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.

For the past eight years, in fact, Spirit Airlines and Frontier Airlines have been the will-they-or-won’t-they couple of the airline industry, having repeated merger discussions

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.