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SKYH News
SKYH Events
Company Signs Stock Purchase Agreement with M-Cor Capital for 1 Million Shares
The Company has executed a third stock purchase agreement as part of the Registered Direct Common Stock Placement that closed last week. An additional one million shares will be sold to M-Cor Capital at $10.00 per share, with the closing expected on or before August 26. The two investors in the initial tranche of the Registered Direct Common Stock Placement have provided waivers to the Company's 90-day lock-up agreement that went into effect last Wednesday. The Company does not expect to seek additional waivers. The additional $10M in proceeds is expected to be used to support future hangar developments and other corporate purposes.
Sky Harbour Q1 Revenue $8.73M, Below Expectations
Reports Q1 revenue $8.73M, consensus $9.95M. CEO Tal Keinan commented: "OPF Phase 2 is demonstrating 1) the efficacy of the Ascend Integrated Construction Program, including the SH34 Prototype and Stratus PEMB manufacturing, and 2) the benefits of same-field expansion, where the local strength of Sky Harbour's reputation has generated pent-up demand, facilitating rapid lease-up at rents exceeding forecast. The Sky Harbour model is in place. Our plan is now to replicate it at scale, at the best airports in the country, at a pace that will continue accelerating for the coming years."
Expects Consolidated Adjusted EBITDA of $4M-$6M by Year End
Expects to achieve consolidated Adjusted EBITDA of $4M-$6M on an annualized run rate basis by year end, up from an annualized run rate of negative $6.0M in Q1 2026.
Sky Harbour Reports Q4 Net Income of $195K
Reports Q4 net income $195K. CEO Tal Keinan commented: "The company is generating operating cash at an increasing rate as additional hangar campuses come online. More than 1,000,000 square feet of new hangar development is fully funded, and our construction resources are prepared to meet the upcoming surge with growing speed and cost-efficiency. The Sky Harbour HBO offering is the solution of choice for the country's top flight departments. Our focus for 2026 is scale."
Sky Harbour Expands Development Site at Stewart International Airport to 26 Acres
Sky Harbour announced that the Port Authority of New York and New Jersey has authorized a lease amendment to expand its development site at New York Stewart International Airport from 16 acres to 26 acres. The expansion is expected to increase rentable hangar square footage by approximately 150,000 square feet. Tal Keinan, Sky Harbour's chairman and CEO, commented, "As detailed in the Q3 earnings call, Sky Harbour is seeking to expand the square footage of our existing airport ground leases in the nation's top markets. New York is the top home-basing market in business aviation, and SWF will serve as the home base for New York's largest business aircraft. This expansion will bring Sky Harbour: 1) increased revenues; 2) development cost advantages resulting from a more efficient site layout; and 3) enhanced operating margins, not only at SWF, but also at POU and BDL. We appreciate our growing partnership with the Port Authority of New York and New Jersey, MJJ Builders, and Passero Associates. We are especially grateful for our continuing strategic collaboration with Mr. Jonah Mandelbaum and the Red Tail Flight Academy."
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