Rather than accept Frontier’s offer, Spirit said it will stick to its current plan to emerge from Chapter 11 bankruptcy.

Denver-based Frontier Airlines says it’s ready to keep talking after bankrupt Spirit Airlines rejected its offer to merge.

In a presentation to Spirit dated Jan, 28, Frontier said a merger would create the nation's fifth-largest airline and "the first formidable low-cost challenger to the Big Four," referring to competitors American Airlines, United Airlines, Southwest Airlines and Delta Air Lines.