Sky Harbour Group Announces an Expansion to its Future New York Stewart International Airport Hangar Campus
WEST HARRISON, N.Y.–(BUSINESS WIRE)–Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) (“SHG” or the “Company”) today announced that the Port Authority of New York and New Jersey (PANYNJ) has authorized the execution of a lease amendment to expand Sky Harbour’s development site at New York Stewart International Airport (SWF) from 16 acres to 26 acres. The expansion is expected to increase rentable hangar square footage by approximately 150,000 square feet and create a more efficient site layout.
Tal Keinan, Sky Harbour’s Chairman and Chief Executive Officer, 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.”
The Sky Harbour SWF campus will offer “the best home base in business aviation” to house New York’s top corporate and private business aircraft in state-of-the-art hangars, with line services dedicated exclusively to based tenants, offering “the shortest time to wheels-up in business aviation.” The Sky Harbour development is expected to create or sustain hundreds of local jobs and generate meaningful economic benefits for the City of Newburgh, the Town of New Windsor, Orange County, and the Hudson Valley region.
About Sky Harbour
Sky Harbour Group Corporation is an aviation infrastructure company developing the first nationwide network of Home Base Operator (HBO) campuses designed exclusively for based business aircraft. Sky Harbour’s HBO model provides private and corporate flight departments with the best physical infrastructure in business aviation, facilities and services tailored to each Resident’s operational requirements, and the shortest time to wheels-up.
Sky Harbour currently operates locations at Dallas Addison Airport (ADS), Denver Centennial Airport (APA), Houston’s Sugar Land Regional Airport (SGR), Miami Opa-Locka Executive Airport (OPF), Nashville International Airport (BNA), Phoenix Deer Valley Airport (DVT), San José Mineta International Airport (SJC), Seattle’s King County International Airport – Boeing Field (BFI) and Southern California’s Camarillo Airport (CMA).
Campuses in development include Atlanta’s Peachtree-DeKalb Airport (PDK), Chicago Executive Airport (PWK), Connecticut Bradley International Airport (BDL), Dallas Executive Airport (RBD), Dallas Love Field (DAL), Fort Worth Meacham International Airport (FTW), New Jersey Trenton-Mercer Airport (TTN), New York Hudson Valley Regional Airport (POU), New York Stewart International Airport (SWF), Orlando Executive Airport (ORL), Portland Hillsboro Airport (HIO), Salt Lake City International Airport (SLC), Southern California’s Long Beach Airport (LGB) and Washington Dulles International Airport (IAD).
To learn more, visit www.skyharbour.group.
About New York Stewart International Airport
New York Stewart International Airport (SWF) is a key commercial and cargo airport serving the New York metropolitan area. SWF also handles a significant volume of corporate, charter, and private aircraft. Located 60 miles north of Manhattan, it offers convenient access to New York City for business travelers. With its range of services and facilities tailored to business aviation, SWF serves as a gateway for companies driving growth across the region. Visit swfny.com for additional information.
Forward Looking Statements
Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995, including statements about the expectations regarding future operations at SHG and its subsidiaries. When used in this press release, the words “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations of the management of the Company as applicable and are inherently subject to uncertainties and changes in circumstances. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. For more information about risks facing the Company, see the Company’s annual report on Form 10-K for the year ended December 31, 2024 and other filings the Company makes with the SEC from time to time. The Company’s statements herein speak only as of the date hereof, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts
Sky Harbour Airport Relations: nszymczak@skyharbour.group
Sky Harbour Resident Relations: asigourney@skyharbour.group
Sky Harbour Investor Relations: investors@skyharbour.group Attn: Francisco Gonzalez
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