Skip to main content

Sun Country Airlines to Acquire Five 737-900ERs

Written by Customer Service on . Posted in Public Companies.

Aircraft will remain on lease to Oman Air before delivery to Sun Country in 2024-2025

MINNEAPOLIS, April 04, 2023 (GLOBE NEWSWIRE) — Sun Country Airlines (NASDAQ: SNCY) will acquire five 737-900ERs that will expand its passenger fleet in late 2024 and 2025. Under terms of the deal, Sun Country will acquire current leases for the five aircraft which will remain on lease to Oman Air until the leases begin to expire in late 2024 and through 2025. Sun Country will take delivery of one aircraft in late 2024 and the other four throughout 2025.

Purchasing the aircraft under their existing leases is advantageous to Sun Country for several reasons:

  • This transaction demonstrates Sun Country’s ability to opportunistically acquire aircraft in a tight market at favorable economic terms while providing fleet growth certainty through 2025.
  • Acquiring five aircraft of the same variant guarantees sufficient scale to be efficient in Sun Country’s existing fleet of 737-800s.
  • The 737-900ER has more seat capacity than 737-800s and can fly a longer range.
  • Sun Country will deploy capital to acquire the aircraft today while receiving lease revenue though 2025.
  • Finally, used aircraft induction lead times have been challenged by supply chain constraints and engineering support. This transaction allows Sun Country to minimize the transition time of modifying the aircraft and induction into revenue service.

“The 737-900ER will be a great addition to our fleet,” said Jude Bricker, CEO of Sun Country. “Relative to our 737-800 aircraft, it will increase the number of seats without a reduction in range or take-off performance. This transaction demonstrates our ability to find creative ways to source the right aircraft in any market environment.”

The acquisition will be financed through a credit facility with MUFG Union Bank.

ABOUT SUN COUNTRY AIRLINES
Sun Country Airlines is a new breed of hybrid low-cost air carrier, whose mission is to connect guests to their favorite people and places, to create lifelong memories and transformative experiences. Sun Country dynamically deploys shared resources across our synergistic scheduled service, charter, and cargo businesses. Based in Minnesota, 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, Canada, and the Caribbean.

For photos, b-roll and additional company information, visit http://www.suncountryview.com/newsroom/multimedia/.

 

CONTACT: Media Contact
Sun Country Airlines
651-900-8400
mediarelations@suncountry.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.