SWA buying SunCountry

[Bill Nelson]

Heard through the grapevine that SWA is going to announce the purchase of SunCountry in the next 60 days. Anyone else hear this?

 

[radarlove]

Must be because SWA is dying to get a hold of their 737-800s, not.

 

[XR650R]

Gates in MSP??? There is no earthly reason what so ever besides this thought.

 

[1st Rate]

I guess it is one way to get into MSP!

 

[ironspud]

AH.

'Nother one of those "heard" thingies'.

Booooorrrrring.

 

[Bugs]

Welllllll: I heard about this from my buds.

Petters-led group to buy Sun Country

Liz Fedor, Star Tribune Last update: July 21, 2006 – 12:57 AM

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Business


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Sun Country Airlines, a low-fare carrier based in Mendota Heights, has agreed to be sold to an investor group led by Minnetonka businessman Tom Petters, airline CEO Shaun Nugent said Thursday.
Sun Country's board of directors approved the transaction during a meeting Thursday in Minneapolis, and Nugent said the airline's current shareholders are expected to ratify the deal today.
Nugent did not disclose the terms of the deal. But he said in an interview with the Star Tribune that the new investors are acquiring a 100 percent interest in the company and that the transaction will allow Sun Country to recapitalize the business and expand.
Petters said that White Box Advisers, a private equity group in the Twin Cities, is his investment partner in the stock deal.
In 2005, about 1.6 million passengers flew on Sun Country, and the carrier's revenue reached $204 million.
Nugent said, "I have every intention to keep the operating company together with the same management team that has taken it this far." Sun Country emerged from bankruptcy in early 2002, and Nugent said the airline has been successful because of its employees' customer service and low fares on new Boeing 737-800s.
Said Petters: "We think it is the best-kept secret in Minnesota."
The deal is subject to approval by federal regulators, which could take 30 to 60 days, Petters estimated.
Nugent said: "The airline business is extremely capital-intensive. We determined that aligning with the Tom Petters investment group provides the greatest amount of capital and creativity that will allow us to execute our [business] plan."
Liz Fedor • 612-673-7709


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[pipejockey]

Heard through the grapevine that SWA is going to announce the purchase of SunCountry in the next 60 days. Anyone else hear this?

Thank goodness I didn't apply to SunCountry back when I had a chance!

 

[ajhbubs84]

Explains why the last two times I have been to MSP there have been SWA jets at the Humphrey Terminal.

And its about time

 

[SWA/FO]

Maybe to buy the -800s and trade them to Alaska for their -700s. Also the gates in MSP. It might happen.

 

[mnboyev]

The Fingerhut guy is buying them... nothing will change except more dough for Sun Country.. Good for them guys... Best way to get to Mexico or Alaska out of MSP.. Great Airline.. good people. Glad to see they are recovering from that BS created from that Milwaukee crowd ...

 

[Aplus9]

Welllllll: I heard about this from my buds.

Petters-led group to buy Sun Country

Liz Fedor, Star Tribune Last update: July 21, 2006 – 12:57 AM

[URL="http://www.startribune.com/style/graphics/ui/icon_print.gif"]http://www.startribune.com/style/graphics/ui/icon_print.gifPrinter friendly[/URL] [URL="http://www.startribune.com/style/graphics/ui/icon_email.gif"]http://www.startribune.com/style/graphics/ui/icon_email.gifE-mail this story[/URL]

Business


Filling tanks in farmland drains rural Minnesotans
Everything's all upwind at Pipestone
The fun keeps rolling
Manufacturers go to great lengths to improve energy efficiency
CEO pay watch: Medtronic's Collins got $9 million


Sun Country Airlines, a low-fare carrier based in Mendota Heights, has agreed to be sold to an investor group led by Minnetonka businessman Tom Petters, airline CEO Shaun Nugent said Thursday.
Sun Country's board of directors approved the transaction during a meeting Thursday in Minneapolis, and Nugent said the airline's current shareholders are expected to ratify the deal today.
Nugent did not disclose the terms of the deal. But he said in an interview with the Star Tribune that the new investors are acquiring a 100 percent interest in the company and that the transaction will allow Sun Country to recapitalize the business and expand.
Petters said that White Box Advisers, a private equity group in the Twin Cities, is his investment partner in the stock deal.
In 2005, about 1.6 million passengers flew on Sun Country, and the carrier's revenue reached $204 million.
Nugent said, "I have every intention to keep the operating company together with the same management team that has taken it this far." Sun Country emerged from bankruptcy in early 2002, and Nugent said the airline has been successful because of its employees' customer service and low fares on new Boeing 737-800s.
Said Petters: "We think it is the best-kept secret in Minnesota."
The deal is subject to approval by federal regulators, which could take 30 to 60 days, Petters estimated.
Nugent said: "The airline business is extremely capital-intensive. We determined that aligning with the Tom Petters investment group provides the greatest amount of capital and creativity that will allow us to execute our [business] plan."
Liz Fedor • 612-673-7709


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Thanks Bugs for quickly squelching this rumor. End of discussion.:uzi:

 

[propilot]

Explains why the last two times I have been to MSP there have been SWA jets at the Humphrey Terminal.

And its about time

Actually, Southwest has been doing charters out of MSP...

 

[flyboyike]

I don't know how good Tom Petters is to his employees, but his business sense and track record are pretty impeccable. At least, so far. The guy knows what he's doing.

 

[TexaSWA]

Thank goodness I didn't apply to SunCountry back when I had a chance!

You must have an excellent job. Congrats! Who is it with if you dont mind me asking?

 

[pipejockey]

You must have an excellent job. Congrats! Who is it with if you dont mind me asking?

I'd rather drive a truck than work for a company that has created a workforce of underpaid pilots.

