Spirit Airlines’ recent bankruptcy filing has reignited discussions about its failed merger attempts and whether choosing JetBlue as a merger partner over Frontier Airlines was a major misstep. On Nov. 18, Spirit filed for Chapter 11 bankruptcy protection, citing mounting debt and operational challenges, Reuters reported. This development comes after years of turbulence, including blocked merger deals and weakening financial stability, NBC News reported.

In 2022, Spirit initially entertained a merger with Frontier Airlines. This deal, valued at $2.9 billion, promised operational synergies between two ultra-low-cost carriers with similar models, Travel & Leisure reported. However, JetBlue entered the conversation with a higher bid of $3.8 billion, which swayed shareholders although Spirit’s management was hesitant. The decision to pursue JetBlue came with significant risks since the two carriers have two very different business models.

JetBlue’s bid faced immediate opposition from the Department of Justice, which blocked the merger in January 2024, citing antitrust concerns. The court ruled that combining the airlines would harm consumers by eliminating Spirit’s low-cost model, which pressured competitors to keep fares affordable. The collapse of the JetBlue deal left Spirit with its financial vulnerabilities fully exposed. Meanwhile, Frontier walked away, leaving Spirit without a safety net.

By contrast, a merger with Frontier might have been the lifeline Spirit needed. As two ultra-low-cost carriers, Spirit and Frontier shared complementary operations, fleets, and customer bases. Industry experts believed their combined network could have achieved cost savings without stirring up regulatory backlash. At the time of Frontier’s initial bid, Spirit’s financial position was stronger, and the merger might have allowed both airlines to compete more effectively against larger carriers, Aviation A2Z reported.

Instead, the fallout from the JetBlue deal pushed Spirit further into financial distress. Spirit’s debt is passing $3 billion, forcing the airline to sell planes, cut routes, and furlough staff.

While JetBlue’s bid dazzled with its higher price, it ultimately proved unsustainable. Frontier’s lower-risk offer may have been the best choice to keep Spirit in the air.