Sun Country Barely Survived Petters Scandal in 2008 The airline’s leaders were honest about the dire financial situation, and several players stepped up to save the carrier.
Sun Country Airlines, which unveiled plans Monday to become a public company, came dangerously close to extinction in 2008 because its flamboyant owner Tom Petters had been running a Ponzi scheme.
After Petters’ business and home were raided by federal agents, Sun Country found itself in a precarious financial position because it was relying on Petters to subsidize an operating deficit.
I covered the Sun Country saga during a seven-year period in which I reported on the airline industry full-time for the