Sun Country Airlines says it has repaid in full the Debtor in Possession (DIP) financing loan it received in December 2008.
“This is a significant achievement as we continue to position Sun Country as a successful, profitable, low-fare airline based in the Twin Cities,” said president & CEO Stan Gadek. “Sun Country has become more efficient and financially stronger despite adverse circumstances. Our success is due to the loyalty and dedication of every member of the Sun Country team and the continuing strong support of our customers.”
While in bankruptcy protection, Sun Country’s focus as Minnesota’s “Hometown Airline” has remained the same: to restore itself as a profitable, nimble, and customer-friendly airline serving the travel needs of Minnesota and the region. “The response of our valued customers has been overwhelmingly positive and has been a significant factor in our turnaround,” Gadek added.
The airline is also projecting a profit for the first quarter and full year 2009 – its first in many years. Sun Country is pleased with its progress to date and expects to announce more positive news regarding new service and the reorganisation process in the days and months ahead. “We are doing things right and building a strong foundation for a solid future,” Gadek declared.
The DoD has changed its structures and is been increasing efforts to facilitate access to loans by companies interested in working with artificial intelligence, advanced materials and semiconductors, biotechnology and quantum science.
India has approved millions of dollars in new military purchases, most of which will go to public sector companies.
The main obstacles to overcoming risks in the region are a lack of a strong cybersecurity culture and inadequate funds to invest in this domain given a widespread Chinese presence in the region.
MBDA is adapting to supply chain pressures as the Russian invasion of Ukraine leads to increased demand for armaments.
Despite the additional funding promised this week, the UK armed forces still look set to face cutbacks, and maintaining international commitments to AUKUS and GCAP may limit the options for other programmes.
This week on the Shephard Defence Podcast, senior naval reporter Harry Lye and military training & simulation reporter Norbert Neumann chat with Professor John Louth.
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