Embattled discount airline Spirit Airlines Inc. on Thursday said it would cut staff, scale back flight coverage and sell jets as it seeks a lifeline following its failed merger with JetBlue Airways Corp.

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

Frontier Airlines is revisiting a potential merger with Spirit (SAVE). Read why the acquisition price will likely be much lower than previous offers.