Sun Country files for bankruptcy, going down with Petters sinking ship by Emily Kaiser

Sun Country Airlines told the Metropolitan Airports Commission today that it filed for Chapter 11 bankruptcy. The low-cost airline based in Minnesota ran into some financial trouble after their parent company, Petters Group Worldwide, became entrenched in a federal fraud investigation of more than $1 billion. Petters Aviation, which owns all of Sun Country's voting shares, also filed, according to the Star Tribune. On Friday, we reported that the carrier warned employees of major layoffs or a potential shutdown as soon as Dec. 1. According to the Pioneer Press:... [read full story]