Spirit Airlines disclosed it is in talks with its creditors for a restructuring deal, hours after it was reported that the company’s merger talks with rival low-cost carrier Frontier had fallen through.

Spirit Airlines stock tumbled in premarket trading Wednesday following a report that said the ultra-low-cost carrier was preparing to file for bankruptcy protection.The filing could come within weeks,

Spirit Airlines Inc. is closing in on a deal with creditors that would restructure its crushing debt load in bankruptcy court after discussions for a tie-up with rival Frontier Group Holdings Inc. fell apart.