Mendota Heights-Based Sun Country Sold to Minnesota Family

was sold Wednesday to a Minnesota family that also owns the Cambria countertop company, according to the Star Tribune.

The airline entered bankruptcy in October 2008 after its then-owner, Tom Petters, was charged with operating a multi-billion dollar Ponzi scheme. The freezing of Petters’ assets effectively cut off the low-cost airline’s short-term cash flow, according to media reports at the time.

Sun Country’s holding company, MN Airlines LLC, submitted a bankruptcy plan in April 2010.

The company has since turned their financial picture around, and in the works began last March.

Bankruptcy trustee Doug Kelley is quoted as saying that the company’s employees will keep their jobs and Sun Country’s creditors will be paid as a result of the proceedings.