Sun Country shows a 4Q profitby Minnesota News Network, MNN
St. Paul, Minn. — Minnesota-based Sun Country Airlines today announced a fourth quarter profit of $955,000.
Sun Country Chief Executive Stan Gadek says lower fuel prices played a part in the company's profitability, and he expects Sun Country will continue to buck current revenue trends into this year.
"I think what you're really seeing here is the effects of the changes to our business model that we put into place over the last year," said Gadek. "We believe this is the first profitable fourth quarter in the last five years of the company -- maybe even longer than that."
For all of 2008, Sun Country reported a loss of $21.4 million, which compares to losses of $35 million in 2007.
However, for the second half of last year, Sun Country recorded a net income of $412,000, which compares to a net loss of $7.8 million the year before.
Based on booking, Gadek says Sun Country expects to be profitable for all of 2009.