Spirit Airlines rejects Frontier's ‘insufficient' bid — and expects to exit bankruptcy this quarter
1. Spirit and Frontier are discussing a merger again. 2. Spirit rejects Frontier's initial acquisition proposal but is open to revisions. 3. Spirit filed for bankruptcy last year and is restructuring. 4. A merger could create the fifth largest U.S. airline. 5. Analysts suggest the merger would improve competitiveness against major airlines.