Sky Harbour Group Corporation Announces its 2023 Financial Results; Updates on New Ground Leases, Construction and Hangar Leasing; Injects Equity into Obligated Group and Files Various Registration Statements with SEC - Seite 4

Equity Cash Infusion into PABs Series 2021 Obligated Group

On March 27, 2024, the Company contributed an additional $27 million of cash equity into its wholly-owned subsidiary Sky Harbour Capital LLC (the Obligated Group) to address the anticipated net funding gap associated with the one-time remediation costs at DVT, APA and ADS.

CEO Remarks

Tal Keinan, Chairman and Chief Executive Officer, commented on 2023 Full year results and other recent events:

“Sky Harbour’s efforts to ramp up site acquisition in 2023 are bearing fruit today and should accelerate throughout 2024 and 2025. Having established our baseline unit economics, the Site Acquisition team’s focus is shifting to the country’s tier-1 metro markets, where excess demand for business aviation hangar space most acutely manifests in higher hangar rents. With prototype design weaknesses addressed rigorously and rectified, we are structuring and growing the Sky Harbour Development Team to accommodate the anticipated scale-up in manufacturing and construction. The Airfield Operations team continues to focus on delivering the most efficient and personalized service suite in business aviation. Sky Harbour took good strides in 2023 in pursuit of its ambition to provide Sky Harbour Residents with the best service at the best facilities on the best airfields in business aviation. We are now gearing up to perform at scale.”

Webcast Conference Call

Sky Harbour will host a live conference call and concurrent webcast at 5 p.m. ET on March 27th, 2024. To join the webcast, please use the following link:

https://events.q4inc.com/attendee/844843790

For audio-only conference call, please use the following participant details:
North America Toll-Free: [phone]
North America Toll: [phone]
International Toll: [phone]
Conference ID 3259957
Please note that questions may only be submitted in writing during the webcast through the platform link above.

A replay of the webcast may be found starting on March 28th at Sky Harbour Group Corporation | Events & Presentations - Events

About Sky Harbour Group Corporation

Sky Harbour Group Corporation is an aviation infrastructure company developing the first nationwide network of Home-Basing campuses for business aircraft. The Company develops, leases and manages general aviation hangars across the United States. Sky Harbour’s Home-Basing offering aims to provide private and corporate customers with the best physical infrastructure in business aviation, coupled with dedicated service tailored to based aircraft, offering the shortest time to wheels-up in business aviation. To learn more, visit www.skyharbour.group.