A Texas-based company called Mooney International says it has formally submitted a bid to acquire Spirit Airlines and related assets, according to an announcement released Sunday.

In a statement, Mooney International said its proposal would combine operations involving Spirit Airlines, Mooney International and SEAir under what it described as a shared focus on affordable and accessible air travel. The company said the proposal aims to preserve the Spirit Airlines brand while pursuing long-term growth and operational improvements.

“Our objective is not only to preserve the Spirit Airlines legacy, but to create a new chapter focused on operational excellence, enhanced customer experience, expanded route connectivity, sustainable aviation initiatives, and long-term growth,” the company said in its announcement.

If the acquisition is approved, Mooney International said it would seek to maintain the Spirit Airlines brand, expand affordable travel options, invest in fleet and technology improvements, and create stronger connections between Spirit Airlines, Mooney International and SEAir. The company also said its plans include supporting aviation jobs, tourism and economic development while advancing sustainable aviation fuel initiatives.

Spirit Airlines, headquartered in South Florida, is one of the nation’s largest ultra-low-cost carriers and serves dozens of destinations across the United States, Latin America and the Caribbean.

The announcement did not disclose financial terms of the proposed acquisition or provide a timeline for any potential transaction. It is also unclear whether other bidders are involved or what regulatory approvals may be required before any deal could move forward.

The proposed acquisition comes as the airline industry continues to face evolving market conditions, competition among low-cost carriers and growing demand for affordable travel options.

Authorities are searching for a person who may have gone into the water from a charter vessel on Biscayne Bay, U.S. Coast Guard officials said.

Officials said they were notified at around 11:59 p.m. Friday of a missing person suspected to be in the water who was last seen on the vessel as it was south of Brickell Key and Hobie Island Beach Park.

Coast Guard crews responded to search the area along with Miami Marine Patrol, Miami Fire Rescue, Miami-Dade Fire Rescue and Miami Fire Air Rescue.

On Saturday, Miami Police released a missing persons flyer for a man who went out on a charter boat and who could be the same missing person.

The man, 23-year-old Akin Liverpool, was reported missing from the Brickell area and his whereabouts were unknown, police said.

Anyone with information on his whereabouts is asked to call police at 305-603-6300.