Sabena Boeing 747s with four-engined Airbus A340. After the liberalisation of the airline industry throughout Europe and the economic consequences of the Gulf War, the Belgian government, the main shareholder of the company, realized that Sabena had little chance of surviving on its own in this very competitive market, and began searching for a suitable partner. Sabena remained in a poor financial state, and year after year the Belgian government had to cover losses, however, it was however prevented from providing new funds due to EU State Aid rules. Around 1987, SAS tried to merge with the carrier, but the merger
Sun Country Airlines full pay was restored to all employees. Employees were also promised back-pay with interest. In July 2011, Sun Country Airlines was purchased out of bankruptcy for $34 million by the Davis family, owners of Cambria, a Minnesota-based countertop company. Marty Davis, CEO of Cambria, became Chairman of Sun Country Airlines. In 2015, the board hired Zarir Erani as President and CEO of Sun Country. The airline had a net income of $27 million in 2015, followed by a 41% drop to $16 million in 2016. In July 2017, after more than a year of missed monthly earnings projections, Davis replaced