AS VEGAS and MINNEAPOLIS – (PRNewswire) – Allegiant (NASDAQ: ALGT) and Sun Country Airlines
(NASDAQ: SNCY) today announced a definitive merger agreement under which Allegiant will acquire
Sun Country in a cash and stock transaction at an implied value of $18.89 per Sun Country share. Sun
Country shareholders will receive 0.1557 shares of Allegiant common stock and $4.10 in cash for each
Sun Country share owned, representing a premium of 19.8% over Sun Country’s closing share price of
$15.77 on January 9, 2026, and 18.8% based on the 30-day volume-weighted average price. The
transaction values Sun Country at approximately $1.5 billion, inclusive of $0.4 billion of Sun Country’s net
debt. Upon closing, Allegiant and Sun Country shareholders will own approximately 67% and 33%,
respectively, of the combined company on a fully diluted basis.
The combination will create a leading leisure-focused U.S. airline, expanding service to more popular
vacation destinations across the United States, as well as international destinations, and providing more
people with access to affordable, convenient air travel. Allegiant and Sun Country are well positioned to
create one of the most adaptable and resilient airline models in the industry, with the ability to respond
quickly to changing market conditions, traveler demand, and charter and cargo partner needs. The
combination of two financially strong leisure carriers in the U.S. will create benefits for customers,
communities, employees, and partners by enhancing stability, expanding opportunities, and enabling
continued investment and innovation.
Gregory C. Anderson, Allegiant CEO, said, “This combination is an exciting next chapter in Allegiant and
Sun Country’s shared mission in providing affordable, reliable, and convenient service from underserved
communities to premier leisure destinations. We have long admired Sun Country for their well-run,
flexible, and diversified business model that optimizes for year-round utilization and strong margins.
Together, our complementary networks will expand our reach to more vacation destinations including
international locations. With our combined strengths– including operational excellence, consistent
profitability, strong balance sheets, and fleet ownership, we will create an even more resilient and agile
airline that delivers greater value to travelers, partners, Team Members, shareholders, and the
communities we serve.”
Jude Bricker, Sun Country President & CEO, said, “Over Sun Country’s 43-year history, we have grown
to become one of the nation’s most respected low-cost, leisure airlines with a unique business model for
serving scheduled service and charter passengers as well as delivering cargo, with a strong brand and
deep roots in Minnesota. Today marks an exciting next step in our history as we join Allegiant to create
one of the leading leisure travel companies in the U.S. We are two customer-centric organizations, deeply
committed to delivering affordable travel experiences without compromising on quality. Importantly, we
believe this transaction delivers significant value to Sun Country shareholders and an opportunity to
continue to benefit from our growth plans as a combined company.”
A Shared Commitment to Affordable Leisure Travel for Our Combined 22 Million Annual
Passengers
Both Allegiant and Sun Country have built their businesses with a focus on connecting travelers to the
places they love, with a commitment to value, convenience, and customer choice. The combined airline
will offer:
Complementary footprint provides more destinations, more often: The combination brings
together complementary route networks across Allegiant’s small and mid-sized localities and Sun
Country’s larger cities and will provide more than 650 routes, including 551 Allegiant routes and
105 Sun Country routes. This combination will connect MSP to Allegiant’s mid-sized markets, and
expand nonstop service to popular vacation spots, with a continued focus on underserved
markets across the U.S. while expanding opportunities into international locations.
Expanded international service: With access to Sun Country’s vast international network
across Mexico, Central America, Canada, and the Caribbean, the combined airline will offer
Allegiant customers access to expanded service from its small and mid-sized cities to 18
international destinations.
Greater scheduling agility, improved reliability, and dynamic route planning enhance on-
time performance: Integrated scheduling and fleet management will enhance on-time
performance. The combined airline’s flexible capacity will match demand during peak leisure
travel seasons and days of the week, while leveraging year-round charter and cargo operations to
maximize profitability. By rapidly adjusting and expanding passenger and charter routes to
support emerging vacation trends and expertly matching demand trends, the combined company
can better service underserved markets and meet charter and cargo customer demands.
Enhanced loyalty rewards program: Expanded frequent flyer and membership benefits,
combining the best of both airlines’ programs. Adding Sun Country’s more than 2 million
members to Allegiant’s 21 million member base further enhances the relevance of the combined
program, driving greater customer rewards.
Opportunities for Our Teams Flying Together
Allegiant and Sun Country share cultures rooted in respect, teamwork, and opportunity, where employees
are empowered to grow their careers and contribute to a mission they believe in: connecting communities
and helping travelers reach the places they love. As part of a leading leisure-focused airline, employees
will have increased opportunities, including:
Career growth: A larger network and fleet will create new roles, advancement opportunities, and
cross-training possibilities across the combined airline.
Shared culture of service: Both airlines’ emphasis on safety, hospitality, and affordable leisure
travel will remain central to training, operations, and customer care.
Seasonal stability: In addition to expanded leisure travel opportunities, the combined airline’s
diversified operations, including Sun Country’s long-term charter contracts and cargo
partnerships, will create more year-round flying opportunities for pilots, crews, and operations
personnel. This stability supports career growth, cross-training, and operational efficiency across
the network.
Employee engagement: Continued investment in programs that support professional
development and recognition of team member contributions.
Allegiant and Sun Country will work closely with employees and their unions — including pilots, flightattendants, mechanics, ground staff, and dispatchers — to ensure a smooth and transparent integrationprocess. Existing collective bargaining agreements will remain in effect, and the companies will follow all processes required under the Railway Labor Act. Both companies share a goal to support employeesthroughout the transition, creating a unified team for the future.