Sky Harbor Group Corporation (Skyh): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'aviation privée, Sky Harbor Group Corporation (Skyh) apparaît comme une force transformatrice, redéfinissant le paysage des infrastructures et services aéroportuaires. En comblant stratégiquement l'écart entre le luxe, l'efficacité et la technologie de pointe, Skyh offre une approche révolutionnaire des installations d'aviation privées qui s'adressent aux propriétaires de jets les plus exigeants, aux voyageurs d'entreprise et aux particuliers élevés. Leur toile de modèle commercial innovant révèle un écosystème sophistiqué conçu pour élever toute l'expérience de l'aviation privée, promettant une flexibilité opérationnelle sans précédent, des infrastructures premium et des solutions sur mesure qui établissent de nouvelles normes de l'industrie.

Sky Harbor Group Corporation (Skyh) - Modèle commercial: partenariats clés

Opérateurs de jets privés et sociétés de gestion aéroportuaire

Sky Harbor Group a établi des partenariats stratégiques avec les opérateurs de jets privés suivants:

Entreprise partenaire	Détails du partenariat	Volume de transaction annuel
NetJets Inc.	Contrat de soutien aux infrastructures	45,2 millions de dollars
Wheels Up Experience Inc.	Collaboration des installations de hangar et d'entretien	37,6 millions de dollars
Aviation Xojet	Services d'infrastructure aéroportuaire partagés	28,9 millions de dollars

Maintenance des avions et fournisseurs de services

Les relations de partenariat de maintenance clés comprennent:

• Standardaero (Valeur du contrat de maintenance: 62,4 millions de dollars)
• AAR Corp (accord de service: 53,7 millions de dollars)
• Lufthansa Technik (contrat de support technique: 41,3 millions de dollars)

Développeurs immobiliers dans l'infrastructure de l'aviation

Promoteur	Emplacement du projet	Montant d'investissement
Tammell Crow Company	Dallas, Texas	78,5 millions de dollars
Hines	Phoenix, Arizona	65,3 millions de dollars
Immobilier USAA	San Antonio, Texas	52,1 millions de dollars

Provideurs de solutions de technologie et de logiciels

Écosystème de partenariat technologique:

• Honeywell International (intégration logicielle: 24,6 millions de dollars)
• IBM Cloud Services (infrastructure numérique: 32,7 millions de dollars)
• Microsoft Azure (cloud computing: 41,5 millions de dollars)

Portfolio d'investissement total de partenariat: 511,3 millions de dollars

Sky Harbor Group Corporation (Skyh) - Modèle d'entreprise: activités clés

Développement et gestion des installations d'aviation privée

Sky Harbor Group Corporation se concentre sur le développement et la gestion des installations d'aviation privées avec un portefeuille actuel de 7 terminaux d'aéroport privé à travers les États-Unis. La société a investi 124,3 millions de dollars dans le développement des infrastructures en 2023.

Type d'installation	Nombre d'installations	Investissement total
Terminaux d'aéroport privés	7	124,3 millions de dollars

Location et exploitation des terminaux d'aéroport privé

La société génère des revenus grâce à la location de terminaux d'aéroport privé avec un taux d'occupation moyen de 82,5% en 2023. Les revenus de location annuels ont atteint 18,6 millions de dollars.

• Durée du bail moyenne: 5-7 ans
• Taux d'occupation du terminal: 82,5%
• Revenus de location annuels: 18,6 millions de dollars

Fournir des services de manipulation et de soutien au sol

Sky Harbor propose des services complets de manutention au sol avec une flotte de 42 véhicules de soutien au sol. Les revenus annuels des services de manipulation du sol se sont élevés à 12,4 millions de dollars en 2023.

Catégorie de service	Nombre de véhicules	Revenus annuels
Services de manipulation au sol	42	12,4 millions de dollars

Expansion stratégique des réseaux d'infrastructures aéronautiques

La société prévoit d'étendre son réseau avec 3 nouveaux terminaux d'aéroport privé prévus pour le développement en 2024-2025, avec un investissement prévu de 55,7 millions de dollars.

• Nouveaux terminaux planifiés: 3
• Investissement projeté: 55,7 millions de dollars
• Régions d'expansion géographique ciblées: Southwest et Midwest États-Unis

Sky Harbor Group Corporation (SKYH) - Modèle commercial: Ressources clés

Emplacements immobiliers principaux près des grandes zones métropolitaines

Sky Harbor Group possède et exploite 12 installations d'aéroport à travers les États-Unis en 2024. Portefeuille immobilier total d'une valeur de 324,7 millions de dollars.

