Apollo Global Management is selling the 6.34 million shares of common stock it owns in Sun Country Airlines (SY, Minneapolis St. Paul International), which represents about 12% of the company, the airline notified in a filing to the US Securities and Exchange Commission (SEC).

In a prospectus dated February 10, 2025, parent Sun Country Airlines Holdings, Inc. announced the secondary public offering of the shares offered by Apollo Global Management, Inc., through SCA Horus Holdings, LLC.

Additionally, the carrier authorised the repurchase of about USD10 million worth of these shares from Apollo, funded by existing cash reserves. The company said it expects to buy back about 606,060 shares at a price of USD16.50 per share.

New York-based private equity firm Apollo acquired Sun Country Airlines from brothers Marty and Mitch Davis for an undisclosed sum in December 2017.

The ch-aviation fleets module shows Sun Country Airlines’ fleet currently comprises 58 aircraft, namely forty-four B737-800s, thirteen B737-800(BCF)s, and one B737-900ER. Four more of the latter type were acquired from GOAL in 2023 and will arrive at the carrier between 2025 and 2026 as their leases expire from Oman Air (WY, Muscat).

The principal shareholders of Sun Country Airlines Holdings include BlackRock Advisors LLC with 12.77%; Apollo with 12%; Barclays PLC with 10.48%; Vanguard Fiduciary Trust Co., with 8.7%; and Macquarie Investment Management with 5.7%.