Spirit Airlines (SAVE) shares are surging nearly 20% in premarket trading Wednesday on a report that Frontier Airlines parent Frontier Group Holdings (ULCC) is in the early stages of a renewed bid for its rival discount carrier.

The Wall Street Journal said the two sides have had recent discussions and a deal would form part of Spirit's debt restructuring. Spirit is currently in the midst of discussions with bondholders ahead of a 澳洲幸运5官方开奖结果体彩网:potential bankruptcy filing, the report said, noting that merger talks are in early stages a💎nd may not result in a deal.

Spirit last week 澳洲幸运5官方开奖结果体彩网:extended a deadline for debt refinancing with Visa (V) and Mastercard (MA).

Frontier Tried To Buy Spirit in 2022

Frontier's initial plan to buy Spirit in 2022 fell apart after JetBlue Airways (JBLU) 澳洲幸运5官方开奖结果体彩网:swooped in with an offer deemed superior. The JetBlue deal, which would have created the U.S.'s fifth-largest carrier, 澳洲幸运5官方开奖结果体彩网:was called off in March amid antitrust scrutiny from re🅰gulators, causing Spiritꦜ's stock to crater.

Even after today's premarket surge, Spirit shares have lost 85% of their value this year. Frontier Group shares are little changed but have gained more than 20% in 2024.