Spirit Airlines (NYSE:SAVE) disclosed plans to sell 23 Airbus planes, scale back flight capacity and cut jobs to boost liquidity. The news sent its shares soaring 9.5% aftermarket on Thursday. The airline plans to sell 23 A320ceo/A321ceo planes to aviation aftermarket services provider GA Telesis for about $519M.

Spirit Airlines Inc. agreed to sell 23 Airbus SE aircraft for $519 million, giving the budget carrier a much-needed cash boost as it nears a possible bankruptcy filing.

The company finds itself on the brink of bankruptcy after a failed merger with JetBlue and posting losses in 11 straight quarters.

Spirit Airlines is reported to have conducted merger talks with a familiar suitor — Frontier Airlines of Denver. Discussions about a deal, which could come through a bankruptcy proceeding, are in

Spirit Airlines Inc. is in talks with Frontier Group Holdings Inc. about filing for bankruptcy to facilitate a takeover by the rival discount carrier, according to people with knowledge of the matter.

KEY TAKEAWAYS Spirit Airlines shares are surging in premarket trading Wednesday on a report that Frontier Airlines parent Frontier Group Holdings is in the early stages of a renewed bid for its rival discount carrier.

After a failed attempt at merging with JetBlue (JBLU), ultra-low-cost carrier Spirit Airlines (SAVE) is reportedly turning back to a familiar frenemy.