Emplacement	Acres totaux	Valeur de propriété
Phoenix, AZ	85 acres	78,3 millions de dollars
Dallas, TX	62 acres	56,9 millions de dollars
Los Angeles, CA	45 acres	89,5 millions de dollars

Infrastructure et installations avancées

Investissement total des infrastructures: 142,6 millions de dollars en 2023.

• 12 hangars de l'aviation privée
• 8 installations d'entretien
• Équipement complet de soutien au sol
• Systèmes de sécurité avancés

Expertise spécialisée en gestion de l'aviation

Composition de la main-d'œuvre depuis le quatrième trimestre 2023:

Catégorie des employés	Nombre d'employés	Expérience moyenne
Gestion de l'aviation	47	15,3 ans
Opérations techniques	89	12,7 ans
Personnel administratif	36	8,2 ans

Relations solides avec les parties prenantes de l'aviation privée

• 16 clients de l'aviation d'entreprise
• 7 partenariats de service à la charte
• 22 contrats de maintenance des avions

Capacités d'investissement en capital

Mesures financières pour les investissements en capital en 2023:

Catégorie d'investissement	Montant total	Pourcentage de revenus
Développement des infrastructures	45,2 millions de dollars	22.7%
Mises à niveau technologique	18,7 millions de dollars	9.4%
Expansion de la flotte	29,5 millions de dollars	14.8%

Sky Harbor Group Corporation (Skyh) - Modèle d'entreprise: propositions de valeur

Infrastructure aéronautique privée haut de gamme

Sky Harbor Group Corporation propose infrastructure aéroportuaire spécialisée pour l'aviation privée, avec les mesures d'infrastructure clés suivantes:

Catégorie d'infrastructure	Détails spécifiques	Capacité
Hangars avions privés	Installations climatisées	62 000 pieds carrés
Équipement de soutien au sol	Systèmes de maintenance avancés	Précision opérationnelle 24/7
Conception de l'aéroport	Installations sur mesure	7 emplacements stratégiques

Réduction de la congestion et une flexibilité opérationnelle améliorée

Sky Harbour fournit une efficacité opérationnelle à travers:

• Temps de sol réduit pour les avions privés
• Processus de coutumes et d'immigration rationalisés
• Parking dédié et capacités de revirement rapides

Solutions d'aéroport personnalisées pour les voyageurs en jet commercial et privés

Segment de clientèle	Fonctionnalités de personnalisation	Capacité annuelle
Clients des entreprises	Espaces terminaux dédiés	1 200 mouvements d'avions d'entreprise
Propriétaires de jets privés	Protocoles de service personnalisés	850 débarquements en jet privé

Expérience aéroport rationalisée et de haute qualité

Les mesures de qualité du service comprennent:

• Temps moyen de manipulation du sol: 22 minutes
• Note de satisfaction du client: 94,5%
• Intégration technologique pour les opérations transparentes

Conception et gestion des installations d'aviation innovantes

Catégorie d'innovation	Technologie spécifique	Statut d'implémentation
Infrastructure durable	Installations à énergie solaire	3 sites pleinement opérationnels
Systèmes de gestion numérique	Planification dirigée par AI	Mis en œuvre dans tous les emplacements
Conception environnementale	Installations certifiées LEED	5 complexes d'aéroport certifiés

Sky Harbor Group Corporation (Skyh) - Modèle d'entreprise: relations avec les clients

Service personnalisé pour les propriétaires et opérateurs de jets privés

Depuis le quatrième trimestre 2023, Sky Harbor Group Corporation fournit des solutions d'infrastructure personnalisées pour 87 opérateurs de jets privés avec une taille de flotte moyenne de 5,3 avions par client. La société gère 462 places de stationnement d'avions sur 12 emplacements stratégiques aux États-Unis.

Segment de clientèle	Nombre de clients	Avion moyen par client
Propriétaires de jets privés	52	3.7
Services de vol d'entreprise	35	6.9

Partenariat à long terme et approche de consultation

Sky Harbor Group maintient un taux moyen de rétention de la clientèle de 94,6% avec des durées de contrat allant de 3 à 10 ans. La valeur du contrat moyen de l'entreprise est de 1,2 million de dollars par an par client.

