AIRCRAFT

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

AIRCRAFT

AIRCRAFT

As of March 31, 2023, Sun Country's fleet consisted of 57 Boeing 737-NG aircraft, comprised of 53 Boeing 737-800s, three Boeing 737-900ERs and one Boeing 737-700.

The following tables summarize the Company’s aircraft fleet activity for the three months ended March 31, 2023 and 2022, respectively:

	December 31, 2022	Additions	Reclassifications	Removals	March 31, 2023
Passenger:
Owned	29	—	—	—	29
Finance leases	11	—	—	—	11
Operating leases	2	—	—	—	2
Sun Country Airlines’ Fleet	42	—	—	—	42
Cargo:
Aircraft Operated for Amazon	12	—	—	—	12
Other owned:
Aircraft Held for Operating Lease	—	3	—	—	3
Total Aircraft	54	3	—	—	57
	December 31, 2021	Additions	Reclassifications	Removals	March 31, 2022
Passenger:
Owned	21	1	—	—	22
Finance leases	9	1	2	—	12
Operating leases	6	—	(2)	—	4
Sun Country Airlines’ Fleet	36	2	—	—	38
Cargo:
Aircraft Operated for Amazon	12	—	—	—	12
Total Aircraft	48	2	—	—	50

During the three months ended March 31, 2023, the Company entered into an agreement to acquire five 737-900ERs that are currently on lease to an unaffiliated airline ("Aircraft Held for Operating Lease"). As of March 31, 2023, three of the Aircraft Held for Operating Lease had been acquired. Subsequent to March 31, 2023, the transaction was completed resulting in the acquisition of the two remaining Aircraft Held for Operating Lease. The five Aircraft Held for Operating Lease were financed through a term loan arrangement. See Note 6 of these Condensed Consolidated Financial Statements for more information on this transaction. As of March 31, 2023, 29 of the owned aircraft and Aircraft Held for Operating Lease were financed and three aircraft were unencumbered.

During the three months ended March 31, 2022, the Company executed lease amendments to purchase two aircraft at the end of the lease term, which modified the lease classification from operating leases to

finance leases with expiration dates in fiscal year 2026. The Company also acquired two incremental 737-800 aircraft, one of which was financed using proceeds from the issuance of Class A and Class B pass-through trust certificates (the "2022-1 EETC") and another through a finance lease arrangement that is set to expire in fiscal year 2030.

Depreciation, amortization, and rent expense on aircraft are as follows:

		Three Months Ended March 31,
Aircraft Status	Expense Type	2023		2022
Owned	Depreciation	$	11,872	$	8,673
Finance Leased	Amortization	4,683		4,069
Operating Leased	Aircraft Rent (1)	1,480		3,186
		$	18,035	$	15,928

(1) Aircraft Rent expense includes credits for the amortization of over-market liabilities established at the Acquisition Date.