US EditionAllegiant Buying Sun Country Airlines in $1.5 Billion Cash, Stock Deal
Merger creates a leisure airline serving 22 million customers annually with nearly 175 cities and 650 routes, targeting $140 million in synergies by year three.
- Allegiant Travel Company said on Jan. 11, 2026 it will acquire Sun Country Airlines Holdings Inc. in a $1.5 billion cash-and-stock deal including $0.4 billion net debt and an implied price of $18.89 per share.
- Serving 22 Million annual passengers, the merger aims to create a leading leisure-focused U.S. airline by combining complementary networks and expanding to 18 international destinations, with Allegiant projecting $140 Million annual synergies by year three.
- The deal gives Sun Country shareholders 0.1557 shares of Allegiant common stock plus $4.10 in cash per share, a 19.8% premium over the Jan. 9 close and ownership split of 67% Allegiant, 33% Sun Country.
- The boards of Allegiant and Sun Country expect to close the deal in the second half of 2026 after U.S. federal antitrust and regulatory approvals, with a January 12, 2026 investor conference call at 8:30 AM ET.
- More than 650 routes will be offered by the combined airline, which will operate approximately 195 aircraft, add more than 2 million Sun Country members to Allegiant members 21 Million, and include Amazon Prime Air contracts.
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Sun Country to merge with Allegiant in 2026
Sun Country Airlines and Allegiant will merge in 2026 into one airline that will serve 175 cities and provide more than 650 routes across the United States, Mexico, Central America, Canada and the Caribbean, according to a news release. According to the two airlines, the merger will result in the new airline having more nonstop routes and service to smaller and mid-sized cities (which Allegiant currently serves). The combined company will use th…
Allegiant to acquire Sun Country Airlines in $1.5B deal
LAS VEGAS (KLAS) -- Las Vegas–based Allegiant announced it will acquire Sun Country Airlines in a cash-and-stock deal valued at approximately $1.5 billion, a move that would create one of the largest leisure-focused airlines in the United States. Under the agreement, Sun Country shareholders will receive $4.10 in cash and 0.1557 shares of Allegiant stock [...]
The Business Journals
Allegiant buying Sun Country Airlines in $1.5 billion cash, stock deal
The combined airline will maintain a significant presence at Minneapolis-St. Paul International Airport, where Sun Country currently dominates Terminal 2, and passengers can expect expanded routes and international destinations.
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