Herr pointed to what he described as steady growth in the “footprint” of the U.S. business aviation fleet, noting that new aircraft tend to be larger than the planes they replace. He also cited a Honeywell analysis indicating that large jets are expected to outpace small and medium jets over time, which he said adds to the need for additional hangar square footage.High-net-worth individuals who own and operate aircraft for business and personal use (the largest bucket)Herr described Sky Harbour as a real es ...

Summary of Sky Harbour Group Conference Call Company Overview - **Company Name**: Sky Harbour Group (NYSEAM: SKYH) - **Industry**: Aviation Infrastructure and Real Estate - **Business Model**: Focuses on constructing and leasing hangars for business aircraft across the United States, utilizing long-term ground leases typically extending to 50 years [2][3][4] Core Business Insights - **Tenant Base**: - High net worth individuals (majority) - Corporations with business aviation fleets - Government tenants and charter operators (smallest segment) [3][4] - **Ancillary Services**: In addition to hangar rentals, the company provides aviation services such as fuel sales and aircraft towing [4] - **Unit Economics**: Targeting low to mid-teen yields on cost or NOI yields, financed through tax-exempt municipal bonds [5][19] Market Dynamics - **Growth of Business Aviation Fleet**: The size of the business aviation fleet in the U.S. is consistently growing, with larger aircraft being introduced, leading to increased demand for hangar space [6][7] - **Supply Constraints**: Hangar development has not kept pace with the growth of the aviation fleet due to local municipalities' reluctance to invest taxpayer dollars in hangar construction [7][8] - **Competitive Landscape**: Sky Harbour differentiates itself from Fixed Base Operators (FBOs) by focusing solely on servicing its own clients, providing a more private and secure environment [10][11] Financial Performance and Projections - **Current Operations**: Operating at 23 airports with plans to expand to over 50 [5][6] - **Revenue Growth**: Anticipated revenue growth as airports transition from raw ground leases to completed constructions and lease-up processes, which can take 2-3 years [20][21] - **EBITDA Status**: Currently at break-even on an EBITDA basis, with expectations to achieve positive EBITDA as construction projects complete [21][22] Recent Developments - **Debt Financing**: - Issued $166 million in tax-exempt municipal debt at 4.18% to fund initial projects [23] - Announced a $200 million debt facility with J.P. Morgan, functioning as a tax-exempt construction loan [24] - Issued $150 million in sub-debt at 6%, which will serve as equity contribution for upcoming projects [26][44] - **Cost Management**: Facing rising construction costs, with current costs around $300 per sq ft, a 30%-50% increase from previous projects [32][33] - **Internalization of Construction**: Efforts to bring more construction processes in-house to reduce costs, including hiring a general contractor and acquiring a hangar manufacturing facility [15][34] Future Outlook - **Dividend Potential**: While there is interest in dividends, the company plans to retain cash flows for reinvestment into high-yielding assets for the foreseeable future [29][30] - **Investor Concerns**: Main concerns revolve around construction costs and capital expenditures, with strategies in place to manage these through vertical integration and cost control measures [32][33][34] - **Growth Strategy**: Focus on acquiring new ground leases and expanding construction capabilities to meet increasing demand for hangar space [18][27] Conclusion Sky Harbour Group is positioned for growth in the aviation infrastructure sector, with a clear strategy to capitalize on the increasing demand for hangar space while managing costs and financing effectively. The company is focused on internalizing construction processes and expanding its footprint across U.S. airports, aiming for sustainable profitability in the coming years.

WEST HARRISON, N.Y--(BUSINESS WIRE)--Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) ("SHG†or the "Company†), an aviation infrastructure company building the first nationwide network of Home Base Operator (HBO) campuses for business aircraft, announced today that its indirect, wholly-owned subsidiary Sky Harbour Capital III LLC ("SKYH Capital III†) priced its Series 2026 Aviation Facilities Project bonds (the "Series 2026 Bonds†) at a yield of 6.0%. The Series 2026 Bonds were priced at par, carry ...

Core Viewpoint - Sky Harbour Group Corporation is advancing its position in the aviation infrastructure sector by establishing a nationwide network of Home Base Operator campuses for business aircraft [1] Group 1 - Sky Harbour Group Corporation announced that its subsidiary, Sky Harbour Capital III LLC, is filing a Preliminary Limited Offering Statement with the Municipal Securities Rulemaking Board [1]

Core Viewpoint - Sky Harbour Group Corporation has received authorization from the Port Authority of New York and New Jersey to expand its development site at New York Stewart International Airport, which will enhance its operational capacity and efficiency [1] Group 1: Company Expansion - The lease amendment will increase the development site from 16 acres to 26 acres [1] - This expansion is expected to add approximately 150,000 square feet of rentable hangar space [1] - The changes aim to create a more efficient site layout for operations [1]

Core Insights - Sky Harbour Group Corporation is expanding its network by developing Home Base Operator campuses at Dallas Love Field and Dallas Executive Airport, authorized by the Dallas City Council [1][2] - The new campuses will enhance the infrastructure for corporate and private business aircraft, creating hundreds of local jobs and providing significant economic benefits to the Dallas area [2][4] - With the addition of these two locations, Sky Harbour's network will grow to 23 airports across the United States, with nine currently operational and fourteen under development [3] Company Developments - The Dallas campuses will feature six 37,000-square-foot hangars designed for late-model business aircraft, along with tailored office and lounge suites [4] - The CEO of Sky Harbour emphasized the strategic clustering of campuses in major business aviation markets to provide tailored solutions and operational benefits [4] - The City of Dallas expressed optimism about the long-term economic impact of Sky Harbour's presence at its airports [4] Financial Updates - On December 9, the company secured a $15 million corporate loan with an 18-month term at an interest rate of 7.75%, intended for general corporate purposes [5] - Stratus Building Systems, a subsidiary, closed a $9.5 million commercial term loan to refinance existing debt, with a floating interest rate for the first year [6]

Core Viewpoint - Sky Harbour Group Corporation has announced the authorization of a ground lease agreement by the City of Fort Worth for the development of a Home Base Operator campus at Fort Worth Meacham International Airport, marking a significant step in building a nationwide network for business aircraft [1] Group 1 - The company is focused on creating the first nationwide network of Home Base Operator campuses for business aircraft [1] - The new Sky Harbour campus will serve as a home base for business aircraft operations [1]

Company Overview - Sky Harbour Group Corporation is an aviation infrastructure company focused on developing the first nationwide network of Home-Basing campuses for business aircraft [4] - The company aims to provide private and corporate residents with superior physical infrastructure in business aviation, along with dedicated services tailored to based aircraft [4] Event Announcement - Sky Harbour's Treasurer, Tim Herr, will present at NobleCon21, the Twenty First Annual Emerging Growth Equity Conference hosted by Noble Capital Markets [1] - The presentation is scheduled for December 3rd at 3:30 PM Eastern Standard Time at Florida Atlantic University [1] Investor Engagement - Interested investors and guests can attend the conference at a discounted rate using the code SKYHNOBLECON [2] - A high-definition video webcast of the presentation will be available the following day and archived for 90 days on Noble Capital Markets' Conference website and Channelchek [3]

Core Insights - Sky Harbour Group Corp. (NYSE: SKYH) demonstrated strong momentum in Q3 2025, transitioning from development to cash-generating operations [1] - The company is now conducting resident flight operations at nine campuses, with additional Tier 1 locations in development [1] - Constructed assets and construction in progress exceeded $308 million at the end of the quarter, indicating significant growth [1] Financial Performance - Revenue reached $7.3 million, reflecting a 78% year-over-year increase and an 11% sequential increase, driven by $5.7 million in rental income and $1.6 million from fuel as nine campuses ramped up operations [6] - At the end of Q3 2025, liquidity stood at approximately $48 million in cash, restricted cash, and Treasuries, with a new $200 million warehouse facility available for expansion to $300 million, which remained undrawn [6] Operational Developments - The company has fully operational sites at Sugar Land, Nashville, Miami Opa-Locka, San Jose, Camarillo, Phoenix Deer Valley, Dallas Addison, Seattle Boeing Field, and Denver Centennial [1] - Management has strengthened the capital structure by signing a joint venture letter of intent for an SH34 hangar at OPF Phase 2, providing flexible and lower-cost funding for future growth [1]

分组1 - Sky Harbour Group Corporation reported a quarterly loss of $0.06 per share, better than the Zacks Consensus Estimate of a loss of $0.10, representing an earnings surprise of +40.00% [1] - The company posted revenues of $7.3 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 15.42%, but showing an increase from $4.1 million year-over-year [2] - Sky Harbour Group has surpassed consensus EPS estimates in all four of the last quarters, but has only topped consensus revenue estimates once in the same period [2] 分组2 - The stock has underperformed the market, losing about 18.3% since the beginning of the year, while the S&P 500 gained 16.4% [3] - The current consensus EPS estimate for the coming quarter is -$0.08 on revenues of $11.47 million, and -$0.14 on revenues of $32.29 million for the current fiscal year [7] - The Zacks Industry Rank for Aerospace - Defense Equipment is currently in the bottom 30% of over 250 Zacks industries, indicating potential underperformance compared to higher-ranked industries [8]