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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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Outgoing US Vice President Joe Biden addresses the assembly on the second day of the World Economic Forum, on January 18, 2017 in Davos. (AFP/Fabrice Coffrini)
January 18th, 2017 - 01:30 GMT

Davos 2017: From global to local, what do the talks mean for the Middle East?

Egypt's currency devaluation has increased costs for the construction industry, negatively impacting developers’ cash flows.  (AFP/File)
January 18th, 2017 - 12:30 GMT

Egypt's pound devaluation pummels real estate sector

There are at least 10 known hot springs in Saudi Arabia.  (Shutterstock)
January 18th, 2017 - 11:30 GMT

The power within: Saudi Arabia to explore geothermal energy

Property analysts say that beach closures aren't new to Dubai, as new projects are being proposed, constantly changing the emirate's skylines.  (Shutterstock)
January 18th, 2017 - 10:25 GMT

Dubai's beachfront property: Now you see it, now you don't

Thousands of importers have been caught out by the float, facing ballooning dollar debts after they had opened dollar credit-lines with banks.   (AFP/Patrick Baz)
January 18th, 2017 - 09:00 GMT

Egypt to adjust customs dollar exchange rate to help struggling importers

Saudi Aramco CEO Amin Nasser. (AFP/Ozan Kose)
January 18th, 2017 - 08:00 GMT

Rising demand for oil will require $25 trillion investment over next 25 years: Aramco

Lufthansa and Etihad last month signed a flight code-sharing deal after Lufthansa agreed to lease 38 crewed planes from airberlin, which is part-owned by Etihad. (Wikimedia Commons)
January 18th, 2017 - 07:00 GMT

Etihad dismisses reports of Lufthansa merger as 'mere speculation'

The objective of the Hywind pilot farm is to demonstrate cost efficient and low risk solutions for future commercial-scale floating wind farms. (Shutterstock)
January 18th, 2017 - 06:00 GMT

Masdar buys 25 percent in Hywind Scotland to develop world's first floating offshore windfarm

With the two latest deals, Egypt's petroleum sector would have concluded 76 deals for oil and gas exploration with international companies since November 2013. (Shutterstock)
January 18th, 2017 - 05:00 GMT

Egypt signs oil and gas exploration deals worth $30M

Kuwait's private sector will contribute 16.9 percent of the infrastructure spend. (Shutterstock/Mike Dotta)
January 17th, 2017 - 12:18 GMT

Kuwait to spend $15.6B on infrastructure projects in 2017-2018

The growth of the renewable energy sector in Saudi Arabia is an opportunity for job generation. (Shutterstock)
January 17th, 2017 - 11:00 GMT

Saudi Arabia's renewable energy program targets up to $50B investment by 2032

There have been repeated calls to change the controversial law, since neighbouring countries have already modified their rules to allow expats to work more freely.  (Shutterstock)
January 17th, 2017 - 10:00 GMT

Oman's lawmakers back controversial two-year visa ban for expats

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