Rather than accept Frontier’s offer, Spirit said it will stick to its current plan to emerge from Chapter 11 bankruptcy.

Frontier Airlines is attempting for a second time to merge with the now bankrupt Spirit Airlines, which declared bankruptcy late last year as budget airlines struggle.

Spirit filed for Chapter 11 bankruptcy protection in November 2024, six months after a proposed merger with JetBlue collapsed.

Fourth-quarter results from JetBlue Airways (NASDAQ: JBLU) were actually better than Wall Street had feared, but you would never know it from the stock's reaction. Shares of JetBlue traded down 22% for the week as of 1 p.

Spirit, which filed for bankruptcy protection last year, says it has rejected the new Frontier overture but would be open to a higher offer.

Frontier says a merger would be a better path out of bankruptcy for Spirit, as budget carriers struggle with high costs and competition.

Frontier Airlines publicly announced a second offer to merge with Spirit Airlines in a press release after its 2022 offer was also rejected.

Spirit Airlines said on Wednesday that it is rejecting the latest merger offer from Frontier Airlines, and will instead continue with its bankruptcy restructuring plan.

Frontier Airlines is attempting for a second time to merge with the now bankrupt Spirit Airlines, which declared bankruptcy late last year as budget airlines struggle. Frontier Group Holdings Inc., the parent company of Frontier Airlines, said Wednesday that the proposed deal would include newly issued Frontier debt and common stock.

Budget carrier Frontier Airlines announced on Wednesday that it has made another bid for fellow discount carrier Spirit Airlines, which is in bankruptcy, for an undisclosed sum.

Denver-based Frontier Airlines says it’s ready to keep talking after bankrupt Spirit Airlines rejected its offer to merge.