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Stock impact report

Allegiant to acquire Sun Country in $1.5 billion deal [Yahoo! Finance]

Apollo Global Management, Inc. (New) (APO) 
Last apollo global management, inc. (new) earnings: 5/1 07:00 am Check Earnings Report
US:NYSE Investor Relations: apollo.com/shareholders/overview
Company Research Source: Yahoo! Finance
The two rival budget carriers announced a "definitive merger agreement" on Sunday, under which Allegiant will take over Sun Country with the intention of creating a "leading leisure-focused U.S. airline," pending federal regulatory approval. The combined company will be headquartered in Las Vegas, Allegiant's home, but the statement says it will "maintain a significant presence" in Minneapolis-St. Paul. While mergers typically reduce competition and potentially higher prices for consumers, this comes at a difficult time for the budget airline industry. This past fall, Spirit Airlines sought bankruptcy protection amid rising costs and greater competition from larger carriers like Delta, United and American. Sign up for our BREAKING NEWS newsletters The statement says Sun Country's 105 routes will join Allegiant's 551, connecting Minneapolis-St. Paul to "mid-sized markets, and expand nonstop service to popular vacation spots." Sun Country was founded in 1982 by Twin Cities ar Show less Read more
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