Sun Country Plans Rare Airline IPO
Skift Take
Airline IPOs are few and far between. That's why now, while the industry is staggering from its worst-ever crisis, may seem an odd time to go public. But Sun Country has always done things differently, and its cargo deal with Amazon may make it more attractive to investors.
Minneapolis-based Sun Country Airlines has chosen now, during the airline industry's worst-ever crisis, to go public. The carrier filed its intent to offer shares with the U.S. Securities and Exchange Commission (SEC) on February 8, hoping to raise at least $100 million.
The airline offered few details on its plans, with the number of shares and their price to be determined. Barclays, Morgan Stanley, and Deutsche Bank, together with Sun Country's current owner, Apollo Global Management, are underwriting the offering.
Read Skift's Sun Country Coverage: Sun Country: Inside America's Most Unusual Airline
Apollo signaled its intention to float Sun Country more than year ago. At the time, CEO Jude Bricker told Skift the company
