Spirit Airlines rejected Frontier Airlines' second attempt to merge the two companies on Wednesday and will continue with its plans to exit bankruptcy. Frontier made an offer in early January for Spirit stakeholders to acquire $400 million in new debt and obtain 19% of Frontier's stock.

Frontier Airlines is making another offer to merge with bankrupt Spirit Airlines, less than two years after a previous plan fell through.

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 Airlines said Wednesday it has again proposed combining with Spirit Airlines, which is in 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.

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

Frontier is making an offer to acquire the beleaguered Spirit Airlines, which filed for bankruptcy in November.

The parent of Frontier Airlines made a new offer to combine with bankrupt Spirit Airlines Inc., renewing its pursuit of the struggling budget carrier after talks fell apart last year.

Frontier and Spirit Airlines will once again try to merge, only months after the Biden administration won a key antitrust court battle to block