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Sun Country will raise over USD200 million in IPO
Minneapolis based LCC Sun Country Airlines will raise about $218 million when it debuts as a public company today.
It priced its initial public offering at $24 a share, and will be traded on the Nasdaq under the ticket ‘SNCY.’ Sun Country sold itself to investors as ‘a new breed of hybrid low-cost air carrier.’ "We believe our flexible business model generates higher returns and margins while also providing greater resiliency to economic and industry downturns."
The airline was bought by Apollo Global Management in 2018. The airline began as a charter company mostly serving leisure routes but also secured military contracts, transporting troops out to the Gulf in the early 1990s.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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