Sun Country Airlines has built a reputation as an affordable option for leisure travelers across the United States. Founded in 1982, the airline grew from a small charter operation into one of the country’s recognized ultra-low-cost carriers, serving vacation destinations across North America and the Caribbean.
Headquartered in Minneapolis, Minnesota, Sun Country operates a fleet of Boeing 737 aircraft. The airline flies to around 140 destinations in the United States, Canada, Mexico, Central America, and the Caribbean. It also runs a significant cargo operation under contract with Amazon Air. Sun Country’s business model centers on point-to-point travel, which lets it serve markets that larger hub-and-spoke carriers often overlook. That approach has helped it maintain a loyal customer base even as competition has intensified.
Key Takeaways
- Sun Country Airlines is an ultra-low-cost U.S. airline based in Minneapolis, Minnesota, focused on leisure and vacation travel.
- The airline was founded in 1982 by former Braniff International Airways employees and began charter flights in January 1983.
- Apollo Global Management acquired Sun Country in 2018 for approximately $188 million and helped transform it into a modern low-cost carrier.
- Sun Country went public on the NASDAQ (ticker: SNCY) in March 2021. Apollo sold its remaining shares in early 2025.
- In January 2026, Allegiant Travel Company announced it would acquire Sun Country in a cash-and-stock deal valuing the airline at approximately $1.5 billion. The deal is expected to close in the second half of 2026.
History of Sun Country Airlines
Sun Country Airlines was founded in 1982 by a group of former Braniff International Airways pilots and flight attendants. After Braniff shut down in May 1982, pilot Ken Sundmark teamed up with Bob Daniels of Mainline Travel Inc. to launch a charter airline that could serve the leisure market from Minneapolis. The airline was incorporated in July 1982, and its first revenue flight took off on January 20, 1983, flying from Sioux Falls to Las Vegas using a single Boeing 727-200.
The early years focused on affordable charter flights to warm-weather destinations. Sun Country quickly found a steady customer base among budget-conscious vacationers. By the late 1980s and into the 1990s, the airline expanded and eventually added scheduled service on June 1, 1999, opening it up to a broader market.
A group of investors purchased the airline, and flights resumed in early 2002. The airline changed hands several more times over the following years. Petters Group Worldwide and Whitebox Advisors acquired it in 2006, and in 2011, the Davis family bought Sun Country out of bankruptcy for $34 million. Through each transition, the airline held on to its core identity as a budget-friendly leisure carrier. By the mid-2000s, it had re-established itself as a reliable option for affordable flights to vacation spots.
Apollo Global Management: A Brief Overview
Apollo Global Management is a major global alternative investment firm with holdings across private equity, credit, and real estate. Leon Black, Joshua Harris, and Marc Rowan founded the firm in 1990. It has since grown into one of the largest investment firms in the world, managing assets worth hundreds of billions of dollars.
Apollo’s investment strategy focuses on finding undervalued assets and making operational improvements to boost their value. The firm typically takes a hands-on role in the companies it acquires, working directly with management teams to drive growth and cut costs. That track record across industries like travel and hospitality made Apollo a natural fit for airline investment.
Acquisition of Sun Country Airlines by Apollo Global Management
| Metrics | Data |
|---|---|
| Acquisition Deal Value | Approximately $188 million |
| Acquisition Year | 2018 |
| Acquiring Company | Apollo Global Management |
| Acquired Company | Sun Country Airlines |
| IPO | March 2021 on NASDAQ (SNCY) |
| Apollo Exit | February 2025 (sold remaining shares) |
In 2018, Apollo Global Management acquired Sun Country Airlines in a deal valued at approximately $188 million. The new CEO, Jude Bricker (formerly of Allegiant Air), had already been leading the airline since 2017 and worked with Apollo to reshape Sun Country into a modern ultra-low-cost carrier.
The deal gave Apollo a controlling interest in the airline. After the acquisition, Apollo’s team and Sun Country’s leadership rolled out strategic changes focused on improving operations and expanding the route network. The partnership gave Sun Country access to Apollo’s financial resources and industry expertise while keeping its focus on affordable travel.
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Sun Country’s IPO and Apollo’s Exit
On March 17, 2021, Sun Country went public on the NASDAQ under the ticker symbol SNCY. The IPO priced at $24 per share, raising approximately $218 million. Shares jumped over 50% on their first day of trading, signaling strong investor confidence in the airline’s business model.
After the IPO, Apollo gradually reduced its stake through a series of secondary offerings. By February 2025, Apollo had sold its remaining shares, fully exiting its investment in Sun Country. The firm’s roughly seven-year ownership period saw Sun Country transform from a regional charter-focused carrier into a publicly traded ultra-low-cost airline with a diversified business that included passenger service and cargo operations for Amazon Air.
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Changes and Developments at Sun Country Airlines under Apollo Global Management
During Apollo’s ownership, Sun Country went through a major overhaul. One of the biggest changes was the expansion of the route network. Apollo and the management team identified underserved markets and added new destinations that matched where travelers actually wanted to go.
