Beleaguered Spirit Airlines reportedly is discussing its options with creditors as Frontier Airlines abandons merger talks.

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines broke down, according to people familiar with the matter. The Florida-based budget airline is in advanced discussions with bondholders to hammer out a bankruptcy plan that would have support from a majority of creditors,

Spirit Airlines Inc. is preparing to file for bankruptcy protection after merger talks with Frontier Group Holdings Inc. broke down, the Wall Street Journal reported.

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines broke down, the Wall Street Journal reported, citing people familiar with the matter. Shares of the company were down 39% at $1.8 after the bell. The stock has fallen nearly 80% this year, while the S&P 500 passenger airlines index jumped 52%.

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines broke down, the Wall Street Journal reported, citing people familiar with the matter. The ultra-low cost carrier is in advanced discussions with bondholders to hammer out a bankruptcy plan that would have support from a majority of creditors,

A low cost carrier is preparing to file for bankruptcy protection - causing the share price to tank by 40 percent in seconds.

The Journal reported that Spirit is looking to bankruptcy after talks with Frontier about reviving a merger broke down.

Spirit Airlines (NYSE:SAVE) inched closer towards bankruptcy after Frontier Group (ULCC) reportedly abandoned a bid for its low-cost rival. According to sources cited by the Wall Street Journal, a bankruptcy filing by Spirit (SAVE) is imminent,