Inside One of the Most Profitable U.S. Airlines You Haven’t Heard of

Skift Take
Surprisingly, since the pandemic, Delta Air Lines hasn’t always been the most profitable U.S. airline.
In fact, there’s an ultra-low-cost carrier that’s managed to make a healthy profit each quarter even as Spirit Airlines and Frontier Airlines falter. Enter Sun Country, an ultra-low-cost airline based out of Minneapolis.
Throughout 2023, Sun Country had an operating margin of 13%, the highest for an American carrier. Delta came in second at 11.6%.
During the second quarter, Sun Country saw its revenues shrink due to an overcapacity in domestic seating that has plagued much of the industry. Despite the underwhelming quarter, Sun Country was still the most profitable ultra-low-cost carrier in the country.
TD Cowen analyst Thomas Fitzgerald wrote in a note to investors August 5 that, “Sun Country has positioned itself well to navigate the headwinds facing leisure carr