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LAXintl
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Sun County moves forward with IPO plans

Tue Oct 13, 2020 4:42 pm

Sun Country Airlines, owners Apollo Global Management, are planning to restart its push for an initial public offering (IPO).

Sun County CEO, Jude Bricker, stated that the airline has already recovered enough to turn in a profitable summer. The airline’s charter work for sports teams and casinos is returning to normality, and the company began cargo service in May for Amazon.com.

“We’re going to fly as many flights in October as we flew in February,” Bricker said in a Zoom interview from the annual International Aviation Forecast Summit in Cincinnati. “We’re in the sweet spot of everything that could be good about owning an airline right now but we need to see a recovery of airline traffic.”

Apollo's Sun Country to revive IPO plans as soon as next year
https://www.crainsnewyork.com/finance/a ... -next-year

=

Apollo who purchased SY in 2018 had originally been shooting for an IPO in April, which obviously was shelved.
From the desert to the sea, to all of Southern California
 
jetblueguy22
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Re: Sun County moves forward with IPO plans

Tue Oct 13, 2020 4:46 pm

The Amazon deal is starting to look like the smartest move made in the industry in the last 18 months. Obviously nobody could have foreseen what was to come, but it’s nice to see someone doing well in this environment.
Look at sweatpants guy. This is a 90 million dollar aircraft, not a Tallahassee strip club
 
MIflyer12
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Re: Sun County moves forward with IPO plans

Tue Oct 13, 2020 5:06 pm

LAXintl wrote:
“We’re going to fly as many flights in October as we flew in February,” Bricker said in a Zoom interview from the annual International Aviation Forecast Summit in Cincinnati.


As many flights doesn't mean as much revenue. Load factors, flown distance, and fare per mile can't be dismissed. (On the passenger side, obviously.)
 
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UPlog
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Re: Sun County moves forward with IPO plans

Thu Oct 15, 2020 3:30 pm

Pretty impressive they are looking at a profit in Q3.
Sure Amazon freighter flying helps, but it only began in May, and not many frames yet. They obviously did a great job of managing routes/frequencies to juggle passenger demand changes.
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SteveXC500
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Re: Sun County moves forward with IPO plans

Thu Oct 15, 2020 7:02 pm

Interesting. They'll raise capital but need to hire a ton of people to adhere to public company filing regulations.
 
jbs2886
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Re: Sun County moves forward with IPO plans

Thu Oct 15, 2020 7:33 pm

UPlog wrote:
Pretty impressive they are looking at a profit in Q3.
Sure Amazon freighter flying helps, but it only began in May, and not many frames yet. They obviously did a great job of managing routes/frequencies to juggle passenger demand changes.


The Amazon flying ramped up to all planned 10 frames within only a few months of beginning. In addition, the Amazon frames are 25% of the fleet. I think you are underselling that business.
 
jbs2886
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Re: Sun County moves forward with IPO plans

Thu Oct 15, 2020 7:35 pm

SteveXC500 wrote:
Interesting. They'll raise capital but need to hire a ton of people to adhere to public company filing regulations.


Its not that many people, its a dozen more inside, plus professional fees. The access to capital far outweighs that expense.
 
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SteveXC500
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Re: Sun County moves forward with IPO plans

Fri Oct 16, 2020 3:40 pm

jbs2886 wrote:
SteveXC500 wrote:
Interesting. They'll raise capital but need to hire a ton of people to adhere to public company filing regulations.


Its not that many people, its a dozen more inside, plus professional fees. The access to capital far outweighs that expense.


Well aware the capital raise will far exceed hiring. Just pointing out the fact that regulations on publicly held companies are many and do take a lot of work versus private.
 
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LAXintl
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Re: Sun County moves forward with IPO plans

Fri Oct 16, 2020 10:52 pm

CEO Jude Bricker sees 2021 business being down only 20% smaller than 2019.

https://airlinegeeks.com/2020/10/16/sun ... h-for-ipo/
From the desert to the sea, to all of Southern California
 
B-787
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Re: Sun County moves forward with IPO plans

Sat Oct 17, 2020 7:10 am

Seeing as how IPOs work, and all the steps a company will go through to raise capital before an IPO, this seems like a desperate cash grab during tough times.
717,722,732,73G,738,739,739ER,752,753,762,763,764,744,772,788,D10,M80,300,332,333,320,319,CR7,CR9,ER4,AT4,E70,E75
 
