Sun Country Airlines Holdings Inc.

SNCY

Sun Country Airlines is a new breed of hybrid low-cost air carrier that dynamically deploys shared resources across our synergistic scheduled service, charter and cargo businesses. By doing so, we believe we are able to generate high growth, high margins and strong cash flows with greater resilience than other passenger airlines. We focus on serving leisure and visiting friends and relatives (“VFR”) passengers and charter customers and providing CMI service to Amazon, with flights throughout the United States and to destinations in Mexico, Central America and the Caribbean. Based in Minnesota, we operate an agile network that includes our scheduled service business and our synergistic charter and cargo businesses.

We share resources, such as flight crews, across our scheduled service, charter and cargo business lines with the objective of generating higher returns and margins and mitigating the seasonality of our route network. We optimize capacity allocation by market, time of year, day of week and line of business by shifting flying to markets during periods of peak demand and away from markets during periods of low demand with far greater frequency than nearly all other large U.S. passenger airlines. We believe our flexible business model generates higher returns and margins while also providing greater resiliency to economic and industry downturns than a traditional scheduled service carrier. As a result of our diversified and resilient business model, we believe we have been the best performing mainline U.S. passenger airline in 2020 during the current COVID-19 induced industry downturn based on pre-tax and operating income margins for the nine months ended September 30, 2020.

Offer Price Offer Size 3-Year Outlook Volatility 1st Day Turnover
$24.00 9,090,000 Positive High 69.87%

Offering Team

Deal Managers

  • Barclays
  • Morgan Stanley
  • Deutsche Bank

Lawyers

  • Paul, Weiss, Rifkind, Wharton & Garrison LLP

Auditors

  • KPMG LLP

Pre-IPO Investors

Investors

  • Google Ventures
  • Intel Ventures
  • Patricoff Ventures
  • Kleiner Perkins

Pre-IPO Holdings(%)

  • 30
  • 20
  • 05
  • 18

Deal Highlights

Deal Tracker

Investors

Filing

16 Mar, 2021

Offer

17 Mar, 2021

Look Ahead

Lock Up Expiry

17 Sep, 2021

Earning

Nov 1, 2018

IPO Terms

Offer Price $24.00
Offer Size 9M

Market Sentiments

Stock Price