Sun Country Airlines Holdings, Inc. Stock Price, News & Analysis

Sun Country Airlines (NASDAQ: SNCY) reported strong Q3 2021 results with GAAP EPS of $0.23 and operating income of $22 million. Total revenue reached $174 million, up 16% from Q2 2021 and 1% higher than Q3 2019, marking the first quarterly revenue increase compared to pre-pandemic levels. The airline achieved a record adjusted operating margin of 13.2%. Despite total available seat miles being 16% lower than Q3 2019, ancillary revenue per passenger increased by 33%. The company remains focused on growth, acquiring two additional aircraft and expanding its service offerings.

Sun Country Airlines (NASDAQ: SNCY) has announced a new five-year agreement to provide charter services for all Major League Soccer (MLS) teams, starting in 2022. This partnership builds on a relationship initiated in the summer of 2020, during the league's return to play after COVID-19. The agreement aligns with the league's Collective Bargaining Agreement, ensuring that MLS teams receive essential travel services, underscoring Sun Country's operational capabilities. According to MLS officials, Sun Country has delivered excellent service during challenging times.

Sun Country Airlines (NASDAQ: SNCY) will hold its third quarter 2021 earnings call on November 2, 2021, at 8:30 AM Eastern Time. Investors can access the live call and replay through the Sun Country investor relations website or by calling 1-(833)-458-0947. Based in Minnesota, Sun Country is a low-cost airline servicing leisure travelers and charter customers, operating flights across the U.S., Mexico, Central America, and the Caribbean, while also providing charter management services to Amazon.

Sun Country Airlines Holdings (SNCY) announced an upsized secondary public offering of 8.5 million shares at $32.50 each, set to close on October 19, 2021. The offering will be executed by certain existing stockholders, including management, and does not involve any company proceeds. Additionally, underwriters have a 30-day option to purchase 1.275 million more shares. Barclays and Morgan Stanley serve as joint lead bookrunners for the offering, with several firms acting as bookrunners and co-managers. A registration statement has been filed with the SEC.

Sun Country Airlines Holdings announced a secondary public offering of 8,000,000 shares of common stock by existing shareholders. The underwriters, Barclays and Morgan Stanley, have a 30-day option to purchase an additional 1,200,000 shares. Sun Country will not receive any proceeds from this offering. A registration statement has been filed with the SEC but is not yet effective, meaning securities cannot be sold until then. This offering underscores the liquidity strategy for current shareholders and reflects the company's ongoing market presence.

Sun Country Airlines (SNCY) reported a strong Q2 2021 with net income of $51.8 million and operating income of $49 million. Total operating revenue rose to $149.2 million, a 321% increase year-over-year. The company also achieved adjusted operating income of $11.5 million despite the impact of the CARES Act grant. Passenger revenue benefitted from increased fares and ancillary sales, while the load factor reached 77%, the highest since Q4 2019. The company aims for continued growth with expanded routes and increased aircraft deliveries.

Sun Country Airlines (NASDAQ: SNCY) has scheduled its second quarter 2021 earnings call for July 29, 2021, at 8:30 a.m. ET. The call will be accessible through the company's investor relations website and via telephone. Sun Country operates as a hybrid low-cost carrier, focusing on leisure travel and charter services, along with providing CMI services to Amazon. The airline primarily serves the U.S., Mexico, Central America, and the Caribbean, catering to leisure passengers and visiting friends and relatives.

Sun Country Airlines Holdings, Inc. (NASDAQ: SNCY) announced a secondary public offering of 7,250,000 shares, priced at $34.50 each, with a closing date expected on May 24, 2021. The shares are being sold by an affiliate of Apollo Global Management, and the underwriters have a 30-day option to purchase an additional 1,087,500 shares. Notably, Sun Country will not receive any proceeds from this offering.

Barclays, Morgan Stanley, and Deutsche Bank Securities are joint lead bookrunners for the offering.

On May 18, 2021, Sun Country Airlines (NASDAQ: SNCY) announced that its President and CFO, Dave Davis, will participate in the Ultra-Low-Cost-Carrier panel at the Wolfe Research Transportation and Industrials Conference on May 25 at 10:20 AM EDT. The live webcast can be accessed via the investor relations section of the company's website.

Sun Country Airlines operates as a hybrid low-cost carrier, catering primarily to leisure travelers and charter customers, and offers cargo services throughout the United States and various international destinations.