Sky Harbour Group Corporation

skyharbour.group

What Do They Do?

Develops, leases and manages private and semi-private hangars and dedicated services for business aircraft owners, operators and their support crews.

How Do They Make Money?

Aircraft owners and operators pay rent for hangar space over their lease terms; at some campuses, customers also pay for fuel when it is sold and for ground services when performed.

FY2025 revenue

Who Are Their Customers?

Most tenants are individuals, often leasing directly or through personally or family-owned companies; other tenants include charter operators, corporate fleets, government entities and aviation service providers.

Do Revenues Turn Into Profits?

Yes. It kept 68 cents of every revenue dollar as net income in FY2025, but spent more cash than it brought in: free cash flow was −$11.8M.

Operating income, FY2025

−102% of revenue

▲ +37% (Loss) vs FY2024 (−$20.4M, −138%)

Net income, FY2025

68% of revenue

▲ Now profitable vs FY2024 (−$45.2M, −306%)

Free cash flow, FY2025

−43% of revenue

▲ +4% (Loss) vs FY2024 (−$11.4M, −77%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +50%; vs $6.6M in Q2 FY2025
Net income: ▼ Now a loss; vs $17.5M in Q2 FY2025

Aug 21, 2026 Sold shares in a registered offering for $10.0 million The company said it would use the net proceeds for general corporate purposes.
Aug 12, 2026 Sold shares in a registered offering for $40.0 million The company said it would use the net proceeds for general corporate purposes.

Growing. Revenue grew 17.5x in 4 years, from $1.6M in FY2021 to $27.5M in FY2025, about 104% a year.

Hangar access and services The latest report describes hangars with exclusive or semi-exclusive tenant use, while the older report described private hangars for exclusive use. The latest report also adds climate control and low-traffic campuses to the listed features.

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