Sun Country Airlines to be Acquired by Allegiant in $1.5 Billion Cash and Stock Transaction

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Allegiant Travel Company announced a definitive agreement to acquire Sun Country Airlines Holdings, Inc. in a cash and stock transaction. This acquisition is a transformative event, valuing Sun Country at approximately $1.5 billion, including net debt, and represents a significant premium for shareholders. The combined entity is expected to generate $140 million in annual synergies and be earnings accretive in the first full year post-closing, creating a stronger, more diversified leisure airline with an expanded network and enhanced operational flexibility. The deal is anticipated to close in the second half of 2026, subject to regulatory and shareholder approvals.

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• Definitive Merger Agreement Announced

  Allegiant Travel Company will acquire Sun Country Airlines Holdings, Inc. in a cash and stock transaction.

• Significant Transaction Value and Premium

  The deal values Sun Country at approximately $1.5 billion, inclusive of $400 million of net debt, and offers a 19.8% premium over its January 9, 2026 closing share price of $15.77.

• Shareholder Consideration

  Sun Country shareholders will receive 0.1557 shares of Allegiant stock plus $4.10 in cash for each share, resulting in an implied value of $18.89 per share.

• Expected Annual Synergies

  The combination is projected to generate approximately $140 million in annual synergies, net of dis-synergies, within three years post-closing.

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Allegiant Travel Company announced a definitive agreement to acquire Sun Country Airlines Holdings, Inc. in a cash and stock transaction. This acquisition is a transformative event, valuing Sun Country at approximately $1.5 billion, including net debt, and represents a significant premium for shareholders. The combined entity is expected to generate $140 million in annual synergies and be earnings accretive in the first full year post-closing, creating a stronger, more diversified leisure airline with an expanded network and enhanced operational flexibility. The deal is anticipated to close in the second half of 2026, subject to regulatory and shareholder approvals.