Apollo also invested in upgrading Sun Country’s fleet and technology. Aircraft interiors were modernized for better passenger comfort, and new booking systems helped streamline day-to-day operations. In 2019, Sun Country signed a deal to operate cargo flights for Amazon Air, adding a new revenue stream that proved especially valuable during the COVID-19 pandemic. By mid-2024, the cargo fleet had grown to 12 aircraft operating under the Amazon Air contract.
Impact of Apollo Global Management Ownership on Sun Country Airlines’ Operations
Apollo’s ownership had a major effect on how Sun Country operated day to day.
Those efficiency gains let Sun Country keep prices competitive while improving the quality of its service. Apollo also brought stricter financial oversight and performance tracking. The airline started using data-driven methods to evaluate route profitability and plan capacity. That analytical approach helped Sun Country react faster to shifts in demand and make smarter decisions about where to fly and how often.
Financial Performance of Sun Country Airlines under Apollo Global Management
Apollo’s capital infusion allowed Sun Country to modernize its fleet and grow its route network without piling on excessive debt. Revenue climbed as passenger numbers and load factors improved. The airline also launched its cargo segment, which provided a steady income source separate from passenger travel.
On the cost side, Sun Country renegotiated supplier contracts and streamlined operations to bring down expenses. The combination of growing revenue and tighter cost controls put the airline in a strong financial position. By 2025, Sun Country had exceeded $1 billion in annual revenue for two consecutive years and had reported 13 straight quarters of profitability.
Sun Country Airlines’ Expansion and Growth Strategies
Sun Country pursued aggressive growth during the Apollo years and beyond. The airline strategically added routes to popular leisure destinations, including beach resorts and national parks, tapping into rising demand for domestic travel and outdoor experiences.
The airline also built partnerships with tour operators and travel agencies to offer bundled vacation packages that combined flights with hotels and activities. The Amazon Air cargo partnership added another dimension to the business, reducing dependence on passenger revenue alone. These strategies diversified Sun Country’s income and strengthened its brand in the leisure travel market.
Customer Experience and Service Improvements
Customer experience got significant attention after the Apollo acquisition. The airline revamped its inflight offerings with new food options and free in-flight entertainment accessible on passengers’ personal devices. Most seats were equipped with in-seat power, full-size tray tables, and generous recline.
Sun Country also set up feedback systems so passengers could share their experiences directly with management. That helped the airline catch problems early and adjust based on what customers actually wanted. The goal was to build long-term loyalty by consistently delivering a comfortable and affordable flying experience.
The Allegiant Acquisition: What Comes Next
In January 2026, Allegiant Travel Company announced a definitive agreement to acquire Sun Country in a cash-and-stock transaction. The deal values Sun Country at approximately $1.5 billion, including about $400 million in net debt. Sun Country shareholders will receive 0.1557 shares of Allegiant stock plus $4.10 in cash for each Sun Country share.
The combined airline will operate under the Allegiant name with headquarters in Las Vegas. Allegiant CEO Greg Anderson will lead the combined company. The airlines have said they plan to maintain a significant presence in Minneapolis-Saint Paul, which will become the combined carrier’s largest base of operations. The transaction is expected to close in the second half of 2026, pending regulatory approvals. Until then, both airlines will continue to operate independently.
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Challenges and Opportunities Ahead
The airline industry is unpredictable. Fuel price swings, economic slowdowns, and shifting consumer habits can all squeeze margins and force rapid adjustments. The pending Allegiant merger adds another layer of uncertainty, with integration challenges and regulatory review ahead.
On the other hand, leisure travel demand remains strong. Remote work trends have opened up new travel patterns, with more people taking longer trips and working from vacation destinations. If the Allegiant deal closes, the combined carrier would become a clear leader in the U.S. leisure airline segment, with complementary route networks and a shared focus on connecting travelers to vacation destinations at affordable prices.
FAQs
What is Sun Country Airlines?
Sun Country Airlines is an ultra-low-cost airline based in Minneapolis, Minnesota. It operates scheduled and charter flights to destinations across the United States, Canada, Mexico, Central America, and the Caribbean. It also operates cargo flights for Amazon Air.
Who owns Sun Country Airlines?
Sun Country Airlines is a publicly traded company on the NASDAQ under the ticker symbol SNCY. It is owned by Sun Country Airlines Holdings, Inc. Apollo Global Management acquired the airline in 2018 and exited its investment in early 2025. In January 2026, Allegiant Travel Company announced an agreement to acquire Sun Country, with the deal expected to close in the second half of 2026.
Is Sun Country Airlines a publicly traded company?
Yes. Sun Country Airlines went public on March 17, 2021, and trades on the NASDAQ Global Select Market under the symbol SNCY.
Does Sun Country Airlines have any subsidiaries?
Sun Country Airlines operates as a subsidiary of Sun Country Airlines Holdings, Inc. (SNCY). The airline runs both passenger and cargo operations, with its cargo flights operating under the Amazon Air brand.
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