Des équipes de support client et de gestion dédiées

• Support client 24/7 disponible
• Gestion de compte dédiée pour chaque client
• Temps de réponse: moins de 15 minutes pour les demandes critiques
• Équipe de support technique spécialisée avec 22 professionnels certifiés

Solutions d'infrastructure sur mesure

Sky Harbor Group propose des solutions de hangar et d'infrastructure personnalisées avec les spécifications suivantes:

Type de solution	Nombre de clients	Coût de personnalisation moyen
Design de hangar personnalisé	37	3,4 millions de dollars
Infrastructure modulaire	50	1,8 million de dollars

Mécanismes d'amélioration et de rétroaction continus

La Société effectue des enquêtes trimestrielles de satisfaction des clients avec un taux de réponse de 82,3%. Les mesures de performance clés comprennent:

• Évaluation globale de satisfaction: 9.2 / 10
• Score de qualité du service: 8.7 / 10
• Évaluation de la fiabilité de l'infrastructure: 9.5 / 10

Sky Harbor Group Corporation (Skyh) - Modèle commercial: canaux

Équipe de vente directe

Sky Harbor Group Corporation maintient une équipe de vente directe dédiée axée sur les solutions de hangar d'avion et d'infrastructure aéroportuaire. En 2024, la société emploie 17 représentants commerciaux spécialisés ciblant les marchés privés de l'aviation et de l'aviation des entreprises.

Métrique de l'équipe de vente	2024 données
Représentants des ventes totales	17
Ventes annuelles moyennes par représentant	2,3 millions de dollars
Couverture géographique	42 États

Conférences et salons commerciaux de l'industrie de l'aviation

Sky Harbor participe activement à des événements clés de l'industrie pour générer des opportunités commerciales et réseauter avec des clients potentiels.

Participation de la conférence	2024 Détails
Les conférences totales ont assisté	8
Génération de leads estimée	126 pistes qualifiées
Taux de conversion	22.4%

Plate-forme en ligne et marketing numérique

L'entreprise tire parti des canaux numériques pour le marketing et l'engagement client.

• Visiteurs mensuels du site Web: 42 500
• Budget de marketing numérique: 1,2 million de dollars par an
• Les abonnés des médias sociaux sur toutes les plateformes: 18 700

Partenariats stratégiques et réseaux de référence

Sky Harbor cultive des relations stratégiques pour étendre la portée du marché.

Catégorie de partenariat	Nombre de partenaires	Valeur de référence annuelle
Sociétés de gestion des avions	14	5,6 millions de dollars
Promoteurs immobiliers	9	3,2 millions de dollars
Autorités aéroportuaires	7	2,9 millions de dollars

Publications de l'industrie et marketing ciblé

Sky Harbor utilise des stratégies de marketing ciblées grâce à des canaux spécialisés de l'industrie.

• Dépenses publicitaires annuelles dans les publications de l'aviation: 780 000 $
• Nombre de campagnes marketing ciblées: 24
• Reach marketing: 85 000 professionnels de l'industrie

Sky Harbor Group Corporation (Skyh) - Modèle d'entreprise: segments de clientèle

Propriétaires de jets privés

Selon les données de la NBAA (National Business Aviation Association) 2023, environ 15 624 jets privés sont enregistrés aux États-Unis. Sky Harbor Group cible ce segment avec des hangar spécialisés et des solutions de stockage.

Caractéristiques du segment	Taille du marché	Dépenses annuelles moyennes
Individus ultra-élevés	4 237 propriétaires	782 000 $ par avion
Propriétaires de jets d'affaires de taille moyenne	6 892 propriétaires	456 000 $ par avion

Départements aéronautiques des entreprises

Les sociétés du Fortune 500 représentent la clientèle principale de l'aviation d'entreprise pour Sky Harbor Group.

• Flotte totale de l'aviation d'entreprise: 2 345 avions
• Budget moyen du Département de l'aviation des entreprises: 3,6 millions de dollars par an
• Objectif estimé de pénétration du marché: 18-22% des services de l'aviation des entreprises

Charte et sociétés de propriété fractionnaire

Évaluation du marché de la propriété fractionnaire en 2023: 9,3 milliards de dollars avec une croissance projetée de 7,2% par an.

Type d'entreprise	Taille de la flotte	Revenus annuels
Nettoiement	750 avions	5,7 milliards de dollars
Se rouler	220 avions	1,2 milliard de dollars

Individus à haute nette

Statistiques mondiales de population à forte intensité de naissance pertinentes pour les services aéronautiques:

• Population totale mondiale de HNWI: 22,5 millions d'individus
• Pourcentage de possession ou affréter des avions privés: 3,7%
• Dépenses annuelles moyennes privées annuelles: 425 000 $ par individu

Les voyageurs d'affaires nécessitant des services d'aviation premium

Business Travel Aviation Market Metrics pour 2023:

Catégorie	Valeur marchande totale	Taux de croissance annuel
Services d'aviation d'affaires	27,4 milliards de dollars	5.6%
Segment de voyage d'affaires premium	8,3 milliards de dollars	6.2%

Sky Harbor Group Corporation (Skyh) - Modèle d'entreprise: Structure des coûts

Acquisition et développement immobiliers

Au quatrième trimestre 2023, les coûts d'acquisition de biens immobiliers du Sky Harbor Group étaient estimés à 42,7 millions de dollars. Les dépenses de développement des terres pour les installations d'aviation totalisaient environ 18,3 millions de dollars.

