Sun Country Airlines Holdings (SNCY) Investor Presentation - Slideshow

Financial Performance & Growth - Sun Country's revenue has grown significantly since 2017, from $559 million to $1071 million(consensus) in 2023[36] - Adjusted EBIT margin outperformed industry peers during COVID-19 and through the recovery, with a 2023 Q1 margin of 20%[39, 44] - Adjusted EBITDA increased from $121.2 million in FY 2019 to $125.6 million in FY 2022[8] Business Model & Revenue Streams - Passenger leisure accounts for approximately 72% of revenue, charter for 18%, and cargo for 10%[30] - Ancillary revenue per passenger has grown from $21.70 in 2018 to $58.75 in LTM Q1 2023, with potential for further growth[18] - The company has a unique, diversified business model with synergies between passenger, charter, and cargo operations[30] Fleet & Capacity Management - The airline operates a standard fleet of Boeing 737s, including 42 passenger aircraft and 12 freighters[30] - The company strategically adjusts capacity based on seasonal demand patterns to maximize unit revenue (TRASM)[50] - Sun Country is acquiring 5 Boeing 737-900ERs, expected to generate approximately $3 million in operating income per quarter starting Q2 2023[82] Charter Business - The charter business has growth opportunities, aiming to return to 2019 revenue levels, representing a $68 million opportunity from 2022 revenue of $40 million to 2019 revenue of $108 million[64] - The company has secured long-term charter contracts with Major League Soccer and Caesars Entertainment[66] Cargo Business - The cargo business, in partnership with Amazon, operates 12 Boeing 737-800 freighters[69] - The cargo business boasts high margins and cash flow, with Amazon covering 100% of fuel costs[69, 73]