 

[XR650R]

I'd rather drive a truck than work for a company that has created a workforce of underpaid pilots.

Per your avatar......Well, in that case, I'm installing an irrigation system on my three acres- let me know if your interested in digging a few ditches- hope you can speak Spanish as the rest of the crew is "visiting" from down south.

 

[Peardc10]

Pipejockey:

You are so full of yourself, you dont know Sh>>>>>>>>>>>>>>>t. Sun Country is not the highest paid B737 crews in the market, but they are not the lowest either. Get a life..
At least they are holding there own in this screwed up industry.

It never ceases to amaze me, that their is always a so called expert waiting to jump on a story..........or a group of people............

 

[twepilot]

That must be some good chiva in your pipe. Dude.

RV

 

[fredthead]

Pipe jockey, of the 4 airlines based out of MSP, SCA is second in pay behind NWA and by only a little after NWA's latest round of pay cuts. I'm not sure you know what you are talking about.

 

[boomlrd]

PIPE JOCKEY is just pissed he is unemployed from CAT. Cuz we were so overpaid!

 

[TexaSWA]

I'd rather drive a truck than work for a company that has created a workforce of underpaid pilots.

You must have an excellent job. Congrats! Who is it with if you dont mind me asking?

 

[pipejockey]

XR650R, Peardc10, twepilot, and fredthead...YOU HAVE GOTTA BE KIDDING ME!! Did you actually think my post was to disparage SunCountry? Let me spell this out...this thread was about rumors that SWA was buying SunCountry right? Follow me? So I said "thank goodness I didn't apply to SunCountry when I had a chance!" Now by merely using ones mental acumen and putting 2 and 2 together, one could surmise that I don't want to end up being a part of SWA.

Lil ole SunCountry is not the cause of every legacy carrier being forced to offer fares for the past 5 years that don't even cover expenses. SWA is the said culprit!

TexaSWA, since you have asked me this twice now, I guess I should give you the courtesy of a response, although I know why you ask the question is to merely gather information you can use to belittle me while making yourself feel better about your lot in life. I no longer collect a paycheck from an airline. The last airline I worked for has failed to be a going concern, and I refuse to fly for a living if no company will offer me a living wage. The key word here is "living". If and when a company wants a skilled, competent, devoted (to the right company) airman and will pay me a wage that is appropriate to the skill set and the barriers to entry that are involved, then and only then will I return to aviation.

 

[twepilot]

Let me repost....That must be some good chiva in your pipe. Dude.

RV

 

[canyonblue]

Lil ole Sun Country is not the cause of every legacy carrier being forced to offer fares for the past 5 years that don't even cover expenses. SWA is the said culprit!

I think it was the decision making of those legacy executives that priced their product BELOW cost, but if you want to support those executive decisions then I won't even try to explain it to you. Your posts do show one thing in common, you have to be the stupidest pilot out there. You make no sense, and don't even understand the basic principals of Econ 101. Maybe your Dad got furloughed, since you come off as about 15 years old, and you post on here because you are p!ssed. Based on your posts I doubt you have the ability for Abstract Thought, let alone the ability to fly an airplane. uke:

 

[Bugs]

Meanwhile back at the ranch, the Minneapolis news paper web page,www.startribune.com has ads on it for Southwest. Makes you wonder.

 

[HighSpeedClimb]

I'd rather drive a truck than work for a company that has created a workforce of underpaid pilots.

Can you elaborate on this please, I thought SWA was the highest payer for the B737..

 

[pipejockey]

Can you elaborate on this please, I thought SWA was the highest payer for the B737..

How did they become the highest paid? They tore everyone else down. Legacy 737 pilots were earning more five years ago than what swa is today. What has legacy management been saying constantly the last 5 years? I'll tell you...they have been saying "we must cut our costs and become an LCC and compete with swa and jb".

You make no sense, and don't even understand the basic principals of Econ 101.

Dont give me all that supply and demand and elasticity crap! Why did air travel reduce drastically in the fall of 2001? I'll give you a hint, it had nothing to do with economics. It had everything to do with what is considered an "outlier" in statistics. Well now demand is greater than ever before, and where are the prices? Not nearly high enough. Why is this? Gotta compete with swa dontcha know!

Maybe your Dad got furloughed, since you come off as about 15 years old, and you post on here because you are p!ssed.

I guess the jig is up!!:bawling: It was a great jig while it lasted. I would have never thought it would be an swa pilot that figured me all out. Now don't I feel the fool.:0

 

[scoreboard]

Dont give me all that supply and demand and elasticity crap! :0

And stupid statement for the day goes to: Pipejockey

Yes, lets not cloud the issue of negligent management teams with proven economic theories.

 

[TexaSWA]

...I know why you ask the question is to merely gather information you can use to belittle me while making yourself feel better about your lot in life...

... If and when a company wants a skilled, competent, devoted (to the right company) airman and will pay me a wage that is appropriate to the skill set and the barriers to entry that are involved, then and only then will I return to aviation.

Not trying to belittle you Pipe. I feel fine about my lot in life. I certainly hope I didnt hurt your feelings. You might consider rereading your posts and consider how you are perceived. It appears that you are the one doing the belittling in order to make yourself feel better about your lot in life. Or whatever.

I was just curious who you fly for, because I could only imagine that it must be nice.

Seriously though, what is a "living wage" for a 3rd year F.O. We have a section 6 coming up and I want to know where to start bargaining. Last year (year 2) I scraped by on just over 100k. Not sure how I made it.

 

[Skyboy722]

Lil ole SunCountry is not the cause of every legacy carrier being forced to offer fares for the past 5 years that don't even cover expenses. SWA is the said culprit!

Well, the fares sure do seem to cover SWA's costs. So what responsibility does SWA have to the legacies again?