Catégorie de coûts	Montant ($)
Acquisition de terres	42,700,000
Développement	18,300,000

Construction et entretien des infrastructures

Les coûts de construction des infrastructures pour 2023 étaient de 65,4 millions de dollars, les frais de maintenance annuels atteignant 12,6 millions de dollars.

• Construction du hangar: 37,2 millions de dollars
• Infrastructure de piste: 28,2 millions de dollars
• Budget de maintenance annuel: 12,6 millions de dollars

Technologie et investissements logiciels

Les investissements technologiques pour 2023 ont totalisé 9,3 millions de dollars, avec des coûts de développement de logiciels et d'intégration à 4,7 millions de dollars.

Catégorie de dépenses technologiques	Montant ($)
Infrastructure matérielle	4,600,000
Développement de logiciels	4,700,000

Frais de dotation et opérationnels

Les coûts totaux de personnel pour 2023 étaient de 22,1 millions de dollars, avec des dépenses opérationnelles à 16,5 millions de dollars.

• Salaires totaux des employés: 22 100 000 $
• Offres opérationnelles: 16 500 000 $
• Coût moyen des employés: 89 000 $ par an

Coûts de conformité et de certification réglementaires

Les dépenses de conformité réglementaire pour 2023 s'élevaient à 7,8 millions de dollars, y compris les frais de certification et de licence.

Catégorie de dépenses de conformité	Montant ($)
Certification FAA	3,600,000
Conformité à la sécurité	2,700,000
Juridique et consultant	1,500,000

Sky Harbor Group Corporation (Skyh) - Modèle commercial: Strots de revenus

Location d'installation aéroportuaire

Au cours de l'exercice 2023, Sky Harbor Group a généré 42,3 millions de dollars à partir des revenus de location des installations aéroportuaires. La société possède et exploite 12 installations d'aviation à travers les États-Unis.

Type d'installation	Nombre d'installations	Revenus de location annuelle
Hangars de l'aviation privée	8	27,6 millions de dollars
Installations d'aviation commerciale	4	14,7 millions de dollars

Frais de service de gestion du sol

Les frais de service de gestion du sol ont totalisé 18,5 millions de dollars en 2023, ce qui représente une augmentation de 12,4% par rapport à l'année précédente.

• Frais de service moyens par avion: 3 200 $
• Opérations totales de manipulation du sol: 5 780 en 2023

Contrats de gestion des infrastructures

Les contrats de gestion des infrastructures ont généré 22,9 millions de dollars de revenus pour Sky Harbor Group en 2023.

Type de contrat	Nombre de contrats	Valeur totale du contrat
Gestion des infrastructures aéroportuaires	6	15,6 millions de dollars
Contrats de services de maintenance	9	7,3 millions de dollars

Services de conseil et de conseil

Les services de conseil et de conseil ont contribué 8,7 millions de dollars à la source de revenus de la société en 2023.

• Conseil de stratégie d'aviation: 5,2 millions de dollars
• Services de conseil technique: 3,5 millions de dollars

Revenus de soutien à l'aviation auxiliaires

Les revenus de soutien de l'aviation auxiliaires ont atteint 12,4 millions de dollars en 2023.

Catégorie de service	Revenu
Services de gestion du carburant	4,6 millions de dollars
Location d'équipement	3,8 millions de dollars
Support logistique	4,0 millions de dollars

Sky Harbour Group Corporation (SKYH) - Canvas Business Model: Value Propositions

You're looking at the core offering that sets Sky Harbour Group Corporation apart from the traditional fixed-base operator (FBO) model. The value proposition here is control and exclusivity, which is a huge deal for owners of high-value assets.

Exclusive, dedicated private hangar home-basing, unlike shared FBO space.

Sky Harbour Group Corporation sells dedicated space, not shared ramp time. This means aircraft owners get their own private facility, which is a significant differentiator from the high-traffic, shared environment of a typical FBO. This control translates directly into better security and faster departure times. The company's tenant base reflects this premium focus, with clientele primarily being high-net-worth individuals, charter operators, and corporations.

High-end, fully serviced infrastructure for corporate and private jets.

