Is there another chapter in US consolidation featuring low cost airlines?

Many US low cost airlines believe that segment of the industry is ripe for consolidation, particularly as a new administration under the US president appears more inclined to approve potential mergers and acquisitions.

But after JetBlue's failed attempt to acquire Spirit Airlines, and Frontier Airlines' numerous overtures to purchase Spirit, the question remains - who will strike first to capitalise on the favourable conditions for consolidation?

Perhaps the bigger query is - who are the obvious candidates for the next round of consolidation in the country?