Sun Country Set To Emerge From Bankruptcy
MINNEAPOLIS (WCCO) — After 30 months in bankruptcy protection, the CEO of Sun Country Airlines is optimistic about the future.
“We had a record financial year last year in 2010 and we’re very excited to move forward,” said Sun Country President and CEO Stan Gadek.
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The Twin Cities-based airline ran into financial difficulty in the fall of 2008. Rising fuel costs and a Ponzi scheme involving the airline’s former owner pushed the airline in to bankruptcy.
“It validates the company has restructured successfully,” Gadek said.
Gadek says the airline has increased charter and military charter offerings as well as focused on customer service to return to profitability. Still, the airline industry is always challenging.
“The biggest concern continues to be the price of fuel,” Gadek said.
Through its hub at the Humphrey Terminal at Minneapolis-St. Paul International Airport, Sun Country has regular or seasonal service to cities across the U.S., Mexico, the Caribbean and London, England.