Spirit Airlines rejected a $400 million merger proposal from Frontier this week, saying the offer was financially inadequate and came too late. Spirit Airlines declined an opportunity to merge with rival low-cost airline Frontier on Wednesday.

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

Frontier said in a release that it has met with Spirit’s board and executives since it made its proposal this month.

Budget carrier Frontier Airlines announced on Wednesday that it has made another bid for fellow discount carrier Spirit Airlines, which is in bankruptcy, for an undisclosed sum.

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.

Discount carrier says a merger would be a better path out of bankruptcy for Spirit, which has rebuffed the latest proposal.

Denver-based Frontier Airlines says it’s ready to keep talking after bankrupt Spirit Airlines rejected its offer to merge.

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

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

Spirit said almost immediately that it's not interested in the sale, and an attempted merger between the two airlines came to nothing in 2022