Americana Eyes Adding Five Guys Operator to Gulf Franchise Empire

Americana Restaurants International Plc is exploring a deal to buy the Middle Eastern operator of brands including Five Guys and Cinnabon, according to people familiar with the matter, in a move that would further expand its network of international food franchises.
The firm is in talks to acquire Cravia Inc. from its private equity owner, Fajr Capital, the people said, asking not to be identified discussing confidential matters. Talks are at an early stage, and there is no certainty a deal will be reached, they added.

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Fox News

20 minutes ago

• Fox News

Business Rundown: Muted Markets Await Iranian Response

After the United States struck three Iranian nuclear sites over the weekend, many expected volatility in the markets. But, as of 10 AM ET Monday morning, the major stock indexes and oil prices appear to not be shifting dramatically–suggesting that investors may not react until Tehran does. FOX Business co-anchor Taylor Riggs speaks with AIER economist Paul Mueller to break down how the unfolding situation in the Middle East stands to impact the U.S. markets and prices. Photo Credit: White House Learn more about your ad choices. Visit

Skift

36 minutes ago

• Skift

Why Just 30 Minutes Can Strain the System: Middle East Airspace Crisis Hits Gulf Hubs

Rising tensions in the Middle East are forcing airlines to reroute flights in a major stress-test for the Gulf's ultra-efficient aviation hubs. Many international airports across the region rely on slick transit connections that often hinge on minutes, not hours. For example, the minimum connection time in Doha – home to Qatar Airways – is just 45 minutes between flights. Earlier this year, Etihad Airways cut its transit threshold for non-U.S. departures from 60 minutes to just 45 minutes in Abu Dhabi. Connections at Dubai International Airport – one of the world's busiest – can be as little as an hour. As airlines reroute aircraft to avoid conflict zones, what may seem like minor detours can have outsized effects on tightly calibrated operations. A Proactive Approach Until the recent spike in violence, many local carriers relied upon Iraqi and Iranian airspace for services to Europe and North America. With no immediate let-up in the regional conflict, some airlines are taking a proactive approach. On Sunday, Qatar Airways issued a travel alert advising passengers of schedule changes. The carrier said it is rescheduling "a number of flights" over the coming weeks, 'to preserve the integrity, reliability, and resilience of the airline's global network.' As part of the changes, some departure times are being brought forward, meaning flights will leave earlier than originally scheduled. That's especially problematic for travelers whose connections were already tight. Qatar Airways said the alterations are being made to 'ensure connectivity and minimize disruption.' Hub-and-spoke airline networks in the Gulf depend on both precision and scale. The big players – Emirates, Etihad, and Qatar Airways – collectively offer hundreds of inbound and outbound flights each day that are concentrated in carefully coordinated 'banks.' These enable passengers from Asia, Africa, Europe, and the Americas to connect efficiently through a central hub with minimal fuss. However, this model only works if everything runs on time. Operational Domino Effects Even a 20-30 minute increase in average flight time – typical of current reroutings – can have a significant operational impact. For passengers, this can mean missed connections, longer transit times, and added stress – all of which erode the competitive advantage Gulf carriers have long held in offering fast, efficient, and relatively hassle-free connections. Skift analysis of data from Flightradar24 hints at the challenge. The average flight time for a Qatar Airways flight from London Heathrow to Doha using Iraqi airspace had a flight time of 6 hours and 4 minutes. However, the revised route tracking south over Saudi Arabia and over the Mediterranean has an average flight time of around 6 hours and 40 minutes. Following US attacks on Iranian nuclear facilities, commercial traffic in the region is operating as it has since new airspace restrictions were put into place last week. Image from 01:45 UTC 22 June. — Flightradar24 (@flightradar24) June 22, 2025 For its part, Etihad Airways has retimed flights to regional cities including Amman in Jordan and Beirut in Lebanon. It has also canceled service to Tel Aviv until July 15. A travel advisory on its website warns: 'This remains a highly dynamic situation, and further changes or disruption, including sudden airspace closures or operational impact, may occur at short notice.' Citing the regional situation, Emirates has temporarily suspended all flights to Tehran, as well as the Iraqi cities of Baghdad and Basra, until June 30. The airline says it is operating as scheduled to all other destinations. Speaking to Skift, John Strickland, an aviation consultant with significant industry experience in network planning and revenue management, outlined the problem: 'The longer routings create – at a minimum – longer flight times and therefore delays. They also increase flight burn and push up operating costs. "At their worst, they consume extra aircraft and crew time, latterly with possible impact on regulated duty hours and could ultimately lead to knock-on effects of some flights being canceled," said Strickland. Not Just the Middle Eastern Giants The conflict is having an impact on airlines based outside of the region. For example, British Airways canceled its scheduled flights to Dubai and Doha on Sunday and Monday. A British Airways spokesperson told Skift that subsequent flights to Dubai and Doha are scheduled to operate as normal, however, the situation remains under review. Matthew Borie, chief intelligence officer at aviation risk intelligence company Osprey Flight Solutions highlighted the considerations: 'Airlines are likely canceling flights to airports in the UAE and Qatar as well as to a lesser extent Kuwait, Bahrain and Saudi Arabia due to concerns about drone, cruise missile and/or ballistic missile attacks by Iran and/or its proxies – the Yemeni Houthis and Iraqi Iranian-backed militant groups – targeting U.S. military bases in these countries.' While most international airports handle a mix of origin, destination, and transit traffic, Gulf hubs are overwhelmingly reliant on the latter – a model especially vulnerable to disruption. Last year, Hamad International Airport in Doha handled 52.7 million passengers – of which just 12 million were starting or ending their journey in Qatar. With almost 80% of customers making a connection, and thousands of different route combinations, it doesn't take much for the system to come under pressure. Even in Abu Dhabi and Dubai – destinations with greater point-to-point traffic – around half of all passengers are in transit. The region's airports and airlines are familiar with rapidly changing operating environments. Nonetheless, this latest disruption underscores the structural vulnerability of hub-and-spoke systems that rely on geopolitical stability for geographic advantage. The Gulf's central position between continents is one of its greatest assets – and, in times of regional volatility, a potential liability. What am I looking at? The performance of airline sector stocks within the ST200. The index includes companies publicly traded across global markets including network carriers, low-cost carriers, and other related companies. The Skift Travel 200 (ST200) combines the financial performance of nearly 200 travel companies worth more than a trillion dollars into a single number. See more airlines sector financial performance. Read the full methodology behind the Skift Travel 200.

Bloomberg

an hour ago

• Bloomberg

Tanker Rates Soar to Highest Since 2023 After US Bombs Iran

Tanker rates extended gains as tensions in the Middle East ratchet higher, with shipowners demanding bigger fees to call at ports in the Persian Gulf after the US launched strikes on Iran over the weekend. The benchmark rate for a supertanker carrying 2 million barrels of crude from the Middle East to China climbed 12%, reaching the equivalent of about $76,000 a day, the highest since March 2023, according to data from the Baltic Exchange in London.