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Sun Country Announces Repayment of Loan Cites Progress in Its Reorganization Efforts

Dépèche transmise le 10 mars 2009 par Business Wire

Sun Country Announces Repayment of Loan Cites Progress in Its Reorganization Efforts

ST. PAUL, Minn.--(BUSINESS WIRE)--Sun Country Airlines announced today that it had repaid in full the Debtor in Possession financing loan the Airline received in December, 2008.

“This is a significant achievement as we continue to position Sun Country as a successful, profitable, low-fare airline based in the Twin Cities,” said president & CEO Stan Gadek. “Sun Country has become more efficient and financially stronger despite adverse circumstances. Our success is due to the loyalty and dedication of every member of the Sun Country team and the continuing strong support of our customers.”

While in bankruptcy, Sun Country’s focus as Minnesota’s “Hometown Airline” has remained the same: to restore itself as a profitable, nimble, and customer-friendly airline serving the travel needs of Minnesota and the region. “The response of our valued customers has been overwhelmingly positive and has been a significant factor in our turnaround,” Gadek said.

The airline is also projecting a profit for the first quarter and full year 2009 – its first in many years. Sun Country is pleased with its progress to date and expects to announce more positive news regarding new service and the reorganization process in the days and months ahead. “We are doing things right and building a strong foundation for a solid future,” Gadek said.

About Sun Country Airlines
MN Airlines, LLC, d.b.a. Sun Country Airlines is based in St. Paul, Minnesota. Sun Country, which has earned a reputation for offering world class service at an affordable price, was recently named in the “Top Ten Domestic Airlines” by Travel+Leisure and Condé Nast Traveler for the third year in a row. The airline flies to popular destinations in the U.S., Mexico and the Caribbean. For a complete list of destinations and more information, please visit www.SunCountry.com.