Welcome to our dedicated page for Sky Harbour Group news (Ticker: SKYH), a resource for investors and traders seeking the latest updates and insights on Sky Harbour Group stock.
Sky Harbour Group Corporation (SKYH) operates at the intersection of aviation infrastructure and specialized facility management, focusing on business aviation hangar solutions. This news hub provides investors and industry stakeholders with centralized access to official announcements, strategic developments, and operational updates.
Our curated collection features verified press releases covering facility expansions, leasing agreements, and market positioning strategies. Users will find updates on the company's proprietary approach to addressing hangar capacity imbalances at key U.S. airfields, along with service enhancements for business aircraft operators.
Key content categories include financial disclosures, partnership announcements, and infrastructure project milestones. The repository serves as an essential resource for tracking SKYH's progress in developing integrated aviation campuses that combine physical infrastructure with operational support services.
Bookmark this page for streamlined access to primary source materials about SKYH's unique business model. Regular updates ensure you maintain current awareness of the company's initiatives in the specialized aviation real estate sector.
Sky Harbour Group (NYSE American: SKYH, SKYH WS) announced the acquisition of CloudNine at Camarillo Airport, serving Greater Los Angeles. The acquisition includes a 120,000 sq. ft. hangar and office complex, and Sky 805, which holds ground leases and fixed-based operator rights. The transaction, valued at $31 million, was primarily used to settle existing debt obligations at a 10% discount. The rebranded CloudNine will function as a Sky Harbour Home-Basing campus, while Sky 805 will continue operating Channel Islands Aviation FBO. This acquisition adds to Sky Harbour's network of campuses in Houston, Nashville, Miami, and San Jose, and those under development in several other cities. CEO Tal Keinan highlighted the strategic importance of the acquisition, citing the Los Angeles Metro as a top business aviation market. CFO Francisco X Gonzalez noted the acquisition's immediate positive impact on operating cash flow and earnings, with significant future upside potential.
Sky Harbour Group (SKYH) reported strong Q3 2024 results with consolidated revenues up 64% year-over-year and 13% quarter-over-quarter. The company maintains strong liquidity with $110 million in cash and US Treasuries, plus an additional $38 million from recent PIPE equity placement. Operating metrics show annualized revenue of $40.36 per leased square foot at four operating campuses, exceeding projections by 37%. The company is expanding its nationwide network with three new campuses opening in Q1 2025 and has raised its guidance to nine additional ground leases by December 2025. A recent PIPE financing and planned debt issuance will provide approximately $240 million to support development of 6-7 new airport campuses.
Sky Harbour Group (NYSE: SKYH) announced it will release its Third Quarter 2024 financial results after market close on Tuesday, November 12, 2024. The company will host an investor webcast at 5:00 pm ET the same day to review quarterly financial results and provide a business update. The event will include a Q&A session with management and is open to the public. The webcast will be available through the company's investor relations website, with a replay available afterward.
Sky Harbour Group (NYSE: SKYH) completed the initial closing of its equity raise, issuing 3,955,790 PIPE shares of Class A Common Stock for net proceeds of $37.58 million at $9.50 per share. The raise was upsized by $5.7 million due to additional subscriptions from existing and new investors. A second closing of up to $37.58 million is scheduled for December 2024. Combined with a planned $150 million private activity debt financing, the total proceeds of approximately $240 million will support phase 1 development of 6-7 new airport campuses, adding 800,000 rentable square feet to their existing one million square feet portfolio.
Sky Harbour Group (NYSE American: SKYH) has announced a $31.8 million equity raise through a securities purchase agreement, issuing 3,352,106 PIPE shares of Class A Common Stock at $9.50 per share. The initial closing is expected between October 15-25, 2024. Investors have the option to purchase additional shares at the same price, potentially doubling the proceeds to $63 million.
Combined with a previously announced $150 million private activity debt financing, Sky Harbour aims to secure approximately $240 million to fund its growth plan through 2026. This will support the development of 6-7 new airport campuses, adding about 800,000 rentable square feet to its portfolio. The company forecasts announcing eight new ground leases by the end of 2025, expanding its presence to 22 airports.
Sky Harbour Group (NYSE American: SKYH), an aviation infrastructure company, is set to present at the 2024 Annual Gateway Conference on September 4th at 1:30 pm PT in San Francisco. The presentation will be webcast live and available for replay. SHG is building the first nationwide network of Home-Basing campuses for business aircraft.
Key points:
- Presentation date: September 4, 2024
- Time: 1:30 pm Pacific Time
- Location: Four Seasons Hotel, San Francisco, CA
- Webcast link: https://wsw.com/webcast/gateway2/skyh/
- One-on-one meetings available with executives
For additional information or to schedule meetings, interested parties can email conference@gateway-grp.com.
Sky Harbour Group (NYSE American: SKYH) reported strong Q2 2024 results, with consolidated revenues increasing 109% year-over-year and 50% quarter-over-quarter. The company improved its net cash used in operating activities to $1.0 million in Q2 2024, down from $4.4 million in Q1 2024. Sky Harbour Capital (Obligated Group) achieved positive cash flow from operating activities of $1.1 million in Q2.
The company announced its 14th campus at Salt Lake City International Airport and increased its expected indoor rentable square footage to 2.4 million square feet. Sky Harbour is evaluating proposals for up to $150 million in new tax-exempt debt to support growth, with indicative fixed interest rates ranging from 4.55% to 5.80%. The company expanded its management team, adding executives in airport operations, construction, and development roles.
Sky Harbour Group (NYSE American: SKYH) has signed a lease agreement with Salt Lake City International Airport (SLC) to develop a Home Base hangar campus on 8.4 acres. This development aims to serve Salt Lake City and the Rocky Mountain region, complementing Sky Harbour's existing project at Centennial Airport (APA) in Denver. The campus is expected to create jobs and generate economic benefits for Utah, Salt Lake City, and SLC Airport.
The facility will offer state-of-the-art hangars and exclusive line services for based tenants, promising "the shortest time to wheels-up in business aviation." This expansion adds to Sky Harbour's growing network of campuses across the United States, including operational sites in Houston, Nashville, Miami, and San Jose, as well as several in development.
Sky Harbour Group (NYSE American: SKYH) has announced it will release its Second Quarter 2024 financial results after market close on Tuesday, August 13, 2024. The company will host an investor webcast at 5:00 pm ET the same day to review quarterly financial results and provide a general business update. A question-and-answer session with Sky Harbour leadership will follow.
The webcast will be publicly available in the UPCOMING EVENTS section of the company's investor relations website. A replay will be available after the event. Participants can join via webcast link or audio-only conference call using provided details. For questions or to connect with Sky Harbour leadership, investors can contact Investor Relations.
Sky Harbour Group announced its inclusion in the Russell 2000 Index, effective July 1st. This move is part of the 2024 Russell indexes annual reconstitution. The company believes this addition will expand its investor base and increase the liquidity of its public float. CFO Francisco X. Gonzalez highlighted upcoming engagements at investor conferences and the anticipation of additional third-party research coverage. Sky Harbour aims to grow its business profitably, improve debt service coverage, and accelerate value creation for shareholders. The company views this inclusion as a significant step towards achieving these goals.
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