(WJET/WFXP) — Spirit Airlines is reportedly in advanced talks over a possible bankruptcy filing following a failed merger and continued financial struggles, The Wall Street Journal reported Tuesday evening. Spirit had been exploring a merger with ...

Spirit Airlines shares plunged Wednesday on a report that the budget carrier is getting ready to file for bankruptcy protection after revived merger talks with Frontier Airlines parent Frontier Group Holdings collapsed.

The budget carrier is in advanced discussions with bondholders over a filing that could occur within weeks.

Spirit Airlines is in constructive discussion with its creditors and continues to explore strategic alternatives to improve liquidity, the ultra-low-cost carrier said on Tuesday. The negotiations, with a supermajority of the noteholders,

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, according to a report by the Wall Street Journal. The move comes after merger talks with Frontier Airlines broke down, leading the budget airline to seek other alternatives as it deals with mounting losses and a tumble in the stock market.