^ 2020: Activities in fiscal 2020 were severely reduced by the impact of the coronavirus pandemic.^ 2018: Because of the restructuring of the business, financials for 2018 were reported as 'Predecessor' activity (January 1 through April 10) and 'Successor' activity (April 11 through December 31).(which include the passenger operations of Sun Country Airlines and its cargo business for Amazon Air) are (years ending December 31): Recent key figures for Sun Country Airlines Holdings, Inc. On March 17, 2021, Sun Country became publicly listed and traded on the NASDAQ under the ticker SNCY. The airline operated their first cargo flight for Amazon in May 2020. Sun Country will initially operate ten cargo jets for Amazon Air. In December 2019 Sun Country announced they would begin operating cargo flights for Amazon. As Sun Country's passenger model is heavily leisure focused, this deal is designed to help stabilize revenues during non-peak seasons. On December 17, 2019, Amazon Air bought a minority stake in Sun Country from Apollo, with plans for the airline to operate cargo flights under the Amazon Air brand. On December 14, 2017, the Davis brothers announced they would be selling the airline to funds affiliated with New York Based Apollo Global Management for an undisclosed amount. Apollo Global Management ownership (2017–present) As part of its strategy, Sun Country had begun to move towards being a "no frills" airline. Jude Bricker, previously of Allegiant Air, was appointed as CEO one week after Erani stepped down. In July 2017, after more than a year of missed monthly earnings projections, Davis replaced Erani as interim President and CEO, with Erani moving to other duties within the Davis family of companies. The airline had a net income of $27 million in 2015, followed by a 41% drop to $16 million in 2016. In 2015, the Sun Country board hired Zarir Erani as president and CEO. Marty Davis, CEO of Cambria, became chairman. In July 2011, Sun Country was bought out of bankruptcy for $34 million by the Davis family, owners of Cambria, a Minnesota-based countertop company. Rebuilding and Davis brothers ownership (2011–2017) Following this, the airline filed for Chapter 11 bankruptcy protection for the second time, on October 6, 2008. Tom Petters resigned after an FBI probe discovered that the airline had suffered financial fraud on a massive scale. At the end of September 2008, Gadek called for a 50% pay-deferral to all remaining employees. It also began charging for the first checked bag. In September 2008 the carrier reduced, and in some cases eliminated, flights to San Francisco and Los Angeles. Sun Country indicated it had hoped to get up to $50 million in loans or other financial help from the state of Minnesota and the airports commission. The airline furloughed 45 of its 156 pilots and scaled back its summer schedule due to rising fuel costs. įollowing the replacement of interim CEO Jay Salmen by Stan Gadek, former CFO of AirTran Airways, Sun Country was nearly finished by the major recession of 2008 and the revelation of financial fraud. In July 2006, the airline was acquired by Petters Group Worldwide and Whitebox Advisors. In 2001, the company suspended operations due to financial troubles. In 1988, its headquarters were located on the grounds of the Minneapolis–Saint Paul International Airport. His wife, Joan Smith-Olsen, acted as Chief Flight Attendant and Head of Inflight Operations. The company's founder and first President/CEO was Captain Jim Olsen, who also acted as Chief Pilot. A number of the original employees had previously worked for Braniff International Airways, which ceased operations on May 12, 1982. The airline's original staff consisted of sixteen pilots, sixteen flight attendants, three mechanics and one office person. Sun Country began flight operations in January 1983 with a single Boeing 727-200 jetliner. History One version of Sun Country's early logo A Sun Country McDonnell Douglas DC-10-10 at Las Vegas International Airport in 1992 wearing the original livery Early years and bankruptcies (1983–2008) On the cargo side, Sun Country is a contract cargo operator for Amazon Air. The airline has focus city operations at Dallas/Fort Worth International Airport and Harry Reid International Airport. Based at Minneapolis–Saint Paul International Airport with headquarters on airport property, Sun Country operates more than 120 passenger routes between 94 destinations in the United States, Canada, Mexico, Central America and the Caribbean. Sun Country Airlines is an American ultra-low-cost passenger and cargo airline, and the eleventh largest in the US by passengers carried.
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