Sun Country Airlines Holdings, an American ultra-low-cost passenger and cargo airline, filed on Monday with the SEC to raise up to $100 million in an initial public offering.
Sun Country Airlines states that it is a new breed of hybrid low-cost air carrier that dynamically deploys shared resources across its synergistic scheduled service, charter, and cargo businesses. The company focuses on serving leisure and "visiting friends and relatives" passengers and charter customers, as well as providing CMI service to Amazon, with flights throughout the US and to destinations in Mexico, Central America, and the Caribbean.
The Minneapolis, MN-based company was founded in 1982 and booked $458 million in revenue for the 12 months ended September 30, 2020. It plans to list on the Nasdaq under the symbol SNCY. Sun Country Airlines Holdings filed confidentially on December 19, 2019. Barclays, Morgan Stanley, Deutsche Bank, Goldman Sachs and Nomura Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