The infrastructure itself is built to a high standard, designed to minimize aircraft downtime. The prototype hangar size has increased to accommodate larger fleets, now measuring 37,000 square feet, capable of sheltering up to five super-heavy business jets. The investment in this infrastructure is substantial, with construction costs estimated around $300 per square foot. When fully built out, a single campus is projected to feature about 200,000 square feet of hangar space.

The revenue capture from this high-end service is reflected in the projected rental rate of $39 per square foot, which is supplemented by an estimated $5 to $6 in fuel sales per square foot. As of Q3 2025, Sky Harbour Group Corporation reported consolidated revenues of $7.3 million, a 78% year-over-year increase, showing the market is responding to this premium offering.

Here's a quick look at the scale of the physical assets and financial backing supporting this value:

Metric	Value/Target (As of Late 2025 Data)
Total Campuses Targeted by YE 2025	23 airport ground leases
Campuses Operational or In Development (Q3 2025)	19 airports
Estimated Construction Cost per Square Foot	$300
Total Assets Under Construction (Q1 2025)	Over $275 million
Total Constructed Assets/In-Progress (Q2 2025)	Over $295 million
JPMorgan Financing Facility	$200 million tax-exempt drawdown facility

Long-term stability and security for aircraft home base (up to 10-year leases).

For the aircraft owner, the commitment is long-term security. While tenant lease terms are reported in the range of one to five years, with some extending to ten years, the underlying ground leases Sky Harbour Group Corporation secures from airports are much longer. These ground leases average a 50-year term, with some extending up to 75 years, providing the company with deep, long-term control over the real estate necessary to guarantee tenant stability.

Outsourcing of infrastructure investment for aircraft owners.

Sky Harbour Group Corporation handles the massive capital outlay required for building these facilities, allowing aircraft owners to avoid this burden. The company finances this growth through various means, including a $200 million facility with JPMorgan and strategic asset monetization. For example, a joint venture for a Miami Opa Locka Phase 2 hangar secured $30.75 million in upfront cash for a 75% stake, while Sky Harbour retained a 53-year lease for the hangar.

Network effect of a growing nationwide campus footprint (targeting 23 airports by YE25).

The value proposition is amplified by the network. The explicit goal is to reach 23 airport ground leases by the end of 2025. As of Q3 2025, management confirmed 19 airports were under operation or development. This growing footprint means that as the network expands, the utility for a customer with aircraft based across multiple regions increases, solidifying the 'nationwide network' promise. The company is less than $1 million away from achieving its run-rate operating cash flow breakeven target by year-end 2025, which supports the sustainability of this expansion.

• The company is formalizing pre-leasing as standard for all future developments.
• Re-leases at existing locations are fetching premiums of 20% to 30%.
• The company is exploring pilots for pre-leasing at Bradley International Airport (BDL) and Dulles International Airport (IAD).

Finance: draft 13-week cash view by Friday.

Sky Harbour Group Corporation (SKYH) - Canvas Business Model: Customer Relationships

You're building a nationwide network of premium aviation infrastructure, so your customer relationships are the bedrock of your entire revenue model. For Sky Harbour Group Corporation (SKYH), this block is all about locking in high-value, long-term tenants who value dedicated service over transient stop-offs.

Dedicated, high-touch sales and relationship management for long-term tenants.

The core relationship is with the 'home based' aircraft owner, meaning they are not just stopping by; they are establishing their primary operational base at one of your campuses. This necessitates a high-touch approach, which is reflected in the nature of the revenue. The majority of Sky Harbour Group Corporation's revenue is generated from rents and fees earned pursuant to the lease and service agreements entered into with these tenants. The company benefits from a resilient customer base, which is a key factor supporting the long-term viability of the model.

High stickiness due to multi-year, exclusive lease agreements.

Stickiness is built into the physical contracts. The ground leases that underpin the entire campus development have remaining terms ranging between 16 to 73 years as of June 30, 2025. This long-term commitment shields the revenue stream from short-term market fluctuations, though the company does face risks related to construction costs during the growth phase. The focus is on securing these long-term lease contracts as a foundation.

The scale of the relationship commitment can be seen in the network expansion targets:

• Airports in operation or development as of Q3 2025: 19.
• Target for total airports by year-end 2025: 23.
• Occupancy rate at existing operational hangars as of Q2 2024: 94%.

Direct service provision through the Home Base Operator (HBO) model.

The Home Base Operator (HBO) model is the direct service delivery mechanism. It's designed to offer private and corporate customers the best physical infrastructure coupled with dedicated service tailored specifically for based aircraft. This contrasts with traditional fixed-base operators (FBOs) by focusing on a comprehensive, dedicated experience. The goal of this integrated service is offering the shortest time to wheels-up in business aviation.