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LAXintl
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Re: Sun County moves forward with IPO plans

Wed Nov 11, 2020 5:24 pm

In the meantime, SY agreed to a $45mil loan from U.S. Treasury.

https://www.washingtonpost.com/business ... cares-act/
From the desert to the sea, to all of Southern California
 
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LAXintl
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Re: Sun County moves forward with IPO plans

Mon Feb 08, 2021 10:32 pm

IPO prospectus released. Plans to trade on Nasdaq.

https://www.sec.gov/Archives/edgar/data ... 456ds1.htm
From the desert to the sea, to all of Southern California
 
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UPlog
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Re: Sun County moves forward with IPO plans

Tue Feb 09, 2021 6:44 am

Seems the owner's Apollo must be very convinced now is the time to cash out some of their investment.

news story from today:
https://www.startribune.com/sun-country ... 600020663/
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DaCubbyBearBar
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Re: Sun County moves forward with IPO plans

Tue Feb 09, 2021 7:46 am

This will be interesting to see what they think their Market Cap is in these weird days
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UPlog
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Re: Sun County moves forward with IPO plans

Fri Feb 12, 2021 6:29 pm

Seems analysts see Sun Country which has often done things differently as attractive for investors especially with the future upside potential with its cargo deal with Amazon.

https://skift.com/2021/02/08/sun-countr ... rline-ipo/
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LAXintl
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Re: Sun County moves forward with IPO plans

Tue Mar 09, 2021 12:16 am

SY increased its IPO offering from $100mil to between $220 million and $240 million in gross proceeds.

Sun Country Doubles Target for Its Rare Airline IPO With $240 Million Ambition
https://airlineweekly.com/sun-country-d ... -ambition/
From the desert to the sea, to all of Southern California
 
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LAXintl
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 1:50 am

SY starts trading tomorrow on Nasdaq with symbol SNCY.

Image

https://pbs.twimg.com/media/EwpK1a0WQAM ... ame=medium
From the desert to the sea, to all of Southern California
 
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LAXintl
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 4:42 pm

From the desert to the sea, to all of Southern California
 
737max8
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 4:48 pm

So much for $24, I was in for that price but not at $34
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NameOmitted
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 5:08 pm

jbs2886 wrote:
SteveXC500 wrote:
Interesting. They'll raise capital but need to hire a ton of people to adhere to public company filing regulations.


Its not that many people, its a dozen more inside, plus professional fees. The access to capital far outweighs that expense.


A dozen people, the average weight of, what... 180 lbs? 2,160 lbs. SteveXC500 wins on a technicality! :duck:
 
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sunking737
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 5:47 pm

As a follower of SCX since first day they took off in 1983. Nice to see that finally made it this far...
"Don't believe it unless its parked on the ramp, or printed in the schedule...SUBJECT TO CHANGE"
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SteveXC500
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 6:25 pm

NameOmitted wrote:
jbs2886 wrote:
SteveXC500 wrote:
Interesting. They'll raise capital but need to hire a ton of people to adhere to public company filing regulations.


Its not that many people, its a dozen more inside, plus professional fees. The access to capital far outweighs that expense.


A dozen people, the average weight of, what... 180 lbs? 2,160 lbs. SteveXC500 wins on a technicality! :duck:


Public vs Privately held is a big difference from a regulatory perspective.
 
MIflyer12
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 6:36 pm

I've seen people in private equity declare that incremental costs for going public are about $2 million annually after Sarbanes-Oxley. It's not insignificant for a ~$50 million a year business, but SNCY's S-1 filing pointed to $701 million in operating revenues for 2019. A dozen people sounds about right.
 
pranav7478
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Re: Sun County moves forward with IPO plans

Wed Mar 17, 2021 9:21 pm

ill wait until near the lockup expiration to get in. ipos have been pretty hot for the past few months
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UPlog
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Re: Sun County moves forward with IPO plans

Thu Mar 18, 2021 4:33 am

I fly your boxes
 
jjbiv
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Re: Sun County moves forward with IPO plans

Thu Mar 18, 2021 5:29 am

Did SY rank and file employees get any shares over the years?
 
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UPlog
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Re: Sun County moves forward with IPO plans

Sat Mar 20, 2021 3:22 pm

With the stock trading, market valuation nearly 1.9Bil as of Friday for the airline.

https://www.flightglobal.com/strategy/s ... 52.article
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