Sun Country Announces First Quarter Results

St. Paul, MN – May 9, 2006

Sun Country Airlines announced its first quarter results today, highlighted by a revenue increase of 15% from the same period last year to $76.5 million. Additionally, net income grew nearly 7% to $5.5 million, and passenger volume increased almost 7% to 531,867. 

“I’m extremely proud of Sun Country’s performance over the first quarter,” said Shaun Nugent, CEO of Sun Country. “Considering the state of the industry, these results are a strong indicator of the airline’s future and a testament to the remarkable effort the employees have put into the success of Sun Country.”

Jet fuel prices continue to adversely affect the industry, increasing 22.5% during the first quarter from an average of $1.60 per gallon in 2005 to $1.96 per gallon in 2006. Sun Country’s non-fuel costs per ASM (available seat mile, a key industry measurement) were virtually identical year over year. “Our goal is to maintain our non-fuel unit costs at or below 5.23 cents per ASM, and we are optimistic that we will achieve that objective,” Nugent said. 

The announcement of Sun Country’s first quarter performance comes on the heels of the airline’s induction into the Minneapolis/St. Paul Business Journal’s list of the top privately held companies in Minnesota. Sun Country was also named the fastest growing private company in Minnesota with 82.7% growth in revenue from 2002 to 2005. 

Sun Country Airlines is a low cost, low fare carrier based in St. Paul, MN. Sun Country, a privately held company, is following a conservative growth plan which will increase the frequency to its popular destinations such as New York, Washington, D.C., Los Angeles, Dallas/Ft. Worth, Orlando, Ft. Myers and Las Vegas. For a complete list of destinations and more information, please visit Sun Country's website at suncountry.com.