Says "Recent Events" At Petters Forced Move

For anyone following recent developments at Sun Country Airlines, and its embattled parent company, the following will likely come as little surprise.

Petters Aviation, LLC -- which owns Sun Country -- filed for Chapter 11 bankruptcy protection Monday afternoon, but insists that passengers will not notice any difference in service. In a brief statement, the country stressed flights would operate normally.

"We were forced to take this action as a result of recent events at Petters Group Worldwide. We do not anticipate any disruptions, and expect to operate business as usual," said Stan Gadek, Chairman and Chief Executive Officer of Sun Country. "Customers can book their flights in confidence and know that they will continue to receive the great service that they are accustomed to on Sun Country."

Gadek has had to reassure a lot of people of late.

As ANN reported, federal agents raided the offices of Petters Group Worldwide in late September. Company founder Tom Petters resigned as chairman of Sun Country's board of directors soon afterward, under clouds of accusation and a strong whiff of corporate malfeasance.

The airline then told workers they'd need to accept a 50 percent pay cut through the end of the year, saying the quagmire at Petters made it impossible for Sun Country to receive short-term loans to keep the airline going.

Gadek has since warned employees of the possibility of furloughs, or outright layoffs... or, in the worst case scenario, the complete shutdown of Sun Country operations.

FMI: www.suncountry.com