Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Q1 2022 Results Conference Call May 5, 2022 3:30 PM ET

Company Participants

Chris Allen - Director, IR

Jude Bricker - CEO

Dave Davis - President and CFO

Grant Whitney - Chief Revenue Officer and EVP

Conference Call Participants

Ravi Shanker - Morgan Stanley

Duane Pfennigwerth - Evercore

Brandon Oglenski - Barclays

Catherine O’Brien - Goldman Sachs

Scott Group - Wolfe Research

Mike Linenberg - Deutsche Bank

Christopher Stathoulopoulos - Susquehanna

Operator

Welcome to the Sun Country Airlines First Quarter 2022 Earnings Call. My name is Terry, and I will be your operator for today’s call. [Operator Instructions] Please be advised that this conference call is being recorded. [Operator Instructions]

I will now turn the call over to Chris Allen, Director of Investor Relations. Mr. Allen, you may begin.

Chris Allen

Thank you. I’m joined today by Jude Bricker, our Chief Executive Officer; Dave Davis, President and Chief Financial Officer; and talented group of others to help answer questions.

Before we begin, I’d like to remind everyone that during this call, the company may make certain statements that constitute forward-looking statements. Our remarks today may include forward-looking statements, which are based on management’s current beliefs, expectations and assumptions and are subject to risks and uncertainties. Actual results may differ materially. We encourage you to review the risk factors and cautionary statements outlined in our earnings release and our most recent SEC filings. We assume no obligation to update any forward-looking statement. You can find our first quarter earnings press release on the Investor Relations portion of our website at ir.suncountry.com.

And with that said, I would now like to turn the call over to Jude.

Jude Bricker

Thanks, Chris. Good morning, everyone. After nearly 2 years since the onset of the COVID pandemic, demand for air travel in the first quarter returned to pre-pandemic levels. While it’s been a long and challenging time for our industry and its employees, the last 2 years have shown the resiliency of Sun Country and what makes us truly unique. We believe we have the best people in the industry, and I’m proud of them on a daily basis, serving our growing leisure, charter and cargo customer base.

While the industry now faces a certain challenge, I want to take a few minutes to highlight some differences here at Sun Country versus the broader industry. First, we’re already profitable. We were profitable in the first quarter. We’ve been profitable through most of the pandemic. Although we’re tremendously excited about our growth prospects, we’re not reliant on growth to deliver consistent profitability and cash flow.