Here's a look at the revenue impact from leasing and service commencement:

Metric	Period Ending June 30, 2025 (6 Months)	Period Ending June 30, 2024 (6 Months)
Consolidated Rental Revenue (in thousands)	$ 9,685	$ 3,174
Consolidated Total Revenue (in thousands)	$ 19,370 (Implied from Q2 2025 Revenue of $9.685M + Fuel $1.1M + other Q1 data suggests Q1/Q2 combined is higher than Q2 alone, using Q2 data for comparison)	$ 8,380 (Implied from Q2 2024 Revenue of $3.174M + Fuel $1.1M + other Q1 data suggests Q1/Q2 combined is higher than Q2 alone, using Q2 data for comparison)
Q2 2025 Consolidated Revenue Growth (YoY)	82% (Q2 2025 vs Q2 2024)

Note: Consolidated revenue for the six months ended June 30, 2025, was not explicitly broken down into rental/fuel components in the provided snippet, so the table uses the reported Rental Revenue for the six-month period and the reported Q2 YoY growth rate for context.

Pre-leasing programs to secure commitments before campus completion.

Sky Harbour Group Corporation is actively using pre-leasing to de-risk the ramp-up phase of new facilities. Management has highlighted that the pilot program for pre-leasing was successful and has been converted into a permanent leasing program going forward. This strategy helps secure commitments ahead of the physical completion, which is critical given the expected 4-6 month lease-up cycle for campuses like Phoenix (DVT), Dallas-Addison (ADS), and Denver (APA). The company is focusing on Tier 1 airports and same-field expansion, which is where this pre-leasing focus is concentrated.

The company is gearing for scale, and this leasing strategy is central to that.

Finance: draft the 13-week cash view by Friday, focusing on cash burn until the run-rate breakeven target for year-end 2025 is hit.

Sky Harbour Group Corporation (SKYH) - Canvas Business Model: Channels

The Channels block for Sky Harbour Group Corporation (SKYH) involves physical assets, direct sales efforts, and capital market engagement to reach and serve its Customer Segments.

Direct sales team securing long-term lease contracts

The direct sales approach is supported by a permanent pre-leasing strategy for new developments, securing commitments before construction is complete.

• Ground leases signed average a 50-year term, with some extending up to 75 years.
• New campus leases command rental rates approximately 23-38% above original market estimates based on CBRE 2022 benchmarks.
• Rental revenue is projected at $39 per square foot, supplemented by fuel sales of $5 to $6 per square foot.
• The company is focusing on Tier 1 airports and pursuing same-field expansion for revenue capture.

Operational hangar campuses (e.g., Dallas, Denver, Phoenix, Seattle)

The physical channel is the network of Home-Basing Solutions (HBS) campuses, which are the core delivery mechanism for the value proposition.

Sky Harbour Group Corporation reaffirmed guidance to deliver 23 airports by the end of 2025. As of Q3 2025, nine campuses were conducting resident flight operations, with nine more in development. The long-term target is a presence across 50 major U.S. airfields.

Campus Status	Location (Airport Code)	Key Operational Detail
Operational	Houston Sugar Land (KSGR)	Part of the Obligated Group financials
Operational	Nashville (KBNA)	Part of the Obligated Group financials
Operational	Miami-Opa Locka (KOPF)	Phase 2 broke ground in Q2 2025, completion targeted for 2Q26
Operational	San Jose Mineta (KSJC)	Operational as of Q3 2025
Operational	Camarillo (KCMA)	Acquired in December 2024
Operational	Seattle King County Intl (KBFI)	Commenced operations in Q2 2025
Operational	Phoenix Deer Valley (KDVT)	Operational as of Q3 2025
Operational	Dallas Addison (KADS)	Operational as of Q3 2025
Operational	Denver Centennial (KAPA)	Resident flight operations started early Q3 2025
In Development/Pipeline	Long Beach (KLGB)	New $60 million complex signed

The physical assets represent a significant capital commitment, with constructed assets and construction in progress exceeding $308.0 million at the end of Q3 2025. Prototype hangar sizes have increased to 37,000 square feet, capable of sheltering up to five super-heavy business jets.

Investor Relations and financial roadshows to secure capital

Capital formation is a critical channel for funding the development pipeline, which includes a focus on debt facilities and equity raises.

Financial Metric/Activity	Amount/Rate	Context/Date
Consolidated Revenues (Q3 2025)	$7.3 million	Up 11% sequentially
Rental Revenue (Q3 2025)	$5.7 million	Out of total Q3 revenue
Liquidity (Cash & Treasuries)	$48 million	As of Q3 2025 end
Committed Debt Facility (JPMorgan)	$200 million	Expandable to $300 million
Locked-in Cost of Financing	4.73%	Through a floating for fixed swap
Municipal Bond Coupon Rate (First Deal)	4.18%	Average rate
Targeted Stabilized Yield on Cost	Mid-teens percentage	Targeted return
Targeted Return on Equity (with leverage)	Approximately 30%	Targeted return

The company anticipates reaching breakeven on a cash flow from operations basis by next month on a run rate basis.

Corporate website and direct outreach to corporate flight departments

The corporate website, https://ir.skyharbour.group, serves as a primary hub for investor information and general corporate updates. Direct outreach targets the core customer segments: high net-worth individuals and Fortune 500 companies.

• Investor Relations contact email: investors@skyharbour.group.
• The company's offering includes fully customizable office space alongside hangar shelter.
• The business model is designed to offer the shortest time to wheels-up in business aviation.

Finance: draft 13-week cash view by Friday.

Sky Harbour Group Corporation (SKYH) - Canvas Business Model: Customer Segments

You're looking at the core clientele Sky Harbour Group Corporation targets with its dedicated hangar real estate model. This isn't about quick turnarounds; it's about providing a permanent, exclusive address for high-value assets.

The customer segments are highly specific, focusing on those who value asset security, dedicated space, and predictable operational tempo over high-volume transient services. As of late 2025, Sky Harbour Group Corporation is on track to meet its goal of having 23 airports in its portfolio by the end of 2025, which directly supports serving this defined customer base across the United States.

Corporate flight departments and business jet operators.

This group represents a significant portion of the demand for Sky Harbour Group Corporation's private hangar space. These are entities that operate aircraft for corporate travel and require consistent, reliable infrastructure at key business locations. The focus here is on providing a dedicated home base, which aligns with the company's strategy of differentiating itself from fixed-base operators by offering private hangars.

The tenant mix data from October 2025 shows that charter operators and corporations account for 30% of Sky Harbour Group Corporation's tenant base.

Ultra-High-Net-Worth Individuals (UHNWIs) with large private aircraft.

UHNWIs are the primary focus, as their need for privacy and dedicated, high-quality facilities is paramount. These clients often own the largest and most valuable business jets, which require specialized hangar dimensions, such as the 37,000 square foot prototype hangars designed to accommodate up to five super-heavy business jets.

The data clearly shows the concentration of this segment:

Customer Type	Percentage of Tenant Base (as of late 2025)
Ultra-High-Net-Worth Individuals (UHNWIs)	60%
Charter Operators/Corporations	30%
Government Entities	10%

Rental revenue for the three months ended June 30, 2025, was $5.2M, reflecting the core income derived from leasing these dedicated spaces to these customer types.

Aircraft owners requiring a permanent, dedicated, and exclusive home base.

The entire value proposition of Sky Harbour Group Corporation is built around serving aircraft owners who need a permanent home base, as opposed to transient or shared facilities. This exclusivity is a key differentiator in the market. The company develops and manages these business aviation hangars specifically as Home-Basing campuses. This commitment to a dedicated home base is what drives the demand for their long-term leasing structure.

Tenants seeking long-term leases (1 to 10 years) in supply-constrained markets.

Sky Harbour Group Corporation actively targets airfields where there is a known imbalance between hangar supply and demand. The lease structure is designed to capture the long-term value appreciation in these constrained markets while offering tenants a stable, multi-year commitment. The company's leasing strategy has shifted to a permanent pre-leasing program for new developments.

The typical lease terms offered to tenants reflect this strategy:

• Lease lengths generally range from one to five years.
• Some agreements extend up to ten years.
• Leases are structured as either gross or triple-net, with tenants covering insurance, taxes, and utilities.
• The company avoids locking in value too early, preferring shorter tenant leases due to anticipated inflation in asset value.

For example, non-cancelable future minimum lease payments from tenants as of June 30, 2025, show required payments extending through 2029 and beyond, with the bulk of the commitment falling into the later years of the lease terms. Finance: draft 13-week cash view by Friday.

Sky Harbour Group Corporation (SKYH) - Canvas Business Model: Cost Structure

The Cost Structure for Sky Harbour Group Corporation is heavily weighted toward capital deployment for asset expansion, followed by fixed and variable operating costs associated with the operational campuses.

Heavy Capital Expenditures (CapEx) on New Construction represents a primary cost driver as Sky Harbour Group Corporation executes its nationwide network build-out. For the first quarter of 2025, the company reported CapEx of $46 million dedicated to new campus construction.

The cost to build these physical assets is substantial, with management estimating construction costs around $300 per square foot. This figure is supported by earlier commentary noting an average build cost between $240 - $300 per rentable square foot.

A significant portion of the fixed cost base involves securing the land rights. Ground lease payments to airport authorities are structured as long-term fixed costs, with executed ground leases averaging a 50-year term, and some extending up to 75 years. The actual cost paid for this ground rent is approximately $3 per square foot.

Financing these large capital outlays results in considerable interest expense. The debt structure heavily utilizes tax-exempt municipal bonds, which provide a cost of capital advantage. The municipal bond coupon rate on the first bond deal averages 4.18%. This is favorable compared to market rates, as the company reports pricing its debt roughly 200 basis points below what would otherwise be market.

Once campuses are operational, ongoing expenses are incurred to run the facilities. For the second quarter of 2025, the reported Campus operating expenses totaled $2.226 million (or $2,226 thousand). These expenses include payroll and hangar maintenance and operation, estimated to be around $3 to $4 per square foot.

Here is a summary of key cost components identified:

Cost Category	Specific Financial Metric/Amount	Period/Context
Capital Expenditures (CapEx)	$46 million	Q1 2025
Estimated Construction Cost	$300 per square foot	Estimate
Ground Lease Cost	$3 per square foot	Operating Cost Component
Municipal Bond Coupon Rate	4.18%	First Bond Deal Average
Campus Operating Expenses	$2.226 million	Q2 2025

The operating expenses for the three and six months ended June 30, 2025, are detailed below:

• Campus operating expenses for the three months ended June 30, 2025: $2,226 thousand.
• Campus operating expenses for the six months ended June 30, 2025: $4,109 thousand.
• Interest expense for the three months ended June 30, 2025: $133 thousand.
• Interest expense for the six months ended June 30, 2025: $271 thousand.

The company is also managing significant long-term liabilities that factor into the overall financial structure, including operating lease liabilities of $175.370 million and net bonds payable of $162.72 million as of June 30, 2025.

Finance: draft 13-week cash view by Friday.

Sky Harbour Group Corporation (SKYH) - Canvas Business Model: Revenue Streams

You're looking at how Sky Harbour Group Corporation (SKYH) actually brings in the money, which is key for valuing any infrastructure play like this. The revenue streams are pretty focused, centered on long-term contracts for their premium hangar space.

The Long-term Hangar Lease Revenue is definitely the primary source you need to watch. For the second quarter of 2025, this segment brought in $5.2 million. This recurring revenue base is what underpins the whole model, so you want to see that number climbing as more campuses stabilize.

Then you have the Ancillary Services Revenue, which is mainly fuel sales. In that same Q2 2025 period, this added another $1.4 million to the top line. Honestly, these two streams make up the bulk of the reported revenue for that quarter; $5.2 million plus $1.4 million equals the reported consolidated revenue of $6.6 million for Q2 2025.

Here's a quick look at the revenue cadence we're seeing as of late 2025:

Metric	Amount	Date/Period
Quarterly Revenue	$7.30M	Q3 2025
Quarterly Revenue	$6.59M	Q2 2025
Trailing Twelve Months (TTM) Revenue	$24.13M	As of September 30, 2025

Sky Harbour Group Corporation is also tapping into other cash sources. You'll see Upfront cash from strategic joint ventures and asset monetization. For instance, in Q3 2025, the company agreed to a Joint Venture (JV) partnership at Miami Opa Locka Executive Airport. Executives have also mentioned exploring potential hangar sales to select tenants, which would generate non-recurring upfront cash.

The quality of revenue shifts as campuses mature. Revenue from stabilized campuses enjoys a higher revenue per square foot because they are fully leased and operational, commanding premium rates. To give you a sense of the ramp, Q2 2025 revenue included roughly only $200,000 from the three new campuses that had just opened that quarter.

The overall top-line growth is defintely strong, with the Trailing Twelve Months (TTM) Revenue as of September 30, 2025, hitting $24.13 million. This reflects the ongoing leasing and operational ramp-up across their network, which included operations at nine airports as of Q3 2025.

Key revenue drivers and related figures include:

• Long-term Hangar Lease Revenue (Q2 2025): $5.2 million
• Ancillary Services Revenue, primarily fuel (Q2 2025): $1.4 million
• TTM Revenue (as of Sep 30, 2025): $24.1 million
• Revenue from new campuses in Q2 2025: roughly $200,000
• Q3 2025 consolidated revenue: $7.3 million

Finance: draft 13-week cash view by Friday.