Sun Country Airlines reported a net profit of $13.4 million in the fourth quarter of 2024, more than doubling from $5.6 million a year prior. The airline's operating revenues totalled $260.4 million, up 6%. The company's operating income was up just over 50% to $26.1 million. The company's operating income margin for the quarter was 10%.
For the year, the company's revenues were up 2.5% to $1.1bn, though net income was down 26.7% to $52.9 million. Operating income for the year was down 16.9% to $106 million. The company reported an operating income margin of 9.9%.
Operating expenses for the quarter was up 52.2% to $26.1 million, while they were down 16.9% to $106 million for the full year.
For the quarter, TRASM declined by 1% while scheduled service capacity increased 3.5%.
The company expects first quarter 2025 revenues to be around $330 and $340 million, up 6-9% year-on-year. Fuel cost is expected to be $2.76 per gallon, down 8%. Operating income margin is expected to be 17-21%, down one percentage point to up three percentage point.
As of the end of the year, the company had 45 aircraft in its passenger service fleet as well as six aircraft on lease. In addition, it operated 12 freighter aircraft in its cargo operations.
The company's total liquidity at the end of 2024 was $205.6 million, while its net debt was $438.2 million.