Spirit Airlines Tuesday rejected Frontier's most recent merger proposal, opting to proceed with its own standalone recapitalization without a merger instead. Spirit is currently in bankruptcy.

Spirit Airlines again rejected Frontier Airlines’ 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.