Sun Country Airlines Holdings, Inc. (NASDAQ:SNCY) Q2 2024 Results Conference Call August 2, 2024 8:30 AM ET
Company Participants
Chris Allen - IR
Jude Bricker - CEO
David Davis - President, CFO & Director
Conference Call Participants
Ravi Shanker - Morgan Stanley
Duane Pfennigwerth - Evercore ISI
Scott Group - Wolfe Research
Michael Linenberg - Deutsche Bank
Tom Fitzgerald - TD Cowen
Operator
Welcome to the Sun Country Airlines’ Second Quarter 2024 Earnings Call. My name is Crystal, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will be given at that time. As a reminder, this call will be recorded.
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 a 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 upon management's current beliefs, expectations and assumptions that are subject to risks and uncertainties. Actual results may differ materially.
We encourage you to review our 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 statements. You can find our Q2 2024 earnings press release on the Investor Relations platform of our website at ir.suncountry.com.
With that said, I'd now like to turn the call over to Jude.
Jude Bricker
Thanks, Chris. Good morning, everyone. Our diversified business model is unique in the airline industry. Due to the predictability of our charter and cargo businesses, we are able to deliver the most flexible scheduled service capacity in the industry. The combination of our schedule flexibility and low fixed-cost model allows us respond to both predictable leisure demand fluctuations and exogenous industry shocks. We believe due to our structural advantages we'll be able to reliably deliver industry leading profitability throughout our cycles.
I want to start by acknowledging our employees that have worked so hard through this challenging summer. In both June and July, we've grown scheduled service departures in excess of 15% year on year, while facing some extended aircraft out of service events and an IT outage that temporarily disabled the key operational system. Our employees, like usual, delivered for our customers, and I'm personally grateful.