Spirit Airlines on Thursday rejected Frontier Airlines' latest proposal for a merger, which would have helped bring the Florida-based carrier out of bankruptcy to join forces with its top competitor.

Spirit Airlines again rejected Frontier Airlines’s latest takeover bid, opting to instead focus on its restructuring process to bolster financial stability.  Spirit, an ultra-low-cost airline,

Spirit Airlines rejected Frontier Group's acquisition offer worth about $2.16 billion, marking the latest failed deal in the years since the companies began discussing a merger.