Frontier Airlines has tweaked its severance plan ahead of its big push to exit bankruptcy, outlining a specific circumstance in which employees won't be eligible for extended pay and benefits.

The Denver-based carrier said it won't offer severance to workers who receive "a substantially similar position" at the company if it emerges from bankruptcy with a different ownership structure, according to a letter it sent to staff last week.

Frontier is starting to meet with potential investors and partners as it seeks financing to exit bankruptcy. There are a number of scenarios that can play out. The company could receive loans and other financing to exit bankruptcy on its own. But it also could merge with another airline, or an outside investor could take a controlling position in the company.

It's possible that some employees could lose their jobs with Frontier - as it exists now - and be offered jobs at a company with a different ownership structure. Frontier essentially doesn't want to be on the hook for severance to those workers who are offered new positions.

The carrier, however, stressed that workers shouldn't read too much into the severance change, saying it doesn't signal any imminent plans for a merger or other action.

"This is simply a way to continue to provide protection to our employees as well as limit some of the liability to the company as we look for plan sponsors to emerge from bankruptcy," said Steve Snyder, a spokesman for the company.

The company filed for bankruptcy protection in April. Since then, the carrier has attempted to increase its liquidity and bolster its financial health through aircraft sales, a change in fare structure, a reduction in capacity and other moves.