MergerMay 1, 2026, 12:14 PM
SNCY Merger with Allegiant Expected May 13; Q1 Net Income $24.1M
AI Summary
Sun Country Airlines Holdings, Inc. entered a merger agreement with Allegiant Travel Company on January 11, 2026, with each SNCY share converting to $4.10 cash and 0.1557 shares of Allegiant Common Stock. Regulatory approvals have been largely secured, and the merger is anticipated to close as early as May 13, 2026. For Q1 2026, total operating revenues increased 3.6% to $338.4 million. Net income decreased 34.0% to $24.1 million ($0.43 diluted EPS) from $36.5 million ($0.66 diluted EPS) in the prior year, partly due to $9.8 million in special charges related to the proposed merger.
Key Highlights
- Merger agreement with Allegiant Travel Company signed January 11, 2026.
- Merger expected to close as early as May 13, 2026, pending remaining conditions.
- Each SNCY share to receive $4.10 cash and 0.1557 shares of Allegiant Common Stock.
- Q1 2026 Total Operating Revenues rose 3.6% to $338.4 million.
- Q1 2026 Net Income fell 34.0% to $24.1 million ($0.43 diluted EPS).
- Q1 2026 included $9.8 million in special charges related to the merger.
- Cargo revenue increased 63.7% to $46.1 million in Q1 2026.
- Company fleet grew to 72 Boeing 737-NG aircraft as of March 31, 2026.