Sky Harbour Announces Two New Developments Aimed at Serving the New York and Connecticut Business Aviation Markets and Provides an Update on Construction Activities

The Connecticut Airport Authority, Duchess County (NY), and Sky Harbour Group Corporation (NYSE: SKYH, SKYH WS) (“Sky Harbour”, “SHG”, or “the Company”) today announced the execution of two ground leases for the development of Sky Harbour Home Base campuses at Bradley International Airport (BDL) and at Hudson Valley Regional Airport (POU). Both new campuses will address the large and growing hangar deficit impacting the New York metro area, the #1 business aviation market in the world. Additionally, the Company is updating certain of its estimates and completion schedule pertaining to two active construction projects.

New Ground Leases

The new Sky Harbour campuses will be developed on approximately 8 acres at BDL and 7 acres at POU. Both will be a catalyst to create hundreds of local jobs and generate significant economic benefits to their local communities. These campuses will offer “the best home base in business aviation” to house some of the New York and Connecticut area’s top corporate and privately-owned business jets in private hangars, with line-services dedicated exclusively to based tenants, offering “the shortest time to wheels-up in business aviation.”

Connecticut Airport Authority Executive Director Kevin A. Dillon, A.A.E., said, “As we diversify our partner portfolio and bolster aviation activity at Bradley International Airport, we are pleased to have partnered with Sky Harbour Group to drive further growth at the airport. Their multi-million-dollar private investment will benefit our region for years to come, by creating jobs and making our airport even more attractive to the corporate and private aviation market.”

Dutchess County Executive William F.X. O’Neil said, “Sky Harbour brings unique and differentiated benefits to our county, the Hudson Valley Region, and New York State. We appreciate the spirit of partnership and professionalism that the Sky Harbour team has brought to this relationship. We value the company’s track record of delivering on its commitments and look forward to working together to enhance our Hudson Valley Regional Airport’s value to our community and to the business aviation community.”

Tal Keinan, Sky Harbour’s Chairman and Chief Executive Officer, commented, “Bradley International Airport and Hudson Valley Regional are among the best-managed airports in the United States, and serve the country’s top business aviation market. Sky Harbour is honored to be joining the BDL and POU community and is committed to maximizing the long-term benefits of a Sky Harbour campus to Connecticut, Dutchess County, and the New York metro area.”