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

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.

Frontier Group Holdings Inc (ULCC) and Spirit Airlines Inc (SAVEQ) drew retail attention on Thursday after the latter rejected Frontier's new merger offer. Frontier’s proposal involved combining with Spirit in a transaction that provides for the issuance of $400 million principal amount of debt by the firm and 19% of its common equity at the