Shares of curiously named Sun Country Airlines (SNCY 11.04%) -- which is actually based in Minnesota -- popped in morning trading Thursday. The low-cost passenger and cargo airline surged 12.2% through 11:30 a.m. ET after announcing an expanded relationship with Amazon. A new dawn for Sun Country stock? It almost goes without saying (though Sun Country said it anyway) that "Amazon is an extremely important customer to Sun Country," helping to smooth out the company's earnings in non-peak travel seasons. Sun ...

MINNEAPOLIS, June 20, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines (NASDAQ: SNCY) today signed an Amended and Restated Air Transport Services Agreement with Amazon, extending the contract through 2030 with options to further extend the terms through 2037. Under the amended agreement, Sun Country will operate up to eight additional Boeing 737-800 cargo aircraft beginning in early 2025. The amended agreement will increase Sun Country's cargo operation from 12 to up to 20 freighters with the first additional ...

The company is seeing competitive pressure build. Airline stocks have been all over the place over the last few years. The industry was hit hard by the pandemic but has enjoyed a surge in demand in the years since as vacationers have tried to make up for time lost during quarantine. The question for investors is how long the good times will last for what is a cyclical industry. With interest rates on the rise and concern growing about consumer belt-tightening, it is possible demand for travel could fall in ...

MINNEAPOLIS, May 22, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines (NASDAQ:SNCY) today launched a new mobile app to enhance the travel experience for Sun Country customers. Travelers can now book travel, check-in for flights, use their mobile boarding pass, and manage their trips within the app. The app is now available in the Apple store and Google Play store. "The new mobile app is part of a multi-year investment in enhancing our digital experience for our customers," said Colton Snow, chief marketing off ...

MINNEAPOLIS, May 22, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines (NASDAQ: SNCY) today launched a new mobile app to enhance the travel experience for Sun Country customers. Travelers can now book travel, check-in for flights, use their mobile boarding pass, and manage their trips within the app. The app is now available in the Apple store and Google Play store. "The new mobile app is part of a multi-year investment in enhancing our digital experience for our customers," said Colton Snow, chief marketing of ...

Sun Country Airlines operates 122 routes serving 108 airports across the United States, Mexico, Central America, Canada, and the Caribbean, providing safe, reliable, hassle-free flights at affordable prices. Sun Country's onboard experience includes state-of-the-art seating equipment, comfortable recline and in-seat power in most seats. Sun Country also provides free in-flight entertainment on our guests' devices and complimentary non-alcoholic beverages. We are proud to partner with many Minnesota and Midw ...

MINNEAPOLIS, May 21, 2024 (GLOBE NEWSWIRE) -- Sun Country Airlines (NASDAQ: SNCY) today extended its selling schedule through April 29, 2025, for travelers to book December holidays, winter vacations, and spring break travel – including more days of the week during the season to our most popular destinations. Sun Country Airlines is a new breed of hybrid low-cost air carrier, whose mission is to connect guests to their favorite people and places, to create lifelong memories and transformative experiences. S ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-40217 Sun Country Airlines Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 82-4092570 (State or other jurisdiction of incorp ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2024 grew by 5.9% year-over-year to $311.5 million, marking the highest quarterly revenue on record [22] - Adjusted operating margin was reported at just over 18%, at the lower end of expectations due to weaker close-in bookings in March [19][21] - Total operating expenses increased by 7.5% on a 9.6% increase in total block hours, while CASM declined by 5.4% year-over-year [23] Business Line Data and Key Metrics Changes - Charter revenue grew by 2.4% to $47.3 million, with charter revenue per block hour increasing by 5.6% [6] - Cargo revenue increased by 2.5% to $23.9 million, despite a 1.1% decrease in block hours [6] - Scheduled service revenue plus ancillary revenue grew by 2.8% to $227.4 million, also the highest on record [22] Market Data and Key Metrics Changes - Domestic capacity was up 6% and overlay capacity increased by about 10% in Q1 2024 [39] - Scheduled service TRASM decreased by 11.7% to $12.2, while total fare declined by 11.3% to $196.41 [22] Company Strategy and Development Direction - The company aims to allocate capacity flexibly between scheduled service, charter, and cargo segments to maximize profitability [24][25] - The focus is on maintaining operational excellence and responding to market conditions, particularly in off-peak periods [3][4] Management's Comments on Operating Environment and Future Outlook - Management noted that the fare environment has reset from post-pandemic highs, impacting yields [19] - The company expects second quarter total revenue to be between $255 million and $265 million, with an operating margin between 4% and 7% [24] Other Important Information - Total liquidity at the end of Q1 was $179 million, with a net debt to adjusted EBITDA ratio of 2.5 times [7] - Maintenance expenses grew by 29% year-over-year due to increased overhaul events [23] Q&A Session Summary Question: Can you elaborate on the reallocation of capacity in oversupplied markets? - Management indicated that capacity is committed for Q2, with opportunities to reallocate in the second half of the year, particularly in off-peak periods [8] Question: What is the outlook for new wins in the cargo segment? - Management expressed optimism about opportunities in the cargo business and plans to allocate resources based on profitability [11] Question: How do you view the decline in air traffic liability? - Management explained that the decline is typical for Q1 and attributed it to weaker fare environment and the Easter shift [34][36] Question: What is the competitive landscape in Minneapolis? - Management noted that Delta is expanding capacity in Minneapolis, impacting fare pressures, but long-term opportunities remain unchanged [41][72] Question: How do you expect margins to trend from Q2 to Q3? - Management expects Q3 margins to be higher than Q2 due to typical seasonal performance [62]

For the quarter ended March 31, 2024, Sun Country reported net income of $35 million and income before income tax of $47 million, on $311 million of revenue. Adjusted income before income tax for the quarter was $48 million. GAAP operating income during the quarter was $55 million, while adjusted operating income was $57 million, operating margin was 17.7% and adjusted operating margin was 18.2% (2) (2) (2) . "We had another good first quarter which is historically our strongest," said Dave Davis, President ...