Minnesota-based ULCC Sun Country Airlines sold to NY investment firm

Minneapolis/St-Paul-based leisure carrier-turned ULCC Sun Country Airlines will be sold to New York investment firm Apollo Global Management during Q1 of 2018, pending regulatory approvals and other customary conditions, the two companies said Dec 14. Financial terms of the sale were not disclosed. Sun Country, which flies approximately 2.5m passengers annually from US Midwest cold-weather locales to destinations in Mexico, Costa Rica and the Caribbean, is the largest privately held fully independent airline in the US, and has been owned by brothers Marty and Mitch Davis of Cambria Holdings since 2011. The airline is managed by CE Jude Bricker, who came on board in July after 11 years at Ultra LCC Allegiant Air and soon instituted ULCC-style fee-heavy reforms at Sun Country. <br/>