Discount Airlines Tap Stock Market as Investors Bet on Travel Recovery Discount Airlines Tap Stock Market as Investors Bet on Travel Recovery
Frontier Airlines, Sun Country raise hundreds of millions in IPOs a year after the Covid-19 pandemic crushed air travel
published : 3 Apr 2021 at 11:43
14 A United Airlines Boeing 737 MAX airliner on the ramp at Renton airport adjacent to the Boeing factory in Renton, Washington. United Airlines announced on April 1 it will immediately start hiring pilots, beginning with a group of 300, to be ready to meet growing demand for air travel. (Photo: AFP)
As air travel shows more signs of rebounding from its pandemic lows, airlines that focus on offering cheap fares to leisure travelers are cashing in on the stock market.
Sun Country eyes quicker used jet purchases with IPO funds to fuel growth, CEO says
flightaware.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from flightaware.com Daily Mail and Mail on Sunday newspapers.
Sun Country eyes quicker used jet purchases with IPO funds to fuel growth, CEO says
flightaware.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from flightaware.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
2 Min Read
(Reuters) - Sun Country Airlines Holdings Inc, a low-cost carrier backed by private-equity firm Apollo Global Management Inc, sold shares in its initial public offering (IPO) on Tuesday at $24 apiece to raise about $218.2 million.
The Minnesota-based airline, which offers affordable flights and vacation packages to destinations across the United States and in Mexico, Central America and the Caribbean, sold 9.1 million shares in the IPO, previously aiming to sell at a target price range of $21 to $23.
Founded in 1982 by Jim Olsen and a small group of pilots and flight attendants, Sun Country has charter business and also operates cargo flights besides its scheduled passenger services.