Allegiant to Buy Sun Country Airlines in $1.5 Billion Deal
The New York Times••business
Key Points:
- Allegiant Travel announced plans to acquire Sun Country Airlines in a $1.5 billion deal, combining two small budget carriers.
- The merger aims to help both airlines grow and compete amid rising costs and industry challenges faced by low-cost carriers.
- Together, Allegiant and Sun Country will serve nearly 175 cities across the U.S. and nearby countries, focusing on affordable leisure travel.
- The deal includes $400 million of Sun Country’s debt and will be paid with a mix of stock and cash, offering Sun Country shareholders a nearly 20% premium.
- The combined company will be headquartered in Las Vegas, maintaining a significant presence in Minneapolis-St. Paul, with the transaction expected to close in the second half of the
