Solar Nation Airways chief accounting officer sells $16,026 in inventory

MINNEAPOLIS—John Gyurci, the Chief Accounting Officer and Vice President of Finance at Solar Nation Airways Holdings, Inc. (NASDAQ:SNCY), not too long ago offered a portion of his holdings within the firm. The airline, presently valued at $851 million, has seen its inventory buying and selling close to its 52-week excessive of $16.46, in response to InvestingPro knowledge. Based on a Type 4 submitting with the Securities and Trade Fee, Gyurci offered 1,008 shares of Solar Nation frequent inventory on January 10, 2025, at a worth of $15.8994 per share. The transaction totaled roughly $16,026.

The sale was executed to cowl tax withholding obligations associated to the vesting of restricted inventory models, as famous within the submitting. This “promote to cowl” transaction was not a discretionary commerce by Gyurci. Following this transaction, he retains possession of 11,618 shares within the airline firm.

“In different latest information, Solar Nation Airways reported a combined bag of monetary outcomes for Q3 2024. The airline disclosed complete income of $249.5 million, mirroring the earlier yr’s figures. Regardless of a lower in passenger phase income by 3%, and a 5.9% discount in scheduled service income, the cargo phase income soared to a document $29.2 million, marking an 11.9% improve. Solar Nation additionally plans to bolster its fleet with the addition of 5 leased Oman plane by the tip of 2024.

Goldman Sachs resumed protection on Solar Nation, assigning the service’s shares a impartial score. The agency highlighted the airline’s strong margins, attributed to its distinctive method of seasonal capability administration and the steadiness offered by long-term contracts in its cargo and constitution operations. The evaluation additionally pointed to potential margin development into 2025 and an anticipated improve in free money stream over the medium time period.

Wanting forward, Solar Nation tasks This autumn income to land between $250 million and $260 million, with an working margin of seven% to 9%. Whereas share buybacks usually are not presently on the desk, the chance shall be reviewed in 2025. These developments are a part of the airline’s latest strategic plans and actions.”

This text was generated with the assist of AI and reviewed by an editor. For extra info see our T&C.