Frontier Airlines (ULCC) is exploring a renewed bid for Spirit Airlines (SAVE) as Spirit continues discussions with bondholders over the terms of a potential bankruptcy filing, Alison Sider and Alexander Gladstone of Wall Street Journal report, citing people familiar with the matter. The airlines have had recent discussions about a possible merger, though the talks are at an early stage, sources told the Journal. If a deal is reached, it would likely happen as part of Spirit restructuring its debt and other liabilities in bankruptcy, the people said. Shares of Spirit are up 30% to $2.75 in premarket trading while Frontier is up 5% to $7.05.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

See today’s best-performing stocks on TipRanks >>

Read More on ULCC:

Leave a Reply

Your email address will not be published. Required fields are marked *