Spirit Airlines has again rejected a third takeover bid from budget rival Frontier, saying that it would focus on its own plan to emerge from bankruptcy and stabilize its finances. The offer this week,

Spirit Airlines rejected Frontier Group's acquisition offer worth about $2.16 billion, marking the latest failed deal in the years since the companies began discussing a merger.

Spirit Airlines provided an update on its restructuring process regarding a new proposal for an alternative restructuring plan submitted by Frontier Group, the parent company of Frontier Airlines.