Spirit Airlines says it won’t announce its quarterly financial results on time because the company is focused on talks with bond holders to restructure its debt

The Wall Street Journal, citing anonymous sources, reported late Tuesday that the airline was discussing terms of a possible bankruptcy filing.

Spirit Airlines is preparing to file for bankruptcy protection after merger talks with Frontier Airlines broke down, the Wall Street Journal reported, citing people familiar with the matter. The ultra-low cost carrier is in advanced discussions with bondholders to hammer out a bankruptcy plan that would have support from a majority of creditors,