Sun Country Airlines Shares Drop 4.5%

By Bobby Samwell • Friday, August 02 15:22 • Permanent Link

Sun Country Airlines Holdings, Inc. has recently released its 10-Q report, offering a detailed look at the company's financial performance and operations. Sun Country Airlines is an air carrier company that operates scheduled passenger, air cargo, charter air transportation, and related services in the United States, Latin America, and internationally. The company operates through two segments, Passenger and Cargo, and also provides crew, maintenance, and insurance services through various service contracts. As of December 31, 2023, its fleet consisted of 60 Boeing 737-NG aircraft, serving a wide range of customers including leisure, visiting friends and relatives passengers, charter and cargo customers, military branches, collegiate and professional sports teams, and more.

In the 10-Q report, under ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS, Sun Country Airlines highlights its business overview, operations in review, and components of operations. The report provides specific operating statistics for the three months ended June 30, 2024, and 2023, as well as the six months ended June 30, 2024, and 2023. These statistics include key performance indicators such as departures, block hours, aircraft miles, available seat miles, total revenue per available seat mile, average base fare per passenger, fuel gallons consumed, employees at the end of the period, cost per available seat mile, and adjusted cost per available seat mile.

The report also details the results of operations for the three months ended June 30, 2024, and 2023, showing the operating revenues and expenses, as well as non-operating income and expenses. Sun Country Airlines reported a decrease in operating revenues from $261,086 in 2023 to $254,381 in 2024. Operating expenses increased from $225,499 in 2023 to $242,016 in 2024, resulting in an operating income of $12,365 in 2024 compared to $35,587 in 2023. Non-operating income and expenses also saw changes, with interest income decreasing and interest expenses increasing.

Today the company's shares have moved -4.5% to a price of $11.14. If you want to know more, read the company's complete 10-Q report here.

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