Sun Country Airlines Holdings, an American ultra-low-cost passenger and cargo airline, raised $218 million by offering 9.1 million shares at $24, above the range of $21 to $23.
The previous airline IPO was Mesa Air Group in August 2018. After sinking in early 2020 at the onset of the pandemic, Mesa and other airline stocks have outperformed year-to-date as vaccinations and air travel pick up in the US.
Sun Country was bought by Apollo Group in 2018.
Sun Country Airlines Holdings plans to list on the Nasdaq under the symbol SNCY. Barclays, Morgan Stanley, Deutsche Bank, Goldman Sachs and Nomura Securities acted as lead managers on the deal.
