Sun Country earns $12.4m profit in Q1

Sun Country Airlines’ diversified business model – which includes scheduled passenger services, charter flights and freight transport – helped propel the airline to a first-quarter profit. The Minneapolis, Minnesota-based ultra-low-cost carrier on 6 May revealed a profit of $12.4m for the first three months of the year, up 71.2% from the $7.3m it earned in the same period a year ago. Total revenue at the carrier came in at $127m, down 29% from the $180m the carrier earned in Q1 2020. A 52% drop in revenue from scheduled services fuelled that decline. The airline is reporting its first set of quarterly results since its shares began trading on the NASDAQ exchange in March. “While we remain in an unpredictable environment, our business is continuing to recover from the impact of Covid-19 on industry demand,” says CE Jude Bricker. “I am encouraged by the recent improvement we are seeing in forward bookings. Demand really picked up in mid-February, and that momentum continues.”<br/>