SNCY - Why Sun Country Airlines Stock Popped 12% on Thursday
2024-06-20 12:25:31 ET
Shares of curiously named Sun Country Airlines (NASDAQ: SNCY) -- which is actually based in Minnesota -- popped in morning trading Thursday. The low-cost passenger and cargo airline surged 12.2% through 11:30 a.m. ET after announcing an expanded relationship with Amazon .
Going forward, Sun Country will operate up to eight more Boeing 737-800 cargo jets in service of the e-commerce giant .
As Sun Country explained in its announcement, it already runs a dozen Boeing jets for Amazon. The companies' new Amended and Restated Air Transport Services Agreement will grow the size of that fleet by two-thirds, and also extend the companies' partnership through at least 2030 -- with an option to extend it out as far as 2037.
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Why Sun Country Airlines Stock Popped 12% on Thursday