Sky Harbour Group (SKYH) Registration Filing summary

Company overview and business model

• Develops, leases, and manages general aviation hangars across the U.S., focusing on high-demand markets with significant business aircraft populations.

• Offers exclusive private hangars and dedicated services for home-based business aircraft, differentiating from traditional FBOs.

• Utilizes proprietary prototype hangar designs to lower construction costs, expedite permitting, and minimize development risk.

• Revenue is primarily derived from long-term rental agreements, providing stable and predictable cash flows.

• Business model is real estate-centric, enabling funding through the public bond market and mitigating refinance risk.

Market opportunity and competitive landscape

• U.S. business aviation fleet's physical footprint grew by almost 28 million sq. ft. in the decade before COVID-19, with hangar supply lagging, especially for larger jets.

• Demand for hangar space is high due to growth in private jet deliveries and insufficient new hangar construction.

• Larger jets require more space and often cannot be accommodated in existing infrastructure, creating a premium for new, purpose-built hangars.

• Market forecast projects up to 8,500 new business jet deliveries worth over $275 billion between 2024 and 2033.

Financial performance and metrics

• Two private placements in 2024 raised a total of $75,160,010 for 7,911,580 shares of Class A Common Stock.

• As of January 13, 2025, there were approximately 33.6 million shares of Class A Common Stock and 42 million shares of Class B Common Stock outstanding.

• Class A Common Stock closed at $11.15 per share on January 24, 2025.