Sun Country Airlines Holdings, Inc. (SNCY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sun Country Airlines Holdings, Inc. (SNCY) emerge como un transportista dinámico y de bajo costo que revoluciona los viajes aéreos asequibles en los Estados Unidos. Al combinar estratégicamente los precios innovadores, las redes de rutas flexibles y los servicios centrados en el cliente, esta aerolínea con sede en Minneapolis ha tallado un nicho único en el mercado competitivo de la aviación. Sumérgete en el intrincado lienzo de modelo de negocio que revela cómo Sun Country transforma los viajes presupuestarios de un mero concepto a una realidad accesible, ofreciendo a los viajeros un valor sin precedentes sin comprometer la experiencia o la conveniencia.

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: asociaciones clave

Asociaciones de adquisición de aeronaves

Sun Country Airlines mantiene asociaciones estratégicas con fabricantes de aviones:

Fabricante	Tipo de aeronave	Tamaño de la flota (2023)
Boeing	737-800	39 aviones
Boeing	737 max 8	16 aviones

Colaboraciones de la plataforma de reserva de viajes

Las asociaciones clave de distribución de viajes en línea incluyen:

• Grupo de Expedia
• Kayac
• Priceline
• Orbitz

Airport Hub Partnerships

Minneapolis-St. Aeropuerto Internacional de Paul (MSP) sirve como centro principal con los siguientes detalles de la asociación:

Tipo de asociación	Volumen anual de pasajeros (2023)
Acuerdo operativo del aeropuerto	1,2 millones de pasajeros

Asociaciones de combustible y mantenimiento

Colaboraciones estratégicas de combustible y mantenimiento:

• Servicios mundiales de combustible
• EstandaryAero
• AAR Corp

Red de carga y logística

Detalles de colaboración de logística:

Socio de logística	Volumen de carga anual (2023)
Aire de Amazon	87,500 toneladas métricas

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: actividades clave

Transporte de la aerolínea de pasajeros de bajo costo

Volumen anual del pasajero: 3.5 millones (2022 datos) Tamaño de la flota: 48 aviones Red de ruta promedio: más de 100 destinos en Estados Unidos, México y Caribe

Métrico	Valor
Costo por milla de asiento disponible (CASM)	$0.0782 (2022)
Millas de pasajeros de ingresos (RPM)	4.2 mil millones (2022)

Operaciones de vuelo chárter

Ingresos de la carta: $ 78.4 millones (2022 año fiscal) Segmentos de vuelo chárter: equipos deportivos, viajes corporativos, viajes grupales

• Contratos de la carta militar
• Transporte profesional del equipo deportivo
• Cartas de eventos corporativos

Planificación de ruta de ocio y vacaciones

Cobertura de ruta de ocio: 35 destinos de ocio Asociaciones de paquetes de vacaciones: 12 agencias de viajes

Tipo de destino	Número de rutas
Destinos de playa	22
Rutas de escape de fin de semana	13

Mantenimiento de aeronaves y gestión de flotas

Costo de mantenimiento: $ 42.3 millones anuales Instalaciones de mantenimiento interna: 2 ubicaciones principales

• Boeing 737 Aeronave Mantenimiento especializado
• Implementación de tecnología de mantenimiento predictivo
• Procedimientos de mantenimiento certificados por la FAA

Precios dinámicos y optimización de ingresos

Ingresos por milla de asiento disponible (RASM): $ 0.129 (2022) Algoritmo de fijación de precios: modelo predictivo basado en el aprendizaje automático

Componente de estrategia de precios	Porcentaje de optimización
Ajuste de la demanda estacional	37%
Seguimiento de precios de la competencia	28%
Descuentos de compras anticipadas	22%

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: recursos clave

Flota de aviones Boeing 737

A partir del cuarto trimestre de 2023, Sun Country Airlines opera una flota de 52 aviones Boeing 737, con la siguiente composición:

Tipo de aeronave	Número de aviones
Boeing 737-800	33
Boeing 737 Max 8	19

Estratégico Minneapolis-St. Ubicación de Paul Hub

El centro principal de Sun Country se encuentra en Aeropuerto Internacional Minneapolis-Saint Paul (MSP), que sirve como un centro operativo crítico.

• Espacio total de la puerta del aeropuerto: 8 puertas dedicadas
• Tráfico anual de pasajeros a través de MSP Hub: aproximadamente 1.2 millones de pasajeros

Plataformas de reserva digital y servicio al cliente

Inversión de infraestructura digital para 2023:

Plataforma	Monto de la inversión
Desarrollo del sitio web	$ 2.3 millones
Aplicación móvil	$ 1.7 millones
Tecnología de servicio al cliente	$ 1.5 millones

Equipo experimentado de gestión de aerolíneas

Detalles clave del liderazgo ejecutivo:

• Experiencia de la industria promedio: 18.5 años
• Miembros del equipo ejecutivo total: 7
• Porcentaje con experiencia previa en gestión de aerolíneas: 85.7%

Infraestructura operativa rentable

Métricas de eficiencia operativa para 2023:

Métrico	Valor
Costo operativo por milla de asiento disponible (CASM)	$0.0782
Relación de eficiencia de combustible	42.3 millas de pasajeros por galón
Porcentaje de costo de mantenimiento	4.2% de los gastos operativos totales

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocio: propuestas de valor

Opciones de viaje de ocio y vacaciones asequibles

A partir del cuarto trimestre de 2023, Sun Country Airlines ofrece precios promedio de boletos que van desde $ 49 a $ 199 para rutas nacionales. Los ingresos de la aerolínea por milla de asiento disponible (RASM) fueron de $ 0.1059 en 2023, lo que indica estrategias de precios competitivas.

Tipo de ruta	Precio promedio de boleto	Volumen de pasajeros
Rutas de ocio domésticas	$89	1,2 millones de pasajeros en 2023
Rutas de destino de vacaciones	$129	850,000 pasajeros en 2023

Red de ruta flexible en los Estados Unidos

Sun Country opera vuelos a 54 destinos En todo Estados Unidos, con una red que cubre los principales mercados de ocio y vacaciones.

• Centro principal: el aeropuerto internacional de Minneapolis-Saint Paul
• Hubs secundarios: Denver, Las Vegas y Orlando
• Cobertura de ruta total: 54 destinos

Estrategias de precios competitivos

En 2023, la aerolínea mantuvo una tarifa promedio de $ 104, que es 30% más baja que los transportistas heredados comparables.

Métrico de fijación de precios	Valor 2023
Precio promedio de boleto	$104
Costo por milla de asiento disponible (CASM)	$0.0752

Convenientes servicios de vuelo directo y de conexión

Sun Country opera 700 vuelos semanales con una flota de 52 aviones Boeing a diciembre de 2023.

• Porcentaje de vuelo directo: 65%
• Porcentaje de vuelo de conexión: 35%
• Tiempo de conexión promedio: 1.2 horas

Experiencias de viaje personalizadas a tarifas económicas

La aerolínea generó $ 1.1 mil millones en ingresos totales para 2023, con un enfoque en los viajeros conscientes del presupuesto.

Ofrenda de servicio	2023 estadísticas
Ingresos auxiliares por pasajero	$42.50
Miembros del programa de fidelización	2.3 millones

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: relaciones con los clientes

Plataformas de reserva de autoservicio en línea

Sun Country Airlines ofrece capacidades de reserva digital a través de su sitio web suncountry.com, procesando aproximadamente el 85% de las reservas a través de canales en línea en 2023. La plataforma admite:

• Compras de boletos de avión
• Selección de asiento
• Complementos de equipaje
• Modificaciones de reserva

Métrica de reserva en línea	2023 rendimiento
Total de reservas en línea	4.2 millones
Tasa de conversión de reserva en línea	62.3%
Valor de transacción en línea promedio	$238

Atención al cliente de aplicaciones móviles

La aplicación móvil de Sun Country proporciona Características del servicio al cliente 24/7, con 1.1 millones de usuarios activos de aplicaciones en 2023.

Características de soporte de aplicaciones móviles	Porcentaje de uso
Registrarse	73%
Actualizaciones de estado de vuelo	68%
Acceso al pase de embarque	81%

Compromiso del programa de fidelización

Programa de lealtad de Sun Country, Espíritu libre, reportó 2.9 millones de miembros activos en 2023.

Métrica del programa de fidelización	2023 datos
Totales miembros activos	2.9 millones
Puntos redimidos	$ 42.3 millones
Gasto promedio de miembros	$ 512 anualmente

Canales de comunicación digital directa

Sun Country mantiene múltiples plataformas de comunicación digital:

• Marketing por correo electrónico: 4.5 millones de suscriptores
• Seguidores de redes sociales: 1.2 millones
• Tiempo de respuesta del chat de servicio al cliente: 8.2 minutos

Ofertas de marketing y promoción personalizados

Las campañas de marketing dirigidas generaron $ 18.6 millones en ingresos incrementales durante 2023.

Tipo de campaña de marketing	Tasa de conversión	Ingresos generados
Promociones de correo electrónico personalizadas	4.7%	$ 8.2 millones
Anuncios de redes sociales dirigidos	3.9%	$ 6.4 millones
Ofertas del programa de fidelización	5.3%	$ 4 millones

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: canales

Sitio web de la empresa

Sun Country Airlines opera Suncountry.com, que procesó el 87.3% de las reservas directas en 2022. Las características del sitio web incluyen:

• Reserva de vuelo en tiempo real
• Selección de tarifas
• Asignación de asiento
• Reservas de paquetes de vacaciones

Métrico del sitio web	Datos 2022
Visitas totales del sitio web	12.4 millones
Tasa de conversión	3.2%
Ingresos en línea	$ 487.3 millones

Aplicación móvil

La aplicación móvil de Sun Country admite:

• Reserva móvil
• Servicios de check-in
• Acceso al pase de embarque
• Seguimiento de vuelo

Módulo de aplicación móvil	Datos 2022
Descargas totales de aplicaciones	1.2 millones
Usuarios activos mensuales	380,000
Porcentaje de reserva móvil	22.6%

Plataformas de reserva de viajes en línea

Sun Country se asocia con múltiples plataformas en línea:

• Expedia
• Kayac
• Orbitz
• Priceline

Plataforma	Volumen de reservas	Participación de ingresos
Expedia	215,000 reservas	12.4%
Kayac	98,000 reservas	6.7%
Orbitz	76,000 reservas	4.9%

Asociaciones de agencia de viajes

Sun Country mantiene asociaciones con:

• Agencias de viajes corporativos
• Redes de viajes de ocio
• Especialistas en reservas grupales

Categoría de asociación	Total Socios	Volumen de reservas
Agencias corporativas	87	62,000 reservas
Redes de ocio	143	94,000 reservas

Centros directos de servicio al cliente

Sun Country opera centros de servicio al cliente con las siguientes métricas:

Métrico de servicio	Datos 2022
Volumen total de llamadas	1.6 millones de llamadas
Tiempo de manejo promedio	8.2 minutos
Tasa de satisfacción del cliente	88.3%

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: segmentos de clientes

Viajeros de ocio conscientes del presupuesto

Sun Country Airlines se dirige a viajeros de ocio conscientes del presupuesto con estrategias competitivas de precios. A partir del cuarto trimestre de 2023, la tarifa unidireccional promedio de la aerolínea era de $ 85, posicionándose como una opción de viaje asequible.

Características del segmento de clientes	Porcentaje de pasajeros totales
Viajeros de ocio presupuestarios	42%
Ingresos familiares promedio	$55,000 - $75,000
Rango de edad típico	25-44 años

Pasajeros de vacaciones y centrados en el destino

La aerolínea sirve a mercados de vacaciones clave con rutas directas a destinos populares.

• Los principales destinos de ocio incluyen Las Vegas, Orlando, Phoenix
• Cobertura de ruta estacional a los destinos de México y el Caribe
• 65% de los pasajeros Libros de paquetes de viaje centrados en el ocio

Viajeros nacionales sensibles a los precios

Sun Country se centra en los viajes nacionales rentables dentro de los Estados Unidos.

Métricas de ruta doméstica	2023 datos
Rutas nacionales totales	53
Porcentaje de pasajeros nacionales	78%
Precio promedio de boletos nacionales	$92

Viajeros de negocios que buscan opciones asequibles

El segmento de viajeros de negocios representa un mercado en crecimiento para Sun Country.

• Opciones de reserva flexibles para cuentas corporativas
• 15% de los pasajeros clasificados como viajeros de negocios
• Precio promedio de boletos de viajeros de negocios: $ 129

Pasajeros de vuelo estacionales y ocasionales

La aerolínea atiende a los pasajeros con necesidades de viaje intermitentes.

Métricas de viajes estacionales	Datos anuales
Pasajeros de la temporada de viajes pico	38%
Pasajeros de viaje fuera de pico	22%
Frecuencia de los viajeros ocasionales	1-2 viajes por año

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocio: Estructura de costos

Alquiler de aeronaves y gastos de mantenimiento

A partir de la información financiera de 2023, Sun Country Airlines reportó gastos de arrendamiento de aeronaves totales de $ 96.7 millones. Los costos de mantenimiento para la flota fueron de aproximadamente $ 53.4 millones anuales.

Categoría de costos	Cantidad anual (USD)
Gastos de arrendamiento de aviones	$96,700,000
Costos de mantenimiento de aeronaves	$53,400,000

Costos de combustible y operativo

Los gastos de combustible para Sun Country Airlines en 2023 totalizaron $ 167.2 millones. Los costos operativos relacionados con las operaciones de vuelo fueron de $ 218.5 millones.

• Costo de combustible para aviones por galón: $ 2.85
• Consumo anual de combustible: 58.7 millones de galones

Salario de empleados y capacitación

La compensación total de empleados de Sun Country Airlines en 2023 fue de $ 252.6 millones. Los gastos de capacitación y desarrollo fueron de $ 8.3 millones.

Categoría de costos de personal	Cantidad anual (USD)
Salario total de empleados	$252,600,000
Gastos de capacitación	$8,300,000

Marketing y adquisición de clientes

Los gastos de marketing para Sun Country Airlines en 2023 fueron de $ 22.1 millones. Los costos de adquisición de clientes fueron de aproximadamente $ 14.6 millones.

Tecnología e inversiones en infraestructura digital

Las inversiones en tecnología totalizaron $ 17.5 millones en 2023, con un gasto en infraestructura digital en $ 6.9 millones.

• IT Investible de infraestructura: $17,500,000
• Desarrollo de plataforma digital: $6,900,000

Sun Country Airlines Holdings, Inc. (SNCY) - Modelo de negocios: flujos de ingresos

Venta de entradas para pasajeros

Para el año fiscal 2023, Sun Country Airlines reportó ingresos operativos totales de $ 1.2 mil millones. Los ingresos por boletos de pasajeros representaron aproximadamente el 75% de los ingresos totales, lo que se traduce en aproximadamente $ 900 millones.

Categoría de ingresos	Cantidad (2023)	Porcentaje de ingresos totales
Venta de entradas para pasajeros	$ 900 millones	75%

Ingresos de tarifas de equipaje

Las tarifas de equipaje generaron aproximadamente $ 120 millones en 2023, lo que representa el 10% de los ingresos operativos totales de la aerolínea.

Detalles de la tarifa de equipaje	Cantidad (2023)
Primera tarifa de bolsa revisada	$30
Segunda tarifa de bolsa revisada	$40
Ingresos de tarifas totales de equipaje	$ 120 millones

Cargos de servicio auxiliar

Los servicios auxiliares contribuyeron con aproximadamente $ 90 millones a los ingresos de la compañía en 2023.

• Tarifas de selección de asiento
• Venta de comidas en vuelo
• Cargos de embarque prioritarios
• Ventas de seguro de viaje

Operaciones de vuelo chárter

Los ingresos por vuelos chárter para 2023 fueron de aproximadamente $ 60 millones, lo que representa el 5% de los ingresos operativos totales.

Servicios de transporte de carga y carga

El transporte de carga generó aproximadamente $ 30 millones en ingresos durante 2023, lo que representa el 2.5% de los ingresos operativos totales.

Flujo de ingresos	Cantidad (2023)	Porcentaje de ingresos totales
Venta de entradas para pasajeros	$ 900 millones	75%
Tarifas de equipaje	$ 120 millones	10%
Servicios auxiliares	$ 90 millones	7.5%
Vuelos chárter	$ 60 millones	5%
Transporte de carga	$ 30 millones	2.5%

Sun Country Airlines Holdings, Inc. (SNCY) - Canvas Business Model: Value Propositions

You're looking at the core value Sun Country Airlines Holdings, Inc. (SNCY) delivers to its customers and stakeholders as of late 2025. It's a hybrid approach, balancing the low-cost model with high-margin contract flying.

Low-cost fares for leisure and VFR (Visiting Friends and Relatives) travel

Sun Country Airlines Holdings, Inc. (SNCY) commits to providing affordable travel options, especially for leisure and VFR passengers flying out of its Minneapolis-St. Paul International Airport (MSP) hub. This is evident in the scheduled service fare metrics reported through the third quarter of 2025. The total fare per scheduled passenger for the third quarter of 2025 was $143, representing a 1.1% increase year-over-year. For the second quarter of 2025, the total fare per scheduled passenger was $151, which was 6.5% higher than the second quarter of 2024. Revenue per available seat mile (TRASM) for scheduled service in Q3 2025 was 10.6 cents, up 1.6% from the prior year's third quarter. Still, the low-fare positioning is visible in advertised deals; for instance, a one-way flight from MSP to Boston (BOS) was advertised at $89 for Summer 2025.

You can see the low-end pricing in action with some of the featured deals from MSP:

• MSP to Nashville (BNA) from $59.
• MSP to Las Vegas (LAS) from $69.
• MSP to Phoenix (PHX) from $72.
• MSP to Fort Myers (RSW) from $79.

High-margin, stable, contracted cargo and charter services

The stability and higher margin come from the synergistic cargo and charter businesses, which insulate the company somewhat from passenger yield volatility. Cargo and charter combined generated 40% of total revenue in the third quarter of 2025. Cargo revenue specifically saw substantial growth, reaching $44 million in the third quarter of 2025, a 50.9% increase versus the third quarter of 2024. Charter revenue was $58.7 million in Q3 2025, marking a 15.6% year-over-year increase.

Here's a look at the revenue breakdown and fleet allocation supporting this dual model through the first half of 2025:

Metric	Q2 2025 Value	Q3 2025 Value	Change/Note
Total Revenue	$264 million	$255.5 million	Q2 up 3.6% YoY
Cargo Revenue	$35 million	$44 million	Q2 up 36.8% YoY
Charter Revenue	$54 million	$58.7 million	Q3 up 15.6% YoY
Passenger Fleet Aircraft	45 (as of June 30, 2025)	45 (as of September 30, 2025)	Passenger ASMs down 10.2% in Q3
Cargo Fleet Freighter Aircraft	19 (as of June 30, 2025)	20 (as of September 30, 2025)	Cargo block hours up 33.7% in Q3

The company's total liquidity on September 30, 2025, stood at $299 million.

Seasonal flexibility by reallocating shared aircraft resources

Sun Country Airlines Holdings, Inc. (SNCY) dynamically deploys shared aircraft resources across its scheduled, charter, and cargo businesses. This flexibility is demonstrated by the intentional reduction in scheduled passenger capacity to accommodate cargo segment growth. For the second quarter of 2025, scheduled service Available Seat Miles (ASMs) decreased 6.2% year-over-year to support cargo and charter flying. This trend continued into the third quarter, where scheduled service ASMs fell by 10.2% year-over-year. Looking forward, scheduled service ASMs are projected to decline in the fourth quarter of 2025 by approximately 8 to 9% year-over-year to annualize the cargo segment growth. This reallocation is key to maximizing asset utilization across the different business lines.

Nonstop service to popular, sun-belt destinations from Minneapolis

The airline focuses on offering nonstop, affordable travel from its MSP hub to leisure markets, including sun-belt destinations, often extending seasonal routes. Sun Country Airlines is noted to offer weekly flights from MSP to Miami (MIA) and Sarasota (SRQ), extending this service into the summer of 2025, past the typical seasonal end. The Summer 2025 schedule was planned to offer more flight options to its most popular leisure markets. Popular sun-belt and warm-weather destinations served nonstop from MSP include:

• Fort Myers (RSW)
• Orlando (MCO)
• Phoenix (PHX)
• Las Vegas (LAS)
• Tampa (TPA)
• Miami (MIA)

Through Summer 2025, Sun Country Airlines planned to operate 116 routes serving 102 airports.

Sun Country Airlines Holdings, Inc. (SNCY) - Canvas Business Model: Customer Relationships

For Sun Country Airlines Holdings, Inc. (SNCY), customer relationships are segmented across high-touch dedicated service for large contracts and highly automated, transactional interactions for the leisure scheduled service base. The airline's strategy in late 2025 clearly shows a pivot to bolster loyalty and digital engagement while maintaining the stability provided by its charter and cargo clients.

Transactional model for scheduled service bookings

The vast majority of Sun Country Airlines' individual passenger relationships operate on a transactional basis, driven by direct bookings through their digital channels. This model relies on efficiency and competitive pricing to drive volume, though unit revenue management is critical given the capacity shifts. For instance, in the third quarter of 2025, the scheduled service load factor stood at a strong 84.8%, an increase of 0.6 percentage points year-over-year, on 997,947 revenue passengers carried. You can see how the unit revenue metrics trended across the first three quarters of 2025 right here:

Metric (Scheduled Service)	Q1 2025	Q2 2025	Q3 2025
TRASM (cents)	11.63	10.40	10.6
Total Fare per Passenger	$198	$151	$143
YoY Total Fare Change	1.0% increase	6.5% increase	1.1% increase
YoY TRASM Change	4.7% decrease	3.7% increase	1.6% increase

The quick math shows that while the average fare per passenger was highest in Q1 at $198, the unit revenue (TRASM) saw its best year-over-year improvement in Q2 at 3.7%, indicating pricing power was strongest then, despite the lowest average fare of $151 in that quarter. Still, by Q3, the focus on yield improvement was evident with a 1.6% YoY TRASM increase.

Dedicated account management for charter and cargo clients

For charter and cargo clients, the relationship is high-touch, managed through dedicated service to support long-term contracts, most notably with Amazon Air. This diversified revenue stream provided a stable foundation, generating approximately 40% of total revenue in the third quarter of 2025. The cargo segment saw massive growth, with Q3 2025 cargo revenue reaching $44 million, a 50.9% increase versus Q3 2024, supported by a fleet of 20 freighter aircraft as of September 30, 2025. Charter revenue also showed solid growth, hitting $58.7 million in Q3 2025, marking a 15.6% year-over-year increase.

• Cargo block hours increased by 33.7% in Q3 2025.
• Charter block hours increased by 11.1% in Q3 2025.
• Q2 2025 saw cargo revenue at $35 million and charter revenue at $54 million.
• Q1 2025 cargo revenue was $28 million and charter revenue was $55 million.

These figures demonstrate that the cargo segment is the primary driver of revenue acceleration, which requires close, dedicated account management to service the Amazon contract rates that began going into effect in June 2024.

Loyalty program enhancements via new credit card partner

Sun Country Airlines Holdings, Inc. (SNCY) made a significant move to deepen transactional relationships by launching the Sun Country Visa Signature® credit card in partnership with Synchrony Bank in September 2025. This launch was immediately coupled with the introduction of the Sun Country Rewards Plus Status tier, designed to convert high-frequency flyers and high spenders into more committed members. If onboarding takes 14+ days, churn risk rises, but the structure here is clear.

• Plus Status is earned by flying 10 qualifying flights or spending $10,000 on the co-branded Visa card in a calendar year.
• Benefits include earning 1 additional point per dollar on flights booked via the mobile app or website.
• Cardholders also receive a Complimentary Flexible Fare benefit.
• Status grants Priority Boarding (Zone 1) and Priority Check-In access.

This structure directly ties the most valuable relationship benefits to the use of the co-branded card, making the financial product a key relationship retention tool.

Digital self-service tools like the new mobile app

The airline's investment in digital self-service tools is central to managing the high volume of transactional customers efficiently. The new mobile app, which launched in May 2024, serves as the primary digital touchpoint for day-of-travel management. Jim Stathopoulos, Senior Vice President & Chief Information Officer, is overseeing the execution of IT systems that support this digital focus. The app is designed to be a one-stop-shop for customers to manage their entire journey on-the-go.

• Check-in is available between one and 24 hours prior to departure.
• Users can download their mobile boarding pass to skip ticket counter lines.
• Trip management features allow customers to add bags, select seats, or adjust flights.
• The app provides easy access to Sun Country Rewards account information.

Furthermore, in 2023, Sun Country Airlines introduced automated self-service digital tools for customers facing extended delays, simplifying the process for receiving digital hotel/meal vouchers or processing refunds.

Finance: draft 13-week cash view by Friday.

Sun Country Airlines Holdings, Inc. (SNCY) - Canvas Business Model: Channels

You're looking at how Sun Country Airlines Holdings, Inc. (SNCY) gets its product-seats on planes and cargo space-into the hands of customers as of late 2025. The channel strategy clearly leans on a mix of direct-to-consumer digital sales and high-touch contract sales for its specialized businesses.

Direct sales via Sun Country Airlines website and mobile app

The digital storefront is key for the scheduled service. Travelers use the Sun Country Airlines website or the Fly Sun Country mobile app to book, where they can select from Main Cabin, Comfort+, Premium Select, and First Class. While the exact split isn't public, the performance of the scheduled service reflects the effectiveness of these direct channels. For instance, in the third quarter of 2025, the total fare per scheduled passenger was $143, showing pricing power even as Available Seat Miles (ASMs) declined. Also, September 2025 saw a strong load factor of 83% with total fares up 4.5% year-over-year, suggesting customers are booking and filling seats effectively through these primary interfaces. You can book travel through the extended selling schedule, which runs through December 9, 2025, as of early 2025 filings.

Online Travel Agencies (OTAs) for scheduled service

OTAs are certainly part of the mix for the scheduled passenger business, which is the traditional airline channel. However, the strategic focus in 2025 has been on managing capacity in this segment to support cargo growth. Scheduled service ASMs in the third quarter of 2025 were down 10.2% year-over-year. This capacity reduction suggests a deliberate choice to prioritize higher-margin or more stable revenue streams over maximizing every available seat through all channels, including OTAs.

Dedicated sales teams for Charter and Cargo contracts

This is where Sun Country Airlines really diversifies its channel approach, relying on dedicated teams to secure large, predictable contracts. These two segments combined generated around 40% of the total revenue in the third quarter of 2025. The growth here is phenomenal, driven by direct contract negotiation, notably with Amazon for cargo.

Here's a quick look at the contract channel performance for Q3 2025:

Channel Metric	Charter (Q3 2025)	Cargo (Q3 2025)
Revenue Amount	$58.7 million	$44 million
Year-over-Year Growth	15.6%	50.9%
Block Hour Growth	11.1%	33.7%

The cargo segment's growth was supported by the completion of its freighter fleet expansion, ending Q3 2025 with 20 cargo aircraft in service.

Major US airports, including Minneapolis-St. Paul (MSP) hub

The physical presence is anchored by the headquarters and primary hub operations at Minneapolis-St. Paul International Airport (MSP). Sun Country Airlines positions itself as the leisure airline of choice at MSP. The network scale as of early 2025 included operating 116 routes serving nearly 100 airports across the United States, Mexico, Central America, Canada, and the Caribbean. The airline planned to serve approximately 100 destinations in 2025. The channel strategy at MSP involves optimizing the route mix; for example, five seasonal routes from MSP were paused for summer 2025 to focus capacity on the scaling cargo operations.

The fleet supporting these channels as of March 31, 2025, consisted of:

• 45 aircraft in the passenger service fleet.
• 15 freighter aircraft in the cargo fleet.

The expectation was to end 2025 with 45 passenger aircraft and 20 cargo aircraft.

Sun Country Airlines Holdings, Inc. (SNCY) - Canvas Business Model: Customer Segments

You're looking at Sun Country Airlines Holdings, Inc. (SNCY) and seeing a carrier that has strategically layered high-volume, contract-based revenue streams on top of its traditional leisure flying. This diversification is what earned them the Air Transport World Airline Industry Achievement Market Leader Award of 2025. Honestly, the scheduled passenger business is being deliberately managed-or pulled back-to feed the growth in the other two segments. Here's the quick math: Cargo and Charter combined generated $\mathbf{40\%}$ of total revenue in the third quarter of 2025, which is their highest contribution since late 2020.

Leisure and VFR passengers seeking low-cost, nonstop flights

This group forms the foundation of Sun Country Airlines Holdings, Inc.'s Scheduled Service segment, catering to the low-cost, nonstop travel need, especially to leisure spots. However, capacity discipline is the theme for 2025. You see this in the operational shifts; Scheduled service block hours decreased by $\mathbf{10.9\%}$ in the third quarter of 2025 to support the cargo expansion. The airline is prioritizing pricing power over sheer volume in this segment for now. For instance, the total fare per scheduled passenger in Q3 2025 was $\mathbf{\$143}$, which was $\mathbf{1.1\%}$ higher than the prior year, even as the load factor only ticked up $\mathbf{0.6}$ percentage points.

The unit revenue metric, Scheduled service TRASM (Total Revenue per Available Seat Mile), came in at $\mathbf{10.6}$ cents in Q3 2025. Management expects this capacity reallocation to provide a tailwind for scheduled service unit revenues through at least the first quarter of 2026, with scheduled service operations anticipated to resume growth around the second quarter of 2026. As of September 30, 2025, the passenger service fleet stood at $\mathbf{45}$ aircraft.

• Scheduled service ASMs (Available Seat Miles) fell $\mathbf{10.2\%}$ year-over-year in Q3 2025.
• Scheduled service ASMs are projected to decline by approximately $\mathbf{8}$ to $\mathbf{9\%}$ year-over-year in the fourth quarter of 2025.
• The airline plans to expand the passenger fleet to $\mathbf{50}$ aircraft by 2027.

Corporate, government, and sports teams (Charter clients)

The Charter segment provides a stable, high-margin counterbalance to the more cyclical leisure market. This business saw solid growth across the first three quarters of 2025. In the third quarter alone, charter revenue hit $\mathbf{\$58.7}$ million, marking a $\mathbf{15.6\%}$ year-over-year increase. What's telling is that this revenue growth outpaced the $\mathbf{11.1\%}$ increase in charter block hours, suggesting better pricing or utilization within those contracts. To give you a quarter-over-quarter view of this segment's strength:

Period Ended	Charter Revenue (Millions USD)	Year-over-Year Growth
March 31, 2025 (Q1)	$55.0	15.6%
June 30, 2025 (Q2)	$54.0	6.4%
September 30, 2025 (Q3)	$58.7	15.6%

This segment is definitely a key component of the diversified model you're analyzing.

Amazon (primary, high-volume Cargo customer)

This is the growth engine. Sun Country Airlines Holdings, Inc. completed its cargo segment transformation in the third quarter of 2025 by deploying its full complement of $\mathbf{20}$ Boeing 737-800 freighter aircraft for Amazon. This fleet size represents a $\mathbf{14\%}$ expansion in the total operating aircraft compared to the start of the year. The results are clear: Q3 2025 cargo revenue surged $\mathbf{50.9\%}$ year-on-year to $\mathbf{\$44}$ million, driven by both the increased aircraft count and new Amazon contract rates that went into effect in mid-2024. The company projects that with the expanded fleet and rate increases, annual cargo revenue will double to approximately $\mathbf{\$215}$ million per year.

The operational commitment to Amazon is significant:

• Cargo block hours increased $\mathbf{33.7\%}$ in Q3 2025.
• The cargo fleet reached $\mathbf{20}$ freighters as of September 30, 2025.
• Cargo revenue was $\mathbf{\$28}$ million in Q1 2025, growing to $\mathbf{\$35}$ million in Q2 2025.

The amended contract with Amazon runs through 2030, with options extending through 2037, securing this high-volume customer base for the long haul.

Other airlines leasing Sun Country aircraft

A smaller, but still relevant, component of the revenue mix comes from leasing out excess or temporarily unutilized aircraft. As of September 30, 2025, Sun Country Airlines Holdings, Inc. had $\mathbf{5}$ aircraft on lease to unaffiliated airlines. For context, this number was $\mathbf{6}$ aircraft at the end of the first quarter on March 31, 2025. This leasing activity contributes to the Other Revenue line item, which totaled $\mathbf{\$26.8}$ million for the nine months ended September 30, 2025. You should note that management expected this Other Revenue to reduce by approximately $\mathbf{33\%}$ versus Q2 2025 due to a decrease in these lease arrangements.

Sun Country Airlines Holdings, Inc. (SNCY) - Canvas Business Model: Cost Structure

The cost structure for Sun Country Airlines Holdings, Inc. (SNCY) is heavily weighted toward variable expenses, typical of an airline, though the overall structure aims for the lower fixed-cost profile associated with its Ultra Low-Cost Carrier (ULCC) model positioning.

Variable Costs and Fuel Exposure

• Aircraft fuel cost per gallon was projected at $2.61 for the third quarter of 2025 guidance.
• The actual economic fuel cost per gallon for the third quarter of 2025 was reported at $2.55.
• For the fourth quarter of 2025, the projected economic fuel cost per gallon was $2.50.
• Total operating expenses in Q3 2025 grew 3.6% year-over-year, aligned with a 3.8% increase in total block hours.

Labor and Personnel Expenses

Labor costs represent a significant component, reflecting headcount growth and new contractual agreements. Salaries, wages, and benefits increased by 15.0% year-over-year in the third quarter of 2025. This increase was mainly driven by:

• Growth in the number of pilots.
• A contractual pilot wage scale increase effective from the start of the year.
• The new flight attendant contract that went into effect in March 2025.

In the first quarter of 2025, salaries had grown 12.9% year-over-year, attributed to an 8% increase in pilot headcount and a 6% contractual pilot wage scale increase.

Aircraft Ownership and Maintenance

Costs related to the fleet include both fixed charges like rent and depreciation, and variable maintenance costs that spiked recently.

Cost Component	Period/Reference	Amount/Rate
Maintenance Expense Increase (YoY)	Q3 2025	13.5%
Leased Aircraft, Depreciation & Amortization Expense	Q2 2025 (Quarterly)	$3.1 million
Rental Revenue from Assets on Lease	Q3 2025 (Quarterly)	Approx. $7.1 million

The 13.5% year-over-year increase in maintenance expense for the third quarter of 2025 was mainly due to the occurrence of unplanned maintenance events. Management noted that heavy maintenance costs are being pulled forward into Q4 2025 from 2026.

Fixed Cost Structure Elements

Sun Country Airlines Holdings, Inc. operates with a stated low fixed-cost structure, which is a key element of its ULCC approach, allowing for flexibility in capacity deployment between its scheduled, charter, and cargo segments. However, certain costs are fixed or semi-fixed:

• Landing fees and airport rent increased by 9.1% in Q2 2025 due to rate increases at airports.
• Total system Adjusted CASM (Cost per Available Seat Mile) ex-fuel for Q3 2025 was 8.46 cents.
• The GAAP operating margin for Q3 2025 was 3.9%.

Sun Country Airlines Holdings, Inc. (SNCY) - Canvas Business Model: Revenue Streams

You're looking at how Sun Country Airlines Holdings, Inc. (SNCY) actually brings in the cash flow as of late 2025. It's a hybrid model, leaning heavily on specialized contracts alongside traditional flying. Here's the quick math on the revenue streams based on the third quarter of 2025 results.

The total revenue for Sun Country Airlines Holdings, Inc. in the third quarter of 2025 hit $255.5 million, marking their highest third quarter on record. This revenue is strategically diversified, with the cargo and charter segments combined accounting for 40% of that total revenue for the quarter. This mix is key to stabilizing results while the scheduled service capacity was intentionally reduced to support cargo growth.

The revenue streams break down across several key areas:

Revenue Stream Component	Q3 2025 Amount/Metric	Year-over-Year Change
Cargo Service Revenue	$44 million	Up 50.9%
Charter Service Revenue	$58.7 million	Up 15.6%
Other Revenue (Aircraft Lease Income Portion)	$7.1 million (Lease Income)	Down from $10.1 million in Q3 2024

Scheduled Service revenue is still a core component, though capacity was shifted. For the scheduled service, the total fare per scheduled passenger in the third quarter of 2025 was $143. This is an important metric because Scheduled Service TRASM (Total Revenue per Available Seat Mile) showed an inflection, increasing 1.6% overall for the quarter, with September performance showing an increase of over 7%.

For the specialized segments, the growth has been substantial. Cargo revenue reached $44 million in Q3 2025, a 50.9% increase year-over-year, driven by all 20 cargo aircraft being in service for Amazon by late August. Charter revenue also saw strong growth, coming in at $58.7 million, which represents a 15.6% year-over-year increase.

The ancillary revenue component, which covers things like bags and seat selection, is bundled into the Scheduled Service TRASM calculation along with scheduled service revenue itself. What this estimate hides is the precise dollar amount of ancillary revenue separate from the base fare. Other Revenue also includes rental income from assets, with the aircraft lease income portion specifically noted at approximately $7.1 million for the three months ended September 30, 2025.

You can see the composition of the passenger-related revenue streams:

• Scheduled Service total fare per passenger: $143 (Q3 2025)
• Charter revenue: $58.7 million (Q3 2025)
• Charter block hours increase: 11.1% YoY
• Scheduled service ASMs (Available Seat Miles) decrease: 10.2% in Q3 2025