RUNWAY READY. The last thing the U.S. travel market needs is another airline company, but investors could use one that isn’t burning cash. They got that on Wednesday when Apollo Global Management-backed Sun Country Airlines raised almost $220 million in an initial public offering. The company, which ships both people and cargo and signed an important contract with Amazon.com in 2019, inked positive cash flows from operations last year even though revenue fell 40%. That could be one reason why its shares jumped more than 50% in their debut. Its IPO price put the company’s enterprise value at around 4 times 2020 sales, and that’s before accounting for the pop. The valuation is significantly higher than big peers like American Airlines and small ones like Alaska Air, which are both closer to 2 times. The airline now has to live up to such sunny optimism. (By Lauren Silva Laughlin)