Frontier Airlines is courting struggling Spirit Airlines again.
Frontier is back on the scene with another offer to buy the budget airline.
This would allow Spirit to exit bankruptcy proceedings, Frontier says.
However, Spirit quickly rejected the bid for being too low.
Frontier lost out in a bidding war with JetBlue Airways but the JetBlue-Spirit planned merger was blocked due to competition concerns.
Frontier Group Holdings said the bid proposal deal includes newly issued debt and common stock.
Spirit filed for bankruptcy protection late last year and has been slashing costs with underperforming routes scrapped and downsizing its workforce.
It says it has lost more than $2.5 billion since the Covid pandemic.
