The shares of Spirit Airlines, Inc. popped in the premarket on Wednesday as traders assessed the latest report regarding the firm's negotiations with Frontier Airlines.
Earlier, sources told The Wall Street Journal that Frontier was in talks with Spirit yet again over a potential merger. Nonetheless, it was noted that as discussions are currently in an early stage, there are no guarantees that a deal would be struck. The two have been playing with the idea since 2016, and have nearly closed an agreement in 2022, when JetBlue Airways Corp. gave another offer, swaying Spirit investors.
The company's stock soared 13.27% at 4:06 am ET, going for $2.40 apiece.
