Sun Country Airlines Holdings, Inc. - SNCY STOCK NEWS

Sun Country Airlines, trading under the symbol SNCY, announced that Chief Revenue Officer Grant Whitney will present at the J.P. Morgan Industrials Conference on March 14, 2023, at 2:50 p.m. EST. The conference will be accessible via a live webcast on the Sun Country investor relations website. As a hybrid low-cost carrier, Sun Country focuses on leisure travelers and charter services, operating flights throughout the U.S. and to destinations in Mexico, Central America, Canada, and the Caribbean. The airline aims to connect guests with their loved ones, creating memorable travel experiences.

Sun Country Airlines has appointed Jennifer L. Vogel as the new chair of the board of directors, effective March 7, 2023. Previously the senior vice president and general counsel of Continental Airlines, Vogel brings extensive governance experience and has served on multiple public company boards. She replaces David Siegel, who stepped down due to a business conflict unrelated to the airline. CEO Jude Bricker expressed confidence in Vogel's leadership to drive Sun Country's growth and enhance stakeholder value.

Vogel’s leadership is expected to facilitate strategic advancements, particularly as Sun Country continues its transformation as a new public company.

Sun Country Airlines (NASDAQ: SNCY) and the International Brotherhood of Teamsters (IBT) have reached an Agreement in Principle for a new collective bargaining agreement (CBA) for over 600 flight attendants. Over the next 30 days, both parties will finalize the CBA language, which will then be voted on by the flight attendants. The negotiation committee expressed satisfaction with the deal, highlighting improvements in wages and working conditions. Sun Country's VP of Inflight emphasized that this agreement supports the airline's operational quality and growth potential.

Sun Country Airlines Holdings, Inc. (NASDAQ: SNCY) has announced a proposed secondary public offering of 5,250,000 shares of its common stock, managed by Apollo Global Management affiliates. The underwriter has a 30-day option to purchase an additional 787,500 shares. Sun Country will not sell any shares or receive proceeds from this offering. Additionally, the airline has authorized the repurchase of up to 750,000 shares at a price equal to that of the offering, part of its $50 million stock repurchase program. This repurchase will be funded with existing cash. Barclays is the sole bookrunner for the offering.

Sun Country Airlines (NASDAQ: SNCY) reported strong financial results for Q4 and FY 2022, with Q4 GAAP diluted EPS of $0.12 and total operating revenue of $227.2 million, up 31.6% year-over-year. FY 2022 revenue reached $894.4 million, a 43.6% increase from 2021. Adjusted diluted EPS for the year stood at $0.42, reflecting a 35.5% rise. Despite challenges like rising fuel costs and the impact of COVID-19, the airline achieved a GAAP pre-tax margin of 2.7% and an adjusted pre-tax margin of 3.7%. Additionally, Sun Country announced 15 new nonstop routes starting summer 2023, while maintaining positive projections for 2023, with expectations of increased bookings and earnings growth.

Sun Country Airlines (NASDAQ: SNCY) will have its President and CFO, Dave Davis, participate in a fireside chat at the Evercore ISI Travel & Transport Conference on February 8 at 11 AM EST. The event offers a chance for investors and stakeholders to gain insights into the airline's operations and future plans. A live webcast of the discussion will be accessible on the Sun Country investor relations website. Founded in Minnesota, Sun Country Airlines is a hybrid low-cost carrier that focuses on leisure travel and charter services, offering flights throughout the U.S. and to destinations in Mexico, Central America, Canada, and the Caribbean.

Sun Country Airlines (NASDAQ: SNCY) will hold its fourth quarter and full year 2022 earnings call on February 3, 2023, at 8:30 a.m. ET. The call aims to provide insights into the company’s financial performance and outlook. Interested parties can access the live call through the Sun Country investor relations website or by dialing in via a provided link. The airline focuses on serving leisure travelers, charter customers, and providing services to Amazon, connecting passengers to U.S., Mexico, Central America, Canada, and Caribbean destinations.

Sun Country Airlines has appointed Gail Peterson to its board of directors, effective January 20, 2023. Peterson, executive vice president of Global Marketing & Communications at Ecolab, brings extensive experience from publicly held companies, enhancing Sun Country's leadership. She has previously led marketing at General Mills and is noted for her advocacy for diversity. Board chair David Siegel and CEO Jude Bricker highlighted her strategic vision as vital for the airline's growth. Peterson holds a bachelor's degree in psychology from Princeton and an MBA from Harvard, positioning her well for this role.

Sun Country Airlines has expanded its route network with 15 new nonstop routes from Minneapolis-St. Paul International Airport (MSP) starting summer 2023. This includes service to popular destinations such as Colorado Springs and Atlantic City. The airline's expanded schedule, now offering flights to 86 unique markets, reflects strong demand for domestic travel. Additionally, the service to John F. Kennedy International Airport (JFK) resumes after a four-year hiatus. The new routes aim to enhance connections for leisure travelers and support charter services.