Spirit Airlines is rebuffing the latest takeover offer from Frontier Group, with the discount airline saying that it prefers focusing on its current reorganization plan. Spirit said that it believes that its restructuring will provide more value to shareholders. Spirit said late Tuesday that it did submit a counterproposal to Frontier earlier this month, but that it was rejected. The airline plans to continue working on completing its restructuring, with a hearing to consider confirming its reorganziation plan set for Thursday.
Denver-based Frontier makes a second bid for Spirit