Sun Country Airlines Holdings, Inc. (SNCY)

Sun Country Airlines Holdings, Inc. was the parent of Sun Country Airlines, a Minnesota-based carrier that began flying in the early 1980s and was headquartered in the Minneapolis area. The airline built its base around Minneapolis-St. Paul International Airport, operating scheduled passenger flights to leisure destinations, charter service and, in later years, cargo flying. The holding company completed its initial public offering on Nasdaq in March 2021 under the ticker SNCY.

The company operated three businesses: scheduled service, charter service and cargo. Scheduled flights linked Minneapolis-St. Paul and other cities with leisure destinations in the United States, Mexico, Central America and the Caribbean. Charter flights served customers such as sports teams, casinos, tour operators and the U.S. Department of Defense. Since 2020 the airline also flew Boeing 737-800 freighters for Amazon under a long-term arrangement, which diversified revenue beyond passenger travel.

Sun Country had been through several ownership changes before its public listing, including private-equity ownership, and used its mix of passenger, charter and cargo operations to manage seasonal variation in demand. By the time of the merger announcement it was operating a fleet of narrow-body Boeing 737 passenger aircraft and freighters, and it had built a reputation as a profitable regional low-cost operator.

In January 2026, Allegiant Travel Company announced an agreement to acquire Sun Country. Under the terms, each Sun Country share would convert into 0.1557 shares of Allegiant common stock plus $4.10 in cash, implying a value of about $18.89 per share at announcement. The transaction was valued at about $1.5 billion including roughly $400 million of net debt. After closing, Allegiant shareholders were expected to own about 67 percent of the combined company and Sun Country shareholders about 33 percent.

Shareholders of both companies and regulators approved the transaction, and Allegiant announced its completion on May 13, 2026. Sun Country common stock ceased trading on Nasdaq, with a Form 25 filed with the SEC on May 13. The combined airline, headquartered in Las Vegas, has about 195 aircraft serving nearly 175 cities on more than 650 routes.

The two airlines initially continued to operate separately while integration planning proceeded, and Allegiant said that over the long term the combined carrier would operate under the Allegiant name. Minneapolis-St. Paul was expected to remain an important hub for the enlarged company, and Sun Country's cargo and charter businesses continued as part of it.