Sky Harbour Group to Develop Campus at Stewart International Airport

By Tamara Parker • Tuesday, May 28 11:38 • Permanent Link

Sky Harbour Group Corporation (NYSE American: SKYH, SKYH WS) recently announced the authorization of a lease agreement for the development of a Sky Harbour campus at Stewart International Airport (SWF) in New York. This campus is expected to provide state-of-the-art hangars and line services dedicated exclusively to based tenants, with the aim of offering the shortest time to wheels-up in business aviation.

The company expects this development to create or sustain hundreds of local jobs and generate significant economic benefits for New York State, Orange County, and Stewart International Airport. Additionally, it is reported that this will be Sky Harbour's third facility to serve the New York metropolitan area, which is recognized as the nation's top market for business aviation.

Stewart International Airport, located 60 miles north of Manhattan, is a key commercial and cargo airport serving the New York metropolitan area. It also handles a significant volume of corporate, charter, and private aircraft, offering convenient access to New York City for business travelers.

The company's Chairman and CEO, Tal Keinan, highlighted the significance of their partnership with MJJ Builders and the guidance of Passero Associates in driving this project. This project also marks Sky Harbour's first active partnership with Jonah Mandelbaum and the Red Tail Flight Academy.

Sky Harbour Group Corporation is an aviation infrastructure company that develops, leases, and manages general aviation hangars across the United States. It aims to provide private and corporate customers with the best physical infrastructure in business aviation, coupled with dedicated service tailored to based aircraft.

At present, Sky Harbour has campuses in operation at Houston's Sugar Land Regional Airport, Nashville International Airport, Miami Opa-Locka Executive Airport, and San Jose Mineta Airport, with additional campuses in development and soon to be announced.

The press release did not include specific financial metrics or comparative performance figures from the previous period. Following these announcements, the company's shares moved -0.8%, and are now trading at a price of $12.5. For the full picture, make sure to review Sky Harbour's 8-K report.

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