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In this Oct. 31, 2006 file photo, Shaun Nugent, right, Sun Country Airlines CEO, appears with businessman Tom Petters at a news conference which it was announced Petters investment group, consisting of Petters Group and Whitebox Advisors, had completed the acquisition of Sun Country Airlines, a low-cost carrier that flies a limited scheduled to popular leisure and business destinations. Sun Country announced Monday the company is filing bankruptcy. (AP Photo/The Tar Tribune, David Joles, file)

Update 4:30 p.m.: Sun Country files for bankruptcy protection

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MINNEAPOLIS (AP) - Sun Country Airlines filed for Chapter 11 bankruptcy on Monday, just days after the founder of its parent company, Petters Group Worldwide, was charged in a multimillion dollar fraud investigation.

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Sun Country plans to continue operating on its normal schedule, airline Chairman and CEO Stan Gadek said Monday.

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