Sun Country Airlines will acquire five Boeing 737-900ERs from late 2024 through 2025. The carrier will takeover current leases for the aircraft which will remain on lease with Oman Air until the leases begin to expire from late 2024.
On Tuesday (April 4, 2023), Sun Country Airlines announced that they will acquire five Boeing 737-900ERs from late 2024 through 2025. The airline will acquire current leases for the airplanes which will remain on lease to Oman Air until the leases begin to expire from late 2024. Sun Country expects to take delivery of one aircraft by the end of 2024 and the remaining four in 2025. The carrier will deploy capital now to purchase the aircraft and will receive lease revenue from Oman Air through 2025. The 737-900ER has more seat capacity than the carrier’s current fleet of 737-800s and can fly a longer range.
In Tuesday’s announcement, Sun Country Airline’s CEO, Jude Bricker, said,
“The 737-900ER will be a great addition to our fleet. Relative to our 737-800 aircraft, it will increase the number of seats without a reduction in range or take-off performance. This transaction demonstrates our ability to find creative ways to source the right aircraft in any market environment.”
Since pre-owned aircraft induction lead times have been challenges by supply chain constraints and engineering support, Sun Country believes the way the transaction is structured will allow them to minimize the transition time of modifying and placing the aircraft into passenger revenue service. The aircraft purchases will be financed through a credit facility with MUFG Union Bank.
Sun Country Airlines (NASDAQ: SNCY) is a new breed of hybrid low-cost carrier founded in 1983 by a small group of pilots and flight attendants. The award winning Minneapolis-St. Paul based airline has distinguished itself as a leader in leisure travel over their 40 years of service. Sun Country offers low fares and safe, reliable, nonstop service across the U.S., Mexico, Central America, Canada and the Caribbean. Additionally, the carrier offers services through their Sun Country Charters and Sun Country Vacations divisions, and also operates cargo CMI services for Amazon.
Source: Sun Country Airlines