How Africa's Leading National Airline Broke A Decade-Long Unprofitable Streak [Forbes]
Sun Country Airlines Holdings, Inc. (SNCY)
Company Research
Source: Forbes
Kenya Airways is part of SkyTeam aviation alliance. (Photo by Nicolas Economou/NurPhoto via Getty Images) Kenya Airways, one of Africa's largest airlines, posted a half-year profit for the first time in eleven years, breaking a losing streak that pushed the debt-burdened carrier to the brink of bankruptcy. Two factors have driven its return to profitability: the rebound of Kenya's national currency, the shilling, and the Kenyan government's takeover of the airline's loan obligations. Between January and June this year, Kenya Airways made a profit after tax of $4 million (513 million Kenyan shillings), recovering from a loss of $168 million recorded over the same period in 2023. This amount marks the airline's first half-year earnings since 2013, when it recorded an after-tax profit of $3 million. Over the same period, revenue has increased by 68%, reaching a record $710 million in the first six months of 2024. "The impressive performance reaffirms the operational viability of ou
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News
- Sun Country Airlines Will Participate in the Barclays 42nd Annual Industrial Select Conference [Yahoo! Finance]Yahoo! Finance
- Sun Country Airlines Will Participate in the Barclays 42nd Annual Industrial Select ConferenceGlobeNewswire
- Sun Country Airlines Holdings, Inc. Announces Pricing of Secondary Public Offering of Common Stock and Concurrent Share RepurchaseGlobeNewswire
- Sun Country Airlines Holdings, Inc. Announces Launch of Secondary Public Offering of Common Stock and Concurrent Share RepurchaseGlobeNewswire
- Sun Country expects to double cargo revenue with Amazon fleet additions [Yahoo! Finance]Yahoo! Finance
SNCY
Earnings
- 2/4/25 - Beat
SNCY
Sec Filings
- 2/14/25 - Form SCHEDULE
- 2/14/25 - Form 4
- 2/14/25 - Form 4
- SNCY's page on the SEC website