Spirit Airlines files for bankruptcy as financial blows pile up

Spirit Airlines files for bankruptcy as financial blows pile up

Spirit Airlines said Monday that it has filed for bankruptcy protection and will attempt to reboot as it struggles to recover from the pandemic-caused swoon in travel and a failed attempt to sell the airline to JetBlue. Spirit, the biggest U.S. budget airline, has lost more than $2.5 billion since the start of 2020 and […]

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Pakistan Requests $ 1.4 Billion Loan From China Amid Financial Challenges

Pakistan Requests $ 1.4 Billion Loan From China Amid Financial Challenges

Islamabad: In a bid to address its persistent external financing issues, Pakistan has formally requested a supplementary loan of 10 billion yuan (CNY) (approximately USD 1.4 billion) from China. The announcement was made on Saturday, underscoring the fiscal pressures the nation continues to face, the Express Tribune reported. During a meeting with China’s Vice Minister […]

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President Muizzu to take 50% salary cut amid worsening financial crunch in the Maldives

President Muizzu to take 50% salary cut amid worsening financial crunch in the Maldives

Maldives President Mohamed Muizzu. File | Photo Credit: PTI   Maldives President Mohamed Muizzu will take a 50% salary cut as part of his government’s efforts to cut costs, as the country braces itself for a possibly severe financial crunch. President Muizzu announced “special measures” in line with his government’s “economic reform agenda” proposed as […]

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Trump Understands Value of Financial Institutions, Says World Bank Chief

Trump Understands Value of Financial Institutions, Says World Bank Chief

World Bank President on Tuesday said Trump understands the value of international financial institutions. Washington: World Bank President Ajay Banga on Tuesday said former President Donald Trump understands the value of international financial institutions and how their lending can lead to expanded markets for American companies overseas. Asked about potential consequences for the World Bank […]

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