 05:16 GMT

Saudi Arabia opens pre-qualification bids for national renewable energy program

The delegation signed a twinning agreement between the city of Sharm El-Sheikh and an Italian city for the sake of turning Sharm El-Sheikh into the first digital economy city in the Middle East. (Shutterstock)
February 21st, 2017 - 12:30 GMT

Italian delegation tours Egypt, mulls establishment of Italian university branches

The largest of the 11 agreements is with Oman Investment Fund (OIF) for 73,367sq m of land in Jebel Akhdar, to build a resort. (Wikimedia Commons)
February 21st, 2017 - 11:30 GMT

Oman inks 11 agreements for new tourism development projects

The first two days of IDEX have led to an increasing number of deals with national and international companies alike. (Armyrecognition.com)
February 21st, 2017 - 10:30 GMT

IDEX 2017: Over $3B in arms deals made in first two days

Although the additional levies are already being charged on air freight and shipments, these are yet to be introduced on imports made via road. (Shutterstock)
February 21st, 2017 - 09:30 GMT

Oman: Higher customs levies to raise cost of imported goods

Saudi Arabia was the world's second-largest arms importer in the period 2012 to 2016, with an increase of 212 percent compared with 2007-2011. (File photo)
February 21st, 2017 - 08:30 GMT

Arms imports rise by 245 percent to Qatar, 212 percent to Saudi Arabia: SIPRI

The new merger, if agreed, would create an entity with total assets amounting to around QAR173bn ($48bn) and a market share of around 14 percent. (File photo)
February 21st, 2017 - 07:30 GMT

Proposed merger of Qatari bank trio would create country's second largest lender

Jordan’s recent economic measures also increased fees for five-year passports for citizens from JD20 to JD50. (Pinterest)
February 21st, 2017 - 06:38 GMT

Jordan hikes temporary passport fees for Gazans eightfold

Rosneft is Russia's largest oil producer. For the fourth quarter, the company said its net production was up 11.8 percent year-on-year for a new record high. (Shutterstock)
February 21st, 2017 - 05:24 GMT

Russia's Rosneft begins new drilling operations in Iraq

Many candidates in the country’s November elections ran on an anti-austerity ticket after the previous parliament was dissolved due to disputes with the government over the fuel price increase. (Shutterstock)
February 20th, 2017 - 01:00 GMT

Kuwait's lawmakers move to overturn fuel and utility price increases

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