Allegiant Travel Company announced that it will acquire Sun Country Airlines Holdings Inc. in a deal valued at approximately $1.5 billion, including Sun Country’s debt. The agreement was disclosed in a joint statement issued on Sunday, highlighting the strategic move by Allegiant to expand its operations through the acquisition.
The transaction involves a combination of cash and stock, details of which were not disclosed in full. The deal aims to integrate Sun Country Airlines’ fleet and routes with Allegiant’s low-cost travel offerings, potentially enhancing service options for customers of both carriers.
Sun Country Airlines, known for its leisure travel services, will become part of Allegiant’s broader network, which operates primarily in the United States. Industry analysts view the acquisition as a significant development in the U.S. airline sector, with potential implications for market competition and route offerings.
Completion of the deal is subject to regulatory approvals and routine closing conditions. Both companies indicated they expect the transaction to close in the coming months, after which Sun Country Airlines will operate as part of Allegiant Travel.