Spirit Airlines has again rejected a third takeover bid from budget rival Frontier, saying that it would focus on its own plan to emerge from bankruptcy and stabilize its finances. The offer this week,

Spirit Airlines rejected Frontier Group's acquisition offer worth about $2.16 billion, marking the latest failed deal in the years since the companies began discussing a merger.

It was the third time that Spirit SAVEQ has rebuffed a Frontier advance, after an offer in late January that involved Frontier issuing new debt and common stock. That was followed late Tuesday by another offer that would also extend to Spirit shareholders $400 million in debt and a 19% stake in Frontier’s parent.