Sun Country Airlines falls as buyout giant Apollo looks to exit low-cost air carrier

Sun Country Airlines Holdings

10/02/2025 12:11

** Shares of low-cost air carrier Sun Country Airlines
 SNCY.O  fall 3.3% to $15.95 premarket
    ** SNCY unveils secondary offering wherein buyout giant
Apollo Global Management  APO.N  is selling its entire remaining
stake of ~6.4 million shares
    ** APO acquired SNCY in 2017, then a privately held airline,
from brothers Marty and Mitch Davis
    ** Four-years later, APO took SNCY public in New York in a
successful stock market debut
    ** APO's remaining stake in SNCY is worth $104.7 million as
of last close
    ** Barclays and Morgan Stanley are the joint bookrunners for
the proposed offering
    ** SNCY has authorized the purchase of $10 million worth of
shares in the stock offering from APO 
    ** SNCY stock fell 7.3% in 2024

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))