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Sun Country Won't Ask For More Cash From Petters

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Sep 29, 2008 7:56 am US/Central

Sun Country Won't Ask For More Cash From Petters

MINNEAPOLIS (AP) ― The chief executive of Sun Country Airlines says the airline intends to keep flying, regardless of the outcome of a federal investigation into Petters Group Worldwide.

Sun Country CEO Stan Gadek tells the Star Tribune that Sun Country's goal is to "become financially independent and not seek any additional cash from Petters Group Worldwide for the rest of this year."

Gadek says he's confident that Sun Country will be able to do that.

Last week, federal agents raided Petters Group Worldwide headquarters in Minnetonka and Chairman and CEO Tom Petters' home in Wayzata to collect evidence for a potential fraud prosecution.

Sun Country's headquarters in Mendota Heights has not been raided, and its executives have not been targets of an FBI inquiry.

Tom Petters is linked with Sun Country because his Petters Aviation subsidiary owns all of the voting shares of the airline and Petters serves as the airline's board chairman.

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Sun Country Airlines started operating in 1982, with 33 employees.



(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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