Sun Country Airlines is close to being sold, according to court documents filed this week.
In a filing made Monday in the bankruptcy case of former Sun Country owner Tom Petters, trustee Doug Kelley said he "is anticipating accepting a letter of intent from a proposed purchaser shortly."
The name of the potential buyer wasn't disclosed, and neither was a purchase price.
Kelley asked U.S. Bankruptcy Judge Gregory Kishel to seal the name of the potential buyers, their offer and the minimum offer the airline would be willing to accept while the deal is being negotiated. A hearing on the matter is set for Tuesday.
Kelley said his ability to negotiate a price for the sale of the Twin Cities airline "will be hindered" if he can't provide assurance that the price being offered will be accepted by shareholders.
Sun Country Airlines close to being sold | Minneapolis / St. Paul Business Journal
In a filing made Monday in the bankruptcy case of former Sun Country owner Tom Petters, trustee Doug Kelley said he "is anticipating accepting a letter of intent from a proposed purchaser shortly."
The name of the potential buyer wasn't disclosed, and neither was a purchase price.
Kelley asked U.S. Bankruptcy Judge Gregory Kishel to seal the name of the potential buyers, their offer and the minimum offer the airline would be willing to accept while the deal is being negotiated. A hearing on the matter is set for Tuesday.
Kelley said his ability to negotiate a price for the sale of the Twin Cities airline "will be hindered" if he can't provide assurance that the price being offered will be accepted by shareholders.
Sun Country Airlines close to being sold | Minneapolis / St. Paul